NEW YORK and MONTRÉAL, Sept. 09, 2024 – FTAI Aviation Ltd. (NASDAQ: FTAI) announces the successful completion of its acquisition of Lockheed Martin Commercial Engine Solutions (“LMCES”), a 526,000-square-foot aircraft engine maintenance repair facility located in Montréal, Québec, from Lockheed Martin Canada. The completion of the acquisition strengthens FTAI Aviation’s Maintenance, Repair, and Exchange (MRE) business with the ability to provide additional maintenance services to airline customers.

The integration of LMCES’ maintenance capabilities with FTAI’s current maintenance capabilities at QuickTurn, in Miami, Florida, gives FTAI capacity to perform up to 1,350 CFM56 module overhauls and over 500 engine tests annually. Both facilities will rebrand as FTAI Aviation Canada and FTAI Aviation USA.

"Completing the acquisition of LMCES is a major step towards FTAI Aviation becoming the unrivaled leader in MRE. We look forward to continuing to serve our global customer base by providing readily available, flexible, high-quality power while saving owners and operators time and money," said Joe Adams, CEO of FTAI.