FTAI - FTAI Aviation Acquires Full Ownership Stake in QuickTurn | Benzinga
NEW YORK and MIAMI, Dec. 01, 2023 (GLOBE NEWSWIRE) -- FTAI Aviation Ltd. (NASDAQ:FTAI) announced its full ownership stake in QuickTurn Engine Center ("QuickTurn") following its acquisition of Unical Aviation Inc.'s 50% interest.
Owning 100% of QuickTurn is expected to give FTAI tighter integration over the development and delivery of The Module Factory™ products and services. QuickTurn's commitment to delivering industry-leading turnaround times aligns seamlessly with FTAI's engine module maintenance strategy and further strengthens FTAI's ability to produce, service and test CFM56-7B/5B engines.
"We extend our thanks to Unical for a year of invaluable partnership. Acquiring complete ownership of QuickTurn allows us to meet the rising demand for module products by our customers," said Joe Adams, CEO of FTAI. "We are excited to make QuickTurn our shop for module swaps."
"We are excited to support FTAI's growing pipeline of CFM56 engine maintenance with our additional capacity," said Chris Nagle, Vice President of Commercial and Business Development at QuickTurn. "With the significant growth of module maintenance this year, we expect to become an industry leader in ...