FTAI Aviation Ltd.FTAI
FTAI Aviation Ltd. Financial Overview 2021–2025
Updated Aug 8, 2026FTAI Aviation expanded its top line by an astonishing 45% in FY2025, pushing total revenues to $2.51 billion as global demand for commercial aerospace products surged. This operational pivot from a traditional leasing business into a specialized engine and maintenance powerhouse fundamentally altered the company's earnings trajectory.
The company’s revenue grew from $455.8 million in FY2021 to $2.51 billion in FY2025. This long-term expansion was heavily fueled by the Aerospace Products segment, which jumped 48% year-over-year to hit $1.94 billion in FY2025. Instead of simply holding metal, FTAI transitioned toward an asset-light framework. Through its Strategic Capital Initiative, the company began selling off on-lease narrowbody aircraft to third-party investors while retaining lucrative management and maintenance contracts. This strategic shift, combined with the elimination of outside management fees after a one-time $300 million internalization charge in FY2024, drove Adjusted EBITDA up 38% to $1.19 billion for FY2025.
By shedding capital-heavy assets and securing recurring maintenance revenue, FTAI convinced the market to award it a premium multiple. At the close of FY2025, the stock traded at $196.85 with a $20.2 billion market cap. Investors priced the aviation firm at 42.8x trailing earnings, reflecting confidence in its high-margin component sales and newly streamlined cost structure.
Recent Developments (Q1 and Q2 2026)
FTAI Aviation extended its aggressive transformation in H1 2026, driven by booming engine and module sales. Q1 2026 revenue surged 65.5% year-over-year to $830.7 million. This momentum carried through the first half, as total revenues grew by $605.5 million. Aerospace Products generated a $529.7 million increase, successfully offsetting a $158.0 million revenue decline in the Aviation Leasing segment. The company also overhauled its leadership, promoting David Moreno to President and Nicholas McAleese to CFO. In April 2026, FTAI secured a new $2.02 billion revolving credit facility to fuel strategic investments.
Bulls argue that surging aerospace demand and expanded liquidity will accelerate lucrative asset-light acquisitions. Conversely, bears highlight that H1 2026 net income stayed virtually flat at $251.8 million due to rising costs, leaving shares richly valued at 43.4x earnings as of July 31, 2026.
What to watch: margin recovery amid rising cost of sales; cash flow utilization following a $129.0 million increase in operating cash outflows.
Rev
$2.51B
FY2025
NI
$501.1M
FY2025
EPS$FTAI
$4.66
FY2025
OCF
$-310.7M
FY2025
Year-over-year comparison from 10-K annual reports
Data from SEC Company Facts
All FTAI Financial Metrics(59)
Income Statement
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- Receivables
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- Prepaid & Other
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- Goodwill
- Intangibles
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- Current Liabilities
- Accounts Payable
- Accrued Liabilities
- Short-Term Debt
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- Other Non-current Liab.
- Equity
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Cash Flow
Recent SEC Filings
FTAI Aviation Ltd. 8-K Report, Financial Results (Jul 29, 2026)
FTAI Aviation Ltd. (FTAI) filed an 8-K on July 29, 2026, to report its financial results for the fiscal quarter ended June 30, 2026. The key details of these results are presented in a press release attached as Exhibit 99.1 to the filing. Investors should refer to this press release for specific financial performance, operational updates, and forward-looking statements from the company. This filing serves as the official notification of the company's quarterly performance. While the 8-K itself is brief, its primary purpose is to incorporate the detailed financial information and management commentary contained within the press release. Investors interested in understanding FTAI's current financial health, revenue trends, profitability, and any significant developments should carefully review the attached press release.
FTAI Aviation Ltd. 8-K Report, Shareholder Vote Results (May 29, 2026)
FTAI Aviation Ltd. (FTAI) filed an 8-K on May 29, 2026, detailing the results of its 2026 Annual General Meeting held on May 28, 2026. The primary focus of the filing is the shareholder votes on several key corporate governance matters. All proposals presented to shareholders passed with significant approval, indicating general shareholder support for the current management and governance practices. Investors should note the strong support for the election of Class I directors, the advisory vote on executive compensation, and the ratification of KPMG LLP as the independent auditor. While all proposals passed, the level of 'votes withheld' and 'broker non-votes' on director elections and executive compensation are points for consideration regarding shareholder engagement and proxy voting. The ratification of KPMG received overwhelming approval, underscoring confidence in the company's financial oversight.
FTAI Aviation Ltd. 8-K Report, Material Agreement (Apr 30, 2026)
FTAI Aviation Ltd. (FTAI) announced the execution of a Fourth Amended and Restated Credit Agreement, significantly enhancing its financial flexibility. This agreement establishes a new Revolving Credit Facility with a total principal amount of up to $2,025,000,000, maturing on April 24, 2031. This facility, which includes a $50 million sub-limit for letters of credit, will be utilized for working capital, general corporate purposes, and strategic initiatives such as permitted acquisitions and investments. The new credit facility is underpinned by a robust guarantee structure from the Company and its material wholly-owned subsidiaries, and it is secured by a first-priority lien on substantially all of the assets of the borrower and guarantors. The agreement includes customary covenants, both affirmative and negative, designed to maintain financial health and operational integrity. Key financial covenants require maintaining a minimum Interest Coverage Ratio of 3.00x and a maximum Debt to EBITDA Ratio of 4.00x, with provisions for temporary increases in the latter in connection with significant acquisitions.
FTAI Aviation Ltd. 8-K Report, Financial Results (Apr 29, 2026)
FTAI Aviation Ltd. (FTAI) has filed an 8-K report on April 29, 2026, to announce its financial results for the fiscal quarter ended March 31, 2026. The primary driver of this filing is the accompanying press release, which contains the detailed financial performance and operational highlights for the period. Investors should refer to the press release (Exhibit 99.1) for specifics on revenue, profitability, and any significant business developments. While this 8-K primarily serves to incorporate the press release, it is crucial for investors to review the contents of Exhibit 99.1. This will provide insights into FTAI's performance in key areas such as fleet utilization, maintenance, repair, and overhaul (MRO) services, and any strategic initiatives undertaken during the quarter. The company also provides important context on how these results should be interpreted and their implications for future performance.
FTAI Aviation Ltd. 8-K Report, Executive Changes (Mar 6, 2026)
FTAI Aviation Ltd. (FTAI) announced significant executive leadership changes effective March 6, 2026. Nicholas McAleese has been appointed Chief Financial Officer (CFO), and Michael Hazan has been appointed Chief Accounting Officer (CAO). Both individuals have been promoted from within the company, bringing extensive experience in financial operations, accounting, and reporting. Mr. McAleese, formerly SVP of Financial Planning and Analysis, and Mr. Hazan, formerly SVP, Controller, have been instrumental in strengthening the company's financial functions. This internal promotion signals a focus on continuity and leveraging existing talent within FTAI's finance department. The company also confirmed the departure of Eun (Angela) Nam as CFO and CAO, who is leaving to pursue an opportunity outside the aviation industry. Her departure is stated to be amicable and unrelated to any financial or accounting issues, with Ms. Nam providing transition support.
View all 8-K filings →