Fortress Transportation and Infrastructure Investors LLC and Air France Announce an Agreement for the Sale and Leaseback of S...
April 30 2020 - 6:57AM
Fortress Transportation and Infrastructure Investors, LLC (NYSE:
FTAI) and Société Air France, a wholly owned subsidiary of Air
France – KLM S.A. (OTCMKTS: AFLYY; “Air France”) announce an
agreement in which FTAI has agreed to purchase and leaseback 16
aircraft from Air France for an average term of 34 months. The
aircraft are six A319s and ten A318s all powered by CFM56-5B
engines. The transaction is expected to close in May 2020.
“We are excited to partner with the Air France
team on this transaction,” said Joe Adams, FTAI’s Chairman and
Chief Executive Officer. “FTAI’s flexible approach to leasing and
expertise in the CFM engine market has allowed us to provide
significant value to Air France.”
About Fortress Transportation and
Infrastructure Investors LLC
Fortress Transportation and Infrastructure
Investors LLC owns and acquires high quality infrastructure and
equipment that is essential for the transportation of goods and
people globally. FTAI targets assets that, on a combined basis,
generate strong and stable cash flows with the potential for
earnings growth and asset appreciation. FTAI is externally managed
by an affiliate of Fortress Investment Group LLC, a leading,
diversified global investment firm.
About Air France – KLM S.A.
Air France, a French airline with high standards
and a caring attitude, turns the flight into a moment of real
pleasure on all its daily operations in France, Europe and
worldwide.
Air France-KLM is the leading Group in terms of
international traffic on departure from Europe. It offers its
customers access to a network covering 312 destinations in 116
countries thanks to Air France, KLM Royal Dutch Airlines and
Transavia. With a fleet of 550 aircraft in operation and 101.4
million passengers carried in 2018, Air France-KLM operates up to
2,300 daily flights, mainly from its hubs at Paris-Charles de
Gaulle and Amsterdam-Schiphol.
Cautionary Note Regarding
Forward-Looking Statements
Certain statements in this press release may
constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, including, but
not limited to, statements regarding the closing of the transaction
in May 2020 and FTAI and Air France working together on future
opportunities. These statements are based on each of FTAI and
Air France management's current expectations and beliefs and are
subject to a number of trends and uncertainties that could cause
actual results to differ materially from those described in the
forward-looking statements, many of which are beyond FTAI’s and Air
France’s control. FTAI and Air France can give no assurance that
each of its expectations will be attained and such differences may
be material. Accordingly, you should not place undue reliance on
any forward-looking statements contained in this press release. For
a discussion of some of the risks and important factors that could
affect such forward-looking statements, see the sections entitled
“Risk Factors” and “Management’s Discussion and Analysis of
Financial Condition and Results of Operations” in FTAI’s most
recent Annual Report on Form 10-K and Quarterly Reports on Form
10-Q, which are available on the Company’s website
(www.ftandi.com), and any relevant reports prepared by Air France.
In addition, new risks and uncertainties emerge from time to time,
and it is not possible for FTAI or Air France to predict or assess
the impact of every factor that may cause its actual results to
differ from those contained in any forward-looking statements. Such
forward-looking statements speak only as of the date of this press
release. FTAI and Air France expressly disclaim any obligation to
release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in their
expectations with regard thereto or change in events, conditions or
circumstances on which any statement is based. This release shall
not constitute an offer to sell or the solicitation of an offer to
buy any securities.
For further information, please
contact:
Alan AndreiniInvestor RelationsFortress
Transportation and Infrastructure Investors LLC(212)
798-6128aandreini