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    FTAI Aviation Ltd (FTAI)

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    Business Description

    FTAI Aviation Ltd. is a company that specializes in acquiring, managing, and disposing of transportation and transportation-related equipment assets. The company operates primarily in the aviation sector, focusing on leasing aviation equipment and developing aerospace products. FTAI sells aviation equipment assets, such as aircraft and engines, and manufactures aftermarket components for aircraft engines.

    1. Aerospace Products - Develops and manufactures aftermarket components for aircraft engines, supporting the aviation industry by providing essential parts and services for aircraft engines .
    2. Aviation Leasing - Acquires aviation equipment assets, such as aircraft and engines, and leases them to companies that provide transportation services, offering long-term contractual cash flow with high cash-on-cash yields .
    3. Lease Income - Generates revenue through leasing aviation equipment to transportation service providers .
    4. Maintenance Revenue - Provides maintenance services for aviation equipment, contributing to the company's revenue stream .
    5. Asset Sales Revenue - Involves selling aviation equipment assets, contributing to the company's overall revenue .
    6. Other Revenue - Includes additional revenue streams that complement the company's main business activities .

    Key Metrics

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    Executive Team

    NamePositionStart DateShort Bio
    Joseph P. Adams, Jr.Chief Executive Officer and Chairman of the BoardMay 2015 (CEO), May 2016 (Chairman)Joseph P. Adams, Jr. has served as the Chief Executive Officer of FTAI since May 2015 and became the Chairman of the Board in May 2016. He is also a member of the Management Committee of Fortress Investment Group LLC and a Managing Director at Fortress within the Private Equity Group. Mr. Adams has extensive experience in the transportation industry and has served on various boards, providing valuable insights and guidance on financial and strategic planning matters .
    Eun (Angela) NamChief Financial Officer and Chief Accounting OfficerAugust 2022 (CFO), August 2018 (CAO)Eun (Angela) Nam has been serving as the Chief Financial Officer of FTAI Aviation since August 2022 and as the Chief Accounting Officer since August 2018. She is also a Senior Vice President of the Fortress Private Equity group and has been involved in various mergers and acquisitions and capital markets transactions. Before joining Fortress in 2014, Ms. Nam worked in KPMG LLP's audit and risk advisory services for over ten years. She holds a Bachelor of Business Administration in Finance and Accounting from Emory University and is a certified public accountant .
    David MorenoSenior ExecutiveN/ADavid Moreno is a senior executive at FTAI Aviation Ltd. However, the documents do not provide specific details about his start date or further biographical information. The available information only confirms his current role within the company .

    Questions to Ask Management

    1. Given the significant margin expansion in your Aerospace Products segment, surpassing your historical 35% target, how sustainable are these margins in the face of potential cost increases or market changes, and what specific factors could pressure these margins going forward?

    2. As you rely heavily on sourcing run-out engines for your business model, how are you addressing the risks of tighter supply and higher acquisition costs in the current market, and can this affect your ability to maintain margins and growth targets?

    3. With your ambitious capital management plans involving significant investments in engine acquisitions and facility expansions, how do you plan to balance these investments with your goal of maintaining leverage ratios within your target range of 3x to 3.5x debt to EBITDA?

    4. Considering that you currently serve only about one-sixth of the potential operator base for your module factory services, what are the key barriers preventing further market penetration, and how do you plan to overcome competitive challenges to significantly increase your market share?

    5. Given the potential delays in material procurement and repair services due to global supply chain disruptions, how might extended lead times impact your throughput and margins, and what strategies are you implementing to mitigate these supply chain risks?