8-KFinancial EventsExhibits & Filings

FTAI Aviation Ltd. 8-K Report, Auditor Change (Jun 24, 2025)

Filed June 24, 2025For Securities:FTAIFTAIMFTAIN

Summary

FTAI Aviation Ltd. (FTAI) has announced a change in its independent registered public accounting firm. Effective June 17, 2025, the Audit Committee of FTAI's Board of Directors has engaged KPMG LLP as the new auditor for the fiscal year ending December 31, 2025. This change follows a comprehensive, competitive selection process. Concurrently, FTAI has dismissed Ernst & Young LLP (EY), which had served as the Company's auditor since 2016. The dismissal of EY is stated to be amicable and not a result of any dissatisfaction with EY's professional services. The company's Audit Committee Chair noted that the change is part of good corporate governance, occurring after the company's successful internalization and termination of a transition services agreement, and represents an opportune moment to review auditor selection. Financial reporting for fiscal years 2023 and 2024 and the interim period up to June 17, 2025, showed no disagreements or reportable events with EY.

Key Highlights

  • 1FTAI Aviation Ltd. is changing its independent auditor to KPMG LLP for the fiscal year ending December 31, 2025.
  • 2Ernst & Young LLP (EY) has been dismissed as the Company's auditor after nearly a decade of service.
  • 3The change in auditors was approved by the Audit Committee following a competitive selection process.
  • 4The dismissal of EY is not due to any dissatisfaction with their professional services.
  • 5The decision to change auditors is framed as a measure of good corporate governance, especially following significant company changes.
  • 6There have been no disagreements or reportable events with EY in the fiscal years 2023, 2024, or the interim period of 2025.
  • 7A letter from EY confirming agreement with the company's disclosures regarding the dismissal has been filed with the SEC.

Frequently Asked Questions

FTAI Aviation Ltd. is changing its auditor as part of a proactive corporate governance initiative. The Audit Committee conducted a competitive selection process and determined that engaging KPMG LLP is appropriate at this time, particularly after the company's successful internalization and termination of its transition services agreement. The change is not attributed to any dissatisfaction with the services provided by EY.

No, the filing explicitly states that the dismissal of EY was not the result of any dissatisfaction with the quality of professional services rendered. Furthermore, there have been no disagreements on any accounting principles, financial statement disclosures, or auditing procedures, nor any reportable events, with EY during the fiscal years 2023, 2024, and the subsequent interim period through June 17, 2025.

For investors, this change signals a routine but important governance practice. The engagement of a new auditor, KPMG, for the upcoming fiscal year suggests a desire for fresh perspective and adherence to robust governance standards. The amicable nature of the change and the absence of any reported disagreements or issues with the previous auditor, EY, suggest that this is a strategic decision rather than a response to any financial irregularities or audit concerns.

According to the filing, FTAI and its representatives have not consulted with KPMG LLP on any accounting principles, the type of audit opinion, or any matters that were the subject of a disagreement or reportable event prior to their formal engagement. This indicates that KPMG's appointment is a new relationship without prior significant advisory involvement on these specific matters.