Ftai Aviation Ltd. · NASDAQ:FTAI
Ftai Aviation — Q2 2026 Earnings Presentation
49 slides from Ftai Aviation's earnings presentation, Jul 30, 2026
Slide 1: FTAI Aviation Q2 2026 Earnings Supplement
FTAI AVIATION Q2 2026 Earnings Supplement July 2026
Slide 2: Disclaimers
Disclaimers IN GENERAL. This disclaimer applies to this document and the verbal or written comments of any person presenting it. This document, taken together with any such verbal or written comments, is referred to herein as the “Presentation.” The information contained on, or accessible through, a
Slide 3: Business Highlights
FTAI Overview Business Highlights • Q2 2026 Net Income of $118M and $291M of Adjusted EBITDA(2) FTAI Overview Overview(1) • FTAI Power announced anchor contract for a substantial portion of 2027 delivery target • Expanded engine maintenance footprint through strategic collaborations in Indonesia and
Slide 4: Q2 2026 Key Highlights
FTAI Overview Statement of Operations Q2 2026 Key Highlights USD MILLIONS Q2 2025 Q1 2026 Q2 2026 Strong performance driven by differentiated business model Aerospace Products(1) $164.9 $222.6 $249.7 $953 million Revenue Aviation Leasing(1) $199.3 $153.0 $88.2 Corporate & Other(1,3) $(16.4) $(50.0)
Slide 5: Q2 Business Updates
= FTAI AVIATION Q2 Business Updates
Slide 6: Anchor Customer Contract
FTAI Power Secured Customer Contract for Substantial Portion of 2027 Production Key Order Details(1) ANCHOR Initial Purchase Order Deliveries Through November 2027 Equipment delivered in batches to support the CUSTOMER $1.465 customer’s rapid power infrastructure buildout. CONTRACT BILLION Five-Year
Slide 7: FTAI Expands Footprint to Serve Growing Global Customer Base
MRE Expansion FTAI Expands Footprint to Serve Growing Global Customer Base ROME FTAI Facility MONTREAL ITALY Capacity Expansion CANADA +1 5 K SQ FT +5 0 K SQ FT Customer Location LEAP Test Cell in 2028 LISBON PORTUGAL JAKARTA +1 1 3 K INDONESIA SQ FT CAIRO +2 5 0 K SQ FT EGYPT CAPABILITY KEY +1 0 0
Slide 8: New Collaborations Support Capacity Expansion and Development
MRE Expansion New Collaborations Support Capacity Expansion and Development + 350,000 sq ft MRE & Test Cell(1) Cairo, Egypt Jakarta, Indonesia + 320 New MRE CFM56-7B CFM56-5B&7B Technicians Light repair Partnerships Heavy repair Strategic +2 CFM56-7B partnership CFM56-5B&7B Engine testing Engine tes
Slide 9: Facility Investments Underpin Capacity Growth
MRE Expansion Facility Investments Underpin Capacity Growth(1) MONTREAL LISBON ROME CANADA PORTUGAL ITALY ADDITIONAL FOOTPRINT ADDITIONAL FOOTPRINT ADDITIONAL FOOTPRINT 1 5,0 0 0 1 1 3,0 0 0 5 0,0 0 0 SQ FT(2) SQ FT(2) SQ FT(2) CFM EXPANSION CFM EXPANSION CFM EXPANSION POWER EXPANSION POWER EXPANSIO
Slide 10: FTAI & AEI Partner To Meet Growing Demand for 737-800 Freighters
Freighter Collaboration FTAI & AEI Partner To Meet Growing Demand for 737-800 Freighters Combination of FTAI’s Engine Maintenance Capabilities and AEI’s Cargo Conversion Leadership Expect to Deliver Customized Freighter Solutions at Scale and Lower Cost(1) PASSENGER CARGO POWER Maximize value in hig
Slide 11: Aerospace Products
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Slide 12: MRE Adoption Continues to Grow
Aerospace Products Annual CFM56 / V2500 Commercial MRO Demand(1) MRE Adoption Continues to 2026E Grow 14% 14% Market Share of CFM56 & V2500 Aftermarket(1) FTAI’S CURRENT ANNUALIZED ~$3.5B $25B MARKET SHARE 86% Targeting 25%+ 51% annual New and repeat Aerospace Products Adjusted EBITDA(3) market shar
Slide 13: Significant Momentum in 2026 Global Production
