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SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION
11. SEGMENT INFORMATION
The key factors used to identify the reportable segments are the organization and alignment of the Company’s internal operations and the nature of its products and services. The Company’s two reportable segments are (i) Aerospace Products and (ii) Aviation Leasing. The Aerospace Products segment, through the Company’s maintenance facilities and joint ventures, among other investments, develops and manufactures, repairs/refurbishes and sells aircraft engines and aftermarket components for the CFM56-7B, CFM56-5B and V2500 commercial aircraft engines. The Aviation Leasing segment owns and manages aviation assets, including aircraft and aircraft engines, which it leases to lessees directly and through the Company’s equity method investment formed as part of the Company’s Strategic Capital Initiative.
Corporate and Other primarily consists of debt, unallocated corporate general and administrative expenses, internalization fee and management fees and incentive compensation pursuant to the Management Agreement prior to the Internalization effective May 28, 2024. Additionally, Corporate and Other also includes results from an offshore energy business, which consists of equipment that support offshore oil and gas activities and production, and expenses relating to FTAI Power.
The accounting policies of the segments are the same as those described in the summary of significant accounting policies; however, financial information presented by segment includes the impact of intercompany eliminations. The Company’s Chief Executive Officer is its Chief Operating Decision Maker (“CODM”). Segment information is presented in the same manner that the CODM reviews the operating results in assessing performance and allocating resources. The CODM evaluates performance for each reportable segment based on net income (loss) attributable to shareholders and is used to monitor budget vs. actual results.
The CODM determined that segment asset information is not a key factor in measuring performance or allocating resources. Therefore, segment asset information is not included in the tables below as it is not provided to or reviewed by the CODM.
The following tables set forth certain information, which include all significant expenses reviewed by the CODM, for each reportable segment (unaudited):
I. For the Three Months Ended June 30, 2026
Three Months Ended June 30, 2026
Aerospace ProductsAviation LeasingCorporate and OtherEliminationsTotal
Revenues
Aerospace products revenue$692,229 $— $— $— $692,229 
MRE Contract revenue182,799 — — — 182,799 
Lease income— 27,765 — — 27,765 
Maintenance revenue— 25,793 — — 25,793 
Asset sales revenue— 16,925 — — 16,925 
Other revenue (1)
— 7,574 — — 7,574 
Total revenues875,028 78,057 — — 953,085 
Expenses
Cost of sales614,529 21,253 — — 635,782 
Operating expenses10,997 11,785 44,785 — 67,567 
General and administrative— — 2,245 — 2,245 
Acquisition and transaction expenses144 1,848 3,707 — 5,699 
Depreciation and amortization4,903 40,985 1,098 — 46,986 
Total expenses630,573 75,871 51,835 — 758,279 
Other (expense) income
Interest expense— — (64,102)— (64,102)
Equity in (losses) earnings of unconsolidated entities (2)
(182)16,749 — (6,597)9,970 
Gain on sale to the 2025 Partnership— 2,465 — — 2,465 
Other income(59)7,237 396 — 7,574 
Total other (expense) income(241)26,451 (63,706)(6,597)(44,093)
Income (loss) before income taxes244,214 28,637 (115,541)(6,597)150,713 
Provision for (benefit from) income taxes49,970 7,771 (32,122)— 25,619 
Net income (loss)194,244 20,866 (83,419)(6,597)125,094 
Less: Dividends on preferred shares— — 3,709 — 3,709 
Less: Loss on redemption of preferred shares— — 3,800 — 3,800 
Net income (loss) attributable to shareholders$194,244 $20,866 $(90,928)$(6,597)$117,585 
(1)Includes servicing fees of 6,988 for the three months ended June 30, 2026 from the 2025 Partnership.
(2)Includes the profit elimination of $(6,597) for the three months ended June 30, 2026 for sales to the 2025 Partnership within the Aerospace Products segment.
Summary information with respect to the Company’s geographic sources of revenue, based on location of customer and lessee, is as follows:
Three Months Ended June 30, 2026
Aerospace ProductsAviation LeasingCorporate and OtherTotal
Revenues
Africa$9,500 $2,677 $— $12,177 
Asia91,560 16,397 — 107,957 
Europe255,838 28,410 — 284,248 
North America502,979 21,654 — 524,633 
South America15,151 8,919 — 24,070 
Total revenues (1)
$875,028 $78,057 $— $953,085 
(1)The United States, included in North America, and Ireland, included in Europe, represent 48% and 23% of total revenues, respectively, based on the location of the Company’s customers and lessees. No other country represents more than 10% of total revenues.
