10-KPeriod: FY2017

FTAI Aviation Ltd. Annual Report, Year Ended Dec 31, 2017

Filed March 1, 2018For Securities:FTAIFTAIMFTAIN

Summary

FTAI Aviation Ltd. (FTAI) reported its 2017 financial results, showcasing significant revenue growth across its business segments, particularly in Aviation Leasing and Offshore Energy, driven by an expanding asset base and increased utilization. The company's financial performance in 2017 saw total revenues reach $217.7 million, a substantial increase from $148.7 million in 2016. This growth was fueled by higher lease income and maintenance revenue in the Equipment Leasing segment, alongside contributions from infrastructure assets. Despite an increase in operating expenses and interest expense due to new debt financing, FTAI managed to narrow its net loss attributable to shareholders to $0.13 million for the year, a significant improvement from a net loss of $20.1 million in 2016. The company ended the year with total assets of $2.0 billion and total equity of $1.0 billion.

Financial Highlights

45 data points
Beta

Revenue

$185.05M

Net Income

$134K

0.1% Net Margin

EPS (Diluted)

$0.00

Total Assets

$1.96B

Cash & Equivalents

$92.81M

Free Cash Flow

-$47.53M

Financial Statements
Beta
Revenue$185.05M
Operating Expenses$223.90M
Operating Income$801K
Interest Expense$37.80M
Net Income$134K
Shares Outstanding (Basic)75.77M
Shares Outstanding (Diluted)75.77M

Key Highlights

  • 1Total revenues increased by 46.3% to $217.7 million in 2017 from $148.7 million in 2016.
  • 2Aviation Leasing segment revenue grew significantly, up 61.3% year-over-year, driven by an increase in leased aircraft and engines.
  • 3Infrastructure segment revenue saw a modest increase, up 2.0% year-over-year, with growth in Rail offsetting declines in Jefferson Terminal.
  • 4Net loss attributable to shareholders improved significantly, narrowing from $20.1 million in 2016 to $0.1 million in 2017.
  • 5Total assets grew to $2.0 billion as of December 31, 2017, from $1.5 billion as of December 31, 2016, reflecting continued investment in assets.
  • 6The company declared quarterly dividends of $0.33 per share throughout 2017, totaling $1.32 for the year.
  • 7Debt levels increased significantly with new borrowings, including Senior Notes totaling $450 million by year-end 2017, to fund acquisitions and general corporate purposes.

Frequently Asked Questions

FTAI Aviation Ltd. reported total revenues of $217.7 million for the year ended December 31, 2017, an increase of 46.3% from $148.7 million in the prior year. This growth was driven primarily by the Aviation Leasing and Offshore Energy segments.

FTAI Aviation Ltd. significantly improved its profitability in 2017. The net loss attributable to shareholders decreased substantially from $20.1 million in 2016 to $0.1 million in 2017, indicating a strong positive trend in operational performance and cost management.

As of December 31, 2017, FTAI Aviation Ltd. had total assets of $2.0 billion and total equity of $1.0 billion. The company's debt position increased significantly in 2017 due to new borrowings, including $450 million in Senior Notes, to fund its investment strategy and general corporate purposes.