Fortress Transportation and Infrastructure Investors, LLC (NYSE: FTAI) and Société Air France, a wholly owned subsidiary of Air France – KLM S.A. (OTCMKTS: AFLYY; “Air France”) announce an agreement in which FTAI has agreed to purchase and leaseback 16 aircraft from Air France for an average term of 34 months. The aircraft are six A319s and ten A318s all powered by CFM56-5B engines. The transaction is expected to close in May 2020.
“We are excited to partner with the Air France team on this transaction,” said Joe Adams, FTAI’s Chairman and Chief Executive Officer. “FTAI’s flexible approach to leasing and expertise in the CFM engine market has allowed us to provide significant value to Air France.”