Press release
FTAI Aviation Ltd. Announces Closing of Merger Transaction
NEW YORK, Nov. 11, 2022 (GLOBE NEWSWIRE) -- FTAI Aviation Ltd. (NASDAQ: FTAI), a Cayman Islands exempted company (“FTAI” or the “Company”), announced today
About this update from Ftai Aviation Ltd.
[{"type":"text","content":"NEW YORK, Nov. 11, 2022 (GLOBE NEWSWIRE) -- FTAI Aviation Ltd. (NASDAQ: FTAI), a Cayman Islands exempted company (“FTAI” or the “Company”), announced today the closing of a previously announced merger transaction by and among FTAI, Fortress Transportation and Infrastructure Investors LLC and FTAI Aviation Merger Sub LLC. The execution of a definitive merger agreement outlining the terms of the transaction was initially announced on August 15, 2022. As a result of the merger, shares of Fortress Transportation and Infrastructure Investors LLC were exchanged automatically for shares of FTAI without any further action from the shareholders and Fortress Transportation and Infrastructure Investors LLC became a subsidiary of FTAI. The ordinary shares and preferred shares of the Company continue to trade on Nasdaq under the ticker symbols ‘‘FTAI,’’ ‘‘FTAIP,’’ ‘‘FTAIO’’ and ‘‘FTAIN,’’ respectively. In connection with the merger, newly acquired FTAI shares will no longer be subject to Schedule K-1 reporting. Shareholders who held shares in 2022 prior to the merger will receive a final K-1 in 2023. About FTAI Aviation Ltd. FTAI owns and maintains commercial jet engines with a focus on CFM56 engines. FTAI’s propriety portfolio of products, including The Module Factory and a JV to manufacture engine PMA, enables it to provide cost savings and flexibility to our airline, lessor, and MRO customer base. Additionally, FTAI owns and leases jet aircraft which often facilitates the acquisition of engines at attractive prices. FTAI invests in aviation assets and aerospace products that generate strong and stable cash flows with the potential for earnings growth and asset appreciation. Cautionary Language Regarding Forward-Looking Statements This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to information regarding the transactions contemplated by the spin-off and the commencement of trading. Forward-looking statements are not statements of historical fact but instead are based on our present beliefs and assumptions and on information currently available to FTAI. You can identify these forward-looking statements by the use of forward-looking words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “cou...