FTAI Aviation Ltd.
For the period ended Sep 30, 2025. Filed Oct 29, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Oct 29, 2025
FTAI$180.27+11.0%Stored close · as of Nov 6, 2026
Contents
Item 1. Consolidated Statements of Operations for the three and nine months ended September 30, 2025 and 2024
CONSOLIDATED STATEMENTS OF OPERATIONS(unaudited)
(Dollars in thousands, except share and per share data)
| Three Months Ended September 30, · Nine Months Ended September 30, | |||||
|---|---|---|---|---|---|
| Notes | 2025 | 2024 | 2025 | 2024 | |
| Revenues | |||||
| Aerospace products revenue | 2 | $459,206 | $303,469 | $1,144,317 | $737,726 |
| MRE Contract revenue | 2, 11 | 58,663 | — | 228,886 | — |
| Lease income | 2 | 55,072 | 65,450 | 185,951 | 189,365 |
| Maintenance revenue | 2 | 52,370 | 59,917 | 175,081 | 156,894 |
| Asset sales revenue | 2 | 38,461 | 34,953 | 105,315 | 145,993 |
| Other revenue (1) | 3,292 | 2,005 | 5,831 | 6,104 | |
| Total revenues | 12 | 667,064 | 465,794 | 1,845,381 | 1,236,082 |
| Expenses | |||||
| Cost of sales | 362,922 | 219,496 | 980,894 | 568,157 | |
| Operating expenses | 2 | 39,092 | 26,858 | 105,858 | 81,274 |
| General and administrative | 1,829 | 4,045 | 7,387 | 10,697 | |
| Acquisition and transaction expenses | 7,066 | 9,341 | 18,847 | 23,539 | |
| Management fees and incentive allocation to affiliate | 11 | — | — | — | 8,449 |
| Internalization fee to affiliate | 15 | — | — | — | 300,000 |
| Depreciation and amortization | 4, 6 | 55,278 | 56,775 | 170,076 | 163,386 |
| Asset impairment | — | — | — | 962 | |
| Total expenses | 466,187 | 316,515 | 1,283,062 | 1,156,464 | |
| Other (expense) income | |||||
| Interest expense | (60,784) | (57,937) | (186,789) | (160,840) | |
| Loss on extinguishment of debt | — | — | — | (13,920) | |
| Equity in losses of unconsolidated entities (2) | 5 | (4,224) | (438) | (16,841) | (1,799) |
| Gain on sale to the 2025 Partnership | 4,609 | — | 50,083 | — | |
| Other income | 3,570 | 2,909 | 63,797 | 3,045 | |
| Total other expense | (56,829) | (55,466) | (89,750) | (173,514) | |
| Income (loss) before income taxes | 144,048 | 93,813 | 472,569 | (93,896) | |
| Provision for (benefit from) income taxes | 10 | 26,330 | 7,331 | 87,067 | (130) |
| Net income (loss) | 117,718 | 86,482 | 385,502 | (93,766) | |
| Less: Dividends on preferred shares | 3,709 | 8,335 | 13,533 | 25,005 | |
| Less: Loss on redemption of preferred shares | — | — | 6,327 | — | |
| Net income (loss) attributable to shareholders | $114,009 | $78,147 | $365,642 | $(118,771) | |
| Earnings (loss) per share: | 13 | ||||
| Basic | $1.11 | $0.76 | $3.57 | $(1.17) | |
| Diluted | $1.10 | $0.76 | $3.52 | $(1.17) | |
| Weighted average shares outstanding: | |||||
| Basic | 102,569,415 | 102,380,659 | 102,560,285 | 101,199,356 | |
| Diluted | 103,966,650 | 103,395,348 | 103,951,713 | 101,199,356 | |
(2) Includes the profit elimination of $(3,908) and $(15,793) for the three and nine months ended September 30, 2025, respectively, for sales to the 2025 Partnership.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.