Aerospace Products Significant Momentum in 2026 Global Production Module Production by Facility(1) Annual Production Outlook(1,2) Montreal Miami Rome Lisbon 296 9 2025A 2026E 270 6 Montreal Montreal 60 228 45 377 450 207 Miami Miami 40 184 36 275 475 29 116 Europe Europe 119 79 71 105 275 64 Total T
Slide 14: Strategic Capital
~ FTAI AVIATION Strategic Capital
Slide 15: Strategic Capital Highlights
Strategic Capital Strategic Capital Highlights Investment Vehicles Vehicle Structure Investment Strategy 20+ leading 1 Two Types of Aircraft 2025 SPV institutional investors • Capital fully committed to over 300 aircraft on-lease with 87 airlines in 43 countries • Completed the first regular quarter
Slide 16: FTAI's MRE Program Delivers Value for all Parties
Strategic Capital FTAI’s MRE Program Delivers Value for all Parties(1) EXCLUSIVE MRE AGREEMENT: Signed at inception and valid through the life of the vehicle Predictable Demand Engine Feedstock Pre-Build & Optimize Visibility into engine Steady feedstock of Pre-build engines and FTAI needs multiple
Slide 17: FTAI Power
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Slide 18: The Mod-1 Value Proposition
FTAI Power The Mod-1 Value Proposition(1) SPEED SCALE COST Deliver power when it's needed. Built for global deployment. Lower cost. Higher efficiency. delivered in 2027, Available now 100+ growing by multiples Reduced downtime through turbine exchanges UNITS thereafter of maintenance facilities Lowe
Slide 19: Rapid Swaps, Maximum Uptime
FTAI Power Rapid Swaps, Maximum Uptime(1) < 48-HOUR TURBINE SWAP ISSUE DETECTED SPARES ON-SITE TURBINE SWAP WITHIN 48 HOURS Swap initiated No OEM On site modular Back at full immediately lead time change-out power Spare turbines deployed on-site Redundancy factored into every deployment Turbine Swap
Slide 20: Strategic Joint Venture Built for Speed to Power
FTAI Power Strategic Joint Venture Built for Speed to Power(1) FTAI Power Jereh Power Generation Technology Manufacturing and System Integration Proven CFM56 Expertise in designing and gas turbine platform ONE packaging mobile power system INTEGRATED Aircraft engine Complete modular power systems co
Slide 21: Financial Update
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Slide 22: 2026 Adj. Free Cash Flow Update
Financial Update $1.2B Target Adj. Free Cash Flow Before New Growth Initiatives(2,3) 2026 Adj. Free • Generated $255 million in Adjusted Free Cash Flow in the first half of 2026 including funding the Cash Flow final capital call of $95 million for the 2025 SPV commitment • Allocating an additional $
Slide 23: Capital Structure
Financial Update Significant Growth in Adj. EBITDA(1) Generation Due to Operational Leverage Capital • Leverage multiple of 2.7x within target range of 2.5x – 3.0x Structure • FTAI credit rating upgraded from Ba2 to Ba1 by Moodys during Q2 2026 • Total liquidity available of $2.362 billion including
Slide 24: Business Segments
Business Segments
Slide 25: Aerospace Products
Business Segments Innovative Maintenance Solutions for the CFM56 and V2500 Engines Aerospace • Generated $875 million in revenue, 78% growth versus $490.3 million in prior year Products • Annual growth of 51% in Adj. EBITDA(1) versus Q2 2025 • Q2 2026 includes $182.8 million in MRE Contract Revenue
Slide 26: Aviation Leasing
Business Segments Continued Mix Shift Reflects Long-Term Focus on SCI and Engine Leasing Aviation • $88.2 million Adj. EBITDA for Q2 2026 including insurance recoveries of $5.0 million (1) Leasing • $35.0 million Strategic Capital Adj. EBITDA contribution including $7.0 million servicing fees and $2