II. For the Six Months Ended June 30, 2026
Six Months Ended June 30, 2026
Aerospace ProductsAviation LeasingCorporate and OtherEliminationsTotal
Revenues
Aerospace products revenue$1,214,814 $— $— $— $1,214,814 
MRE Contract revenue404,029 — — — 404,029 
Lease income— 67,657 — — 67,657 
Maintenance revenue— 56,392 — — 56,392 
Asset sales revenue— 27,109 — — 27,109 
Other revenue (1)
— 13,781 — — 13,781 
Total revenues1,618,843 164,939 — — 1,783,782 
Expenses
Cost of sales1,125,541 34,509 — — 1,160,050 
Operating expenses21,836 22,060 88,658 — 132,554 
General and administrative— — 4,658 — 4,658 
Acquisition and transaction expenses129 6,034 15,897 — 22,060 
Depreciation and amortization9,581 87,470 2,224 — 99,275 
Total expenses1,157,087 150,073 111,437 — 1,418,597 
Other (expense) income
Interest expense— — (125,509)— (125,509)
Equity in (losses) earnings of unconsolidated entities (2)
(222)24,426 — (16,597)7,607 
Gain on sale to the 2025 Partnership— 17,633 — — 17,633 
Other income112 54,476 568 — 55,156 
Total other (expense) income(110)96,535 (124,941)(16,597)(45,113)
Income (loss) before income taxes461,646 111,401 (236,378)(16,597)320,072 
Provision for (benefit from) income taxes83,667 26,097 (52,685)— 57,079 
Net income (loss)377,979 85,304 (183,693)(16,597)262,993 
Less: Dividends on preferred shares— — 7,418 — 7,418 
Less: Loss on redemption of preferred shares— — 3,800 — 3,800 
Net income (loss) attributable to shareholders$377,979 $85,304 $(194,911)$(16,597)$251,775 
(1)Includes servicing fees of $12,849 for the six months ended June 30, 2026 from the 2025 Partnership.
(2)Includes the profit elimination of $(16,597) for the six months ended June 30, 2026 for sales to the 2025 Partnership within the Aerospace Products segment.
Summary information with respect to the Company’s geographic sources of revenue, based on location of customer and lessee, is as follows:
Six Months Ended June 30, 2026
Aerospace ProductsAviation LeasingCorporate and OtherTotal
Revenues
Africa$9,500 $5,219 $14,719 
Asia119,412 36,059 155,471 
Europe473,867 58,691 532,558 
North America985,976 49,327 1,035,303 
South America30,088 15,643 45,731 
Total revenues (1)
$1,618,843 $164,939 $— $1,783,782 
(1)The United States, included in North America, Bermuda, included in North America, and Ireland, included in Europe, represent 40%, 15% and 22% of total revenues, respectively, based on the location of our customers and lessees. No other country represents more than 10% of total revenues.
Presented below are the contracted minimum future annual revenues to be received under existing operating leases as of June 30, 2026:
June 30, 2026
Remainder of 2026
$39,751 
202763,852 
202847,678 
202928,186 
203018,166 
Thereafter23,331 
Total$220,964 
III. For the Three Months Ended June 30, 2025
Three Months Ended June 30, 2025
Aerospace ProductsAviation LeasingCorporate and Other
Eliminations
Total
Revenues
Aerospace products revenue$420,686 $— $— $— $420,686 
MRE contract revenue
69,585 — — — 69,585 
Lease income— 62,439 — — 62,439 
Maintenance revenue— 73,104 — — 73,104 
Asset sales revenue— 47,915 — — 47,915 
Other revenue (1)
— 2,508 — — 2,508 
Total revenues490,271 185,966 — — 676,237 
Expenses
Cost of sales317,469 51,789 — — 369,258 
Operating expenses8,989 11,089 14,250 — 34,328 
General and administrative— — 2,442 — 2,442 
Acquisition and transaction expenses1,414 577 2,498 — 4,489 
Depreciation and amortization3,704 50,423 1,109 — 55,236 
Total expenses331,576 113,878 20,299 — 465,753 
Other income (expense)
Interest expense— — (63,965)— (63,965)
Equity in earnings (losses) of unconsolidated entities (2)
714 (782)— (4,935)(5,003)
Gain on sale to the 2025 Partnership
— 34,604 — — 34,604 
Other income— 26,974 182 — 27,156 
Total other income (expense)714 60,796 (63,783)(4,935)(7,208)
Income (loss) before income taxes159,409 132,884 (84,082)(4,935)203,276 
Provision for (benefit from) income taxes25,827 26,453 (14,402)— 37,878 
Net income (loss)133,582 106,431 (69,680)(4,935)165,398 
Less: Dividends on preferred shares— — 3,709 — 3,709 
Net income (loss) attributable to shareholders$133,582 $106,431 $(73,389)$(4,935)$161,689 
(1)Includes servicing fees of $2,052 for the three months ended June 30, 2025 from the 2025 Partnership.
