NEW YORK and SANTIAGO, Chile, April 25, 2024 – FTAI Aviation Ltd. (NASDAQ: FTAI) announces the successful execution of a Perpetual Power Agreement with LATAM Airlines Group S.A. (LATAM).

The agreement provides LATAM with a comprehensive engine power solution comprising both CFM56 and V2500 engines, leveraging FTAI’s expertise in Maintain, Repair and Exchange (MRE), through an engine exchange program and a sale and lease transaction for over 30 aircraft. This program is designed to offer LATAM cost savings and flexibility by avoiding shop visits through engine exchanges, enhancing operational efficiency and reducing maintenance downtime for LATAM’s fleet.

David Moreno, Senior Executive at FTAI Aviation, stated, “This agreement with LATAM underscores FTAI’s ability to collaborate on customer-focused solutions. Our goal is to offer LATAM maximum flexibility as they decide on aircraft retirements or additions, leveraging on our expertise on CFM and V2500 engines.”

Sebastian Acuto, VP Fleet & Projects at LATAM highlighted, “Our new partnership with FTAI grants LATAM with increased flexibility to extend the current fleet, allowing for a better and faster response to the recent capacity disruptions that the industry has witnessed on newer technology aircraft.”