Slide 27: Corporate & Other
Business Segments Substantial Liquidity and Low Cost of Capital to Support Sustained Growth Corporate • $2.025B revolver credit facility undrawn as of June 30, 2026 & Other • 6.5% weighted average cost of $3.5B Senior Notes • Robust financial position with no corporate bond maturities through May 20
Slide 28: End Notes
End Notes Slide Footnote Description 1. This is a forward-looking statement. See disclaimers at beginning of presentation. Based on management's estimates and may vary materially from actual results. 3 2. This is a Non-GAAP measure. See Reconciliation of Non-GAAP Measures section in Appendix for a r
Slide 29: End Notes
End Notes Slide Footnote Description 1. Rome facility is a joint venture. Q2 2025 Rome production is as of signing in Q2 2025. Production includes Q4 2025 Medley facility operations, including prior to December 2025 acquisition 2. This is a forward-looking statement. See disclaimers at beginning of
Slide 30: Appendix
Appendix Statement of Operations by Segment Comparative Statements of Operations Condensed Balance Sheets Reconciliation of Non-GAAP Measures Glossary
Slide 31: Appendix
Appendix Statement of Operations by Segment Comparative Statements of Operations Condensed Balance Sheets Reconciliation of Non-GAAP Measures Glossary
Slide 32: Statement of Operations by Segment (unaudited)
Appendix Statement of Operations by Segment (unaudited) For the Three Months Ended June 30, 2026 ($s in thousands) Aerospace Products Aviation Leasing Corporate and Other Eliminations Total Revenues $ 875,028 $ 78,057 $ — $ — $ 953,085 Expenses Cost of sales 614,529 21,253 — — 635,782 Operating expe
Slide 33: Statement of Operations by Segment (unaudited)
Appendix Statement of Operations by Segment (unaudited) For the Three Months Ended June 30, 2025 ($s in thousands) Aerospace Products Aviation Leasing Corporate and Other Eliminations Total Revenues $ 490,271 $ 185,966 $ — $ — $ 676,237 Expenses Cost of sales 317,469 51,789 — — 369,258 Operating exp
Slide 34: Statement of Operations by Segment (unaudited)
Appendix Statement of Operations by Segment (unaudited) For the Six Months Ended June 30, 2026 ($s in thousands) Aerospace Products Aviation Leasing Corporate and Other Eliminations Total Revenues $ 1,618,843 $ 164,939 $ — $ — $ 1,783,782 Expenses Cost of sales 1,125,541 34,509 — — 1,160,050 Operati
Slide 35: Statement of Operations by Segment (unaudited)
Appendix Statement of Operations by Segment (unaudited) For the Six Months Ended June 30, 2025 ($s in thousands) Aerospace Products Aviation Leasing Corporate and Other Eliminations Total Revenues $ 855,334 $ 322,979 $ 4 $ — $ 1,178,317 Expenses Cost of sales 546,224 71,748 — — 617,972 Operating exp
Slide 36: Appendix
Appendix Statement of Operations by Segment Comparative Statements of Operations Condensed Balance Sheets Reconciliation of Non-GAAP Measures Glossary
Slide 37: Consolidated - Comparative Statements of Operations (unaudited)
Appendix Consolidated - Comparative Statements of Operations (unaudited) ($s in thousands) 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026 Revenues Aerospace products revenue $ 420,686 $ 459,206 $ 456,139 $ 522,585 $ 692,229 MRE Contract revenue 69,585 58,663 106,902 221,230 182,799 Lease income
Slide 38: Aerospace Products - Comparative Statements of Operations (unaudited)