(2)Includes the profit elimination of $(4,935) for the three months ended June 30, 2025 for sales to the 2025 Partnership within the Aerospace Products segment.
Summary information with respect to the Company’s geographic sources of revenue, based on location of customer and lessee, is as follows:
Three Months Ended June 30, 2025
Aerospace ProductsAviation LeasingCorporate and OtherTotal
Revenues
Africa$17,000 $8,595 $— $25,595 
Asia39,327 54,211 — 93,538 
Europe126,444 83,257 — 209,701 
North America298,039 31,602 — 329,641 
South America9,461 8,301 — 17,762 
Total revenues (1)
$490,271 $185,966 $— $676,237 
(1)The United States, included in North America, and Ireland, included in Europe, represent 38% and 14% of total revenues, respectively, based on the location of the Company’s customers and lessees. No other country represents more than 10% of total revenues.
IV. For the Six Months Ended June 30, 2025
Six Months Ended June 30, 2025
Aerospace ProductsAviation LeasingCorporate and OtherEliminationsTotal
Revenues
Aerospace products revenue$685,111 $— $— $— $685,111 
MRE Contract revenue170,223 — — — 170,223 
Lease income— 130,879 — — 130,879 
Maintenance revenue— 122,711 — — 122,711 
Asset sales revenue— 66,854 — — 66,854 
Other revenue (1)
— 2,535 4 — 2,539 
Total revenues855,334 322,979 4 — 1,178,317 
Expenses
Cost of sales546,224 71,748 — — 617,972 
Operating expenses14,676 18,515 33,575 — 66,766 
General and administrative— — 5,558 — 5,558 
Acquisition and transaction expenses2,546 3,482 5,753 — 11,781 
Depreciation and amortization7,288 105,484 2,026 — 114,798 
Total expenses570,734 199,229 46,912 — 816,875 
Other income (expense)
Interest expense— — (126,005)— (126,005)
Equity in earnings (losses) of unconsolidated entities (2)
827 (1,559)— (11,885)(12,617)
Gain on sale to the 2025 Partnership— 45,474 — — 45,474 
Other income— 59,593 634 — 60,227 
Total other income (expense)827 103,508 (125,371)(11,885)(32,921)
Income (loss) before income taxes285,427 227,258 (172,279)(11,885)328,521 
Provision for (benefit from) income taxes45,202 43,801 (28,266)— 60,737 
Net income (loss)240,225 183,457 (144,013)(11,885)267,784 
Less: Dividends on preferred shares— — 9,824 — 9,824 
Less: Loss on redemption of preferred shares— — 6,327 — 6,327 
Net income (loss) attributable to shareholders$240,225 $183,457 $(160,164)$(11,885)$251,633 
(1)Includes servicing fees of $2,600 for the six months ended June 30, 2025 from the 2025 Partnership.
(2)Includes the profit elimination of $(11,885) for the six months ended June 30, 2025 for sales to the 2025 Partnership within the Aerospace Products segment.
Summary information with respect to the Company’s geographic sources of revenue, based on location of customer and lessee, is as follows:
Six Months Ended June 30, 2025
Aerospace ProductsAviation LeasingCorporate and OtherTotal
Revenues
Africa$26,482 $10,794 $— $37,276 
Asia82,286 86,352 4 168,642 
Europe223,316 157,301 — 380,617 
North America505,471 49,865 — 555,336 
South America17,779 18,667 — 36,446 
Total revenues (1)
$855,334 $322,979 $4 $1,178,317 
(1)The United States, included in North America, and Ireland, included in Europe, represent 33% and 16% of total revenues, respectively, based on the location of the Company’s customers and lessees. No other country represents more than 10% of total revenues.
V. Location of Long-Lived Assets
The following tables sets forth the geographic location of property, plant and equipment and leasing equipment, net:
June 30, 2026 (unaudited) December 31, 2025
Property, plant and equipment and leasing equipment, net
Africa$1,571 $17,174 
Asia269,851 323,542 
Europe418,302 587,359 
North America356,352 480,977 
South America235,039 256,820 
Total property, plant and equipment and leasing equipment, net (1)
$1,281,115 $1,665,872 
(1)The United States, included in North America, and Chile, included in South America, represents 20% and 14% of property, plant and equipment and leasing equipment, net, respectively, as of June 30, 2026. The United States, included in North America, represented 22% of property, plant and equipment and leasing equipment, net as of December 31, 2025. No other country represents more than 10% of property, plant and equipment and leasing equipment, net.