FTAI Aviation has reported a net profit of $117.7 million for the third quarter of the year, up from $86.5 million a year prior.
Revenues increased from $465.8 million to $667.1 million in the quarter. Expenses totalled $466.2 million, up from $316.5 million. Adjusted EBITDA was $297.4 million for the quarter, up from $232 million.
On the back of its strong performance, the company raised its adjusted EBITDA guidance for 2026 from $1.4bn to $1.525bn. This comprises of around $1bn from aerospace products and $525 million from aviation leasing.
“Our business had a strong quarter underpinned by continued growth in aerospace products allowing us to increase guidance for 2026 and raise our ordinary dividend,” said FTAI chairman and CEO Joe Adams.
The company declared a cash dividend on its ordinary shares of $0.35 per share for the third quarter, payable on November 19, 2025, an increase of $0.30 per share in the previous quarter.
Additionally, on October 27, 2025, the board declared cash dividends on its series C preferred shares and series D preferred shares of $0.52 and $0.59 per share, respectively, for the September quarter, payable on December 15, 2025.
Aerospace products revenue totalled $459.2 million for the third quarter, up from $303.5 million. Leasing revenues dropped from 65.5 million last year, down to $55.1 million.
The company also completed the fundraising for its inaugural strategic capital initiative vehicle (FTAI SCI I), hitting its upsized hard cap of $2bn of equity commitments up from the original target of $1.5bn.
The vehicle will be dedicated to acquiring mid-life, current generation aircraft with purchasing power of over $6bn, including current and future debt financing.
"We made the strategic decision less than one year ago to launch an asset management business with the initial strategy focused on acquiring on-lease, mid-life aircraft and we are thrilled with the group of institutional investors that have supported us in the inaugural vehicle,” said Adams. “At FTAI, we are a leader in aftermarket engine maintenance for the CFM56 and V2500 engines and look forward to also being one of the largest lessors in the world of these aircraft.”
“We believe the $300bn dollar mid-life, current generation aircraft market is in need of a well-capitalised buyer that can also support the engine requirements of airlines globally as fleets continue to extend their operating life,” said FTAI Aviation head of strategic capital Kallie Steffes. “Our global engine maintenance footprint will enable us to combine our aircraft investing acumen and differentiated operational capability to deliver compelling risk-adjusted returns for our investors.”
FTAI SCI I has invested $1.4bn thus far acquiring 101 aircraft and has an additional $2.1bn of aircraft under contract, bringing the vehicle to 190 aircraft closed or under LOI, with full deployment expected by the end of the first half of 2026.