Adjustments for Non-Cash Items (USD, thousands)

Stock-Based Compensation (USD, thousands)

Changes in Working Capital (USD, thousands)

Capital Expenditures (CapEx) (USD, thousands)

Proceeds from Debt (USD, thousands)

Repayments of Debt (USD, thousands)

Share Repurchases (USD, thousands)

Dividend Payments (USD, thousands)

Net Change in Cash (USD, thousands)

7779a3757c7fee59667d71b5ad1d3b5cba5a2387b63de42a3011224f64a300f5

3160aeba0732c5638165caf05c961f47510da898a65bc4d3592a1f2792f7fa7a

9089d437a8a96e02258d47e0ed5c206594b3863fbf206ddc2f17b9b497ff0fbe

Total Revenues (USD, thousands)

Cost of Sales (USD, thousands)

Operating Expenses (USD, thousands)

General and Administrative Expenses (USD, thousands)

Acquisition and Transaction Expenses (USD, thousands)

Management Fees and Incentive Allocation to Affiliate (USD, thousands)

Depreciation and Amortization (USD, thousands)

Asset Impairment (USD, thousands)

Total Expenses (USD, thousands)

Equity in Losses (Earnings) of Unconsolidated Entities (USD, thousands)

Interest Expense (USD, thousands)

Other Income (Expense) (USD, thousands)

Total Other Expense (USD, thousands)

Income (Loss) Before Income Taxes (USD, thousands)

Provision for (Benefit from) Income Taxes (USD, thousands)

Net Income (Loss) (USD, thousands)

Less: Dividends on Preferred Shares (USD, thousands)

Net Income (Loss) Attributable to Shareholders (USD, thousands)

e6985e2d03ed6c85be51e5ce4c0b41461edaee96dd2feae032d7954f97bf838a

FTAI's sharp revenue increase in FY 2023 was driven by several factors including a significant **aerospace products revenue growth**—with an increase of **$276,455 thousand**—as operations ramped up, along with notable increases in **asset sales revenue** (**$119,606 thousand**), **maintenance revenue** (**$42,501 thousand**) and **lease income** (**$28,622 thousand**).  **[0001590364-24-000003_ftai-20231231.htm:60]** **[0001590364-24-000003_ftai-20231231.htm:70]** **[0001590364-24-000003_ftai-20231231.htm:88]** 

What drove the sharp revenue increase in FY 2023?

The jump in Q2 2024 revenues was primarily fueled by a **substantial increase in Aerospace Products Revenue**, which rose from **$92,725 thousand** to **$245,200 thousand** due to higher sales of key engine models and associated components. Additionally, **Maintenance Revenue** increased by **$9,122 thousand** and **Lease Income** grew by **$11,213 thousand**, while **Other Revenue** saw a slight uplift, all of which contributed to the overall revenue boost despite a minor dip in Asset Sales Revenue.  **[0001590364-24-000016_ftai-20240630.htm:33]** **[0001590364-24-000016_ftai-20240630.htm:6]** 

What fueled the jump in Q2 2024 revenues?

In Q2 2024, **FTAI's net income turned sharply negative** primarily due to a **one-time $300 million internalization fee** incurred during its internalization process.  **[0001590364-24-000016_ftai-20240630.htm:52]** **[0001590364-24-000016_ftai-20240630.htm:53]**  This expense, along with an increase in **interest expenses of $16.7 million** and **acquisition and transaction expenses of $4.3 million**, outweighed the benefits from revenue growth and a reduction in the tax provision, resulting in the large negative net income.  **[0001590364-24-000016_ftai-20240630.htm:44]** **[0001140361-24-033916_ef20032834_ex99-1.htm:4]** 

Why did net income turn sharply negative in Q2 2024?

3f429e4109f2c64c1c7742950a1f5f300326ecd337be2835cafa0f7389aeec04

Aviation Leasing

- Lease Income

- Maintenance Revenue

- Asset Sales Revenue

- Other Revenue

Lease Income

Maintenance Revenue

Asset Sales Revenue

Other Revenue

Aerospace Products

Corporate and Other

Total Revenue

cf0a92e709ad9adfde30214b80d3efbbf0648b4eaef59fd32bfc82576055554c

Africa

Asia

Europe

North America

South America

f5a594d5e4c381dffd31a720e9e77426603385edc5b80840135967b3f2fcc2bd

d7606a7ef80212aff8f00812962e5a8e9de95140e60ec5925682be3dadcab007

Cash and cash equivalents (USD, thousands)

Restricted cash (USD, thousands)

Accounts receivable, net (USD, thousands)

Leasing equipment, net (USD, thousands)

Property, plant, and equipment, net (USD, thousands)

Investments (USD, thousands)

Intangible assets, net (USD, thousands)

Assets held for sale (USD, thousands)

Goodwill (USD, thousands)

Inventory, net (USD, thousands)

Other assets (USD, thousands)

Total assets (USD, thousands)

Accounts payable and accrued liabilities (USD, thousands)

Debt, net (USD, thousands)

Maintenance deposits (USD, thousands)

Security deposits (USD, thousands)

Other liabilities (USD, thousands)

Total liabilities (USD, thousands)

Ordinary shares (USD, thousands)

Preferred shares (USD, thousands)

Additional paid in capital (USD, thousands)

Accumulated deficit (USD, thousands)

Shareholders' equity (USD, thousands)

Non-controlling interest in equity of consolidated subsidiaries (USD, thousands)

Total equity (USD, thousands)

Total liabilities and equity (USD, thousands)

90cf1ead2e2d4ab9293565a1e1bd5e5ebb84e932d4ae1119a7195189d98d7dad

FTAI Aviation Ltd (FTAI)

Financials