Investing.com -- FTAI Aviation Ltd (NASDAQ:FTAI) stock rose 4.5% in premarket trading Thursday after the company announced a multi-year agreement with CFM International to provide component and repair support for CFM56 engines.
The agreement with CFM, a joint venture between GE Aerospace and Safran Aircraft Engines, will strengthen FTAI’s ability to provide maintenance solutions for the CFM56 engine fleet, which is the largest commercial aircraft engine population globally. Under the terms of the deal, FTAI will secure OEM replacement parts, thrust performance upgrades, and component repair capabilities.
This partnership aims to extend the life of CFM56 engines through optimized repair and maintenance offerings, supporting the strong global demand for current generation narrowbody aircraft. The collaboration is expected to enhance the open maintenance, repair, and overhaul ecosystem.
"FTAI’s mission is to be the most efficient provider of aftermarket CFM56 engine solutions enabling airlines to focus on flight operations while lowering costs and improving fleet reliability," said Joe Adams, Chairman and CEO of FTAI Aviation.
The company emphasized that CFM56-powered aircraft continue to experience strong utilization, and FTAI expects the maintenance needs of the global fleet to remain robust through the next decade. David Moreno, Chief Operating Officer, noted that the agreement will help FTAI accelerate engine production volumes by providing access to new parts and repair solutions.
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