Appendix Aerospace Products - Comparative Statements of Operations (unaudited) ($s in thousands) 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026 Revenues Aerospace products revenue $ 420,686 $ 459,206 $ 456,139 $ 522,585 $ 692,229 MRE contract revenue 69,585 58,663 106,902 221,230 182,799 Total r
Slide 39: Aviation Leasing - Comparative Statements of Operations (unaudited)
Appendix Aviation Leasing - Comparative Statements of Operations (unaudited) ($s in thousands) 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026 Revenues Lease income $ 62,439 $ 55,072 $ 49,259 $ 39,892 $ 27,765 Maintenance revenue 73,104 52,370 43,418 30,599 25,793 Asset sales revenue 47,915 38,46
Slide 40: Corporate and Other - Comparative Statements of Operations (unaudited)
Appendix Corporate and Other - Comparative Statements of Operations (unaudited) ($s in thousands) 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026 Revenues Lease income $ — $ — $ — $ — $ — Other revenue — — — — — Total revenues $ — $ — $ — $ — $ — Expenses Operating expenses 14,250 18,401 28,744 4
Slide 41: Appendix
Appendix Statement of Operations by Segment Comparative Statements of Operations Condensed Balance Sheets Reconciliation of Non-GAAP Measures Glossary
Slide 42: Condensed Balance Sheets
Appendix Condensed Balance Sheets (unaudited) ($s in thousands) June 30, 2026 December 31, 2025 Gross Property, Plant and Equipment (PP&E) $ 169,217 $ 145,206 Accumulated Depreciation on PP&E (34,475) (25,138) Net PP&E $ 134,742 $ 120,068 Gross Leasing Equipment 1,528,257 2,057,624 Accumulated Depre
Slide 43: Appendix
Appendix Statement of Operations by Segment Comparative Statements of Operations Condensed Balance Sheets Reconciliation of Non-GAAP Measures Glossary
Slide 44: Adjusted EBITDA Reconciliation by Segment (unaudited)
Appendix Adjusted EBITDA Reconciliation by Segment (unaudited) For the Three Months Ended June 30, 2026 ($s in thousands) Aerospace Products Aviation Leasing Corporate and Other Eliminations Total Net income (loss) attributable to shareholders $ 194,244 $ 20,866 $ (90,928) $ (6,597) $ 117,585 Add: P
Slide 45: Adjusted EBITDA Reconciliation by Segment (unaudited)
Appendix Adjusted EBITDA Reconciliation by Segment (unaudited) For the Six Months Ended June 30, 2026 ($s in thousands) Aerospace Products Aviation Leasing Corporate and Other Eliminations Total Net income (loss) attributable to shareholders $ 377,979 $ 85,304 $ (194,911) $ (16,597) $ 251,775 Add: P
Slide 46: Notes to Non-GAAP Reconciliations - Adjusted EBITDA
Appendix Notes to Non-GAAP Reconciliations - Adjusted EBITDA ($s in thousands) (1) Total Includes the following items for the three months ended June 30, 2026 and 2025: (i) depreciation and amortization expense of $46,986 and $55,236, (ii) lease intangible amortization of $(89) and $2,153 and (iii)
Slide 47: Notes to Non-GAAP Reconciliations - Adjusted EBITDA
Appendix Notes to Non-GAAP Reconciliations - Adjusted EBITDA ($s in thousands) Aviation Leasing Includes the following items for the three months ended June 30, 2026 and 2025: (i) net income of $16,749 and net loss of $782 (ii) interest expense of $5,771 and $1,490, (iii) depreciation and amortizati
Slide 48: Appendix
Appendix Statement of Operations by Segment Comparative Statements of Operations Condensed Balance Sheets Reconciliation of Non-GAAP Measures Glossary
Slide 49: Glossary
Appendix Glossary Adjusted EBITDA In addition to net income (loss), the Chief Operating Decision Maker (“CODM”), who is the Company’s Chief Executive Officer, utilizes Adjusted EBITDA as a key performance measure. Adjusted EBITDA is not a financial measure in accordance with U.S. generally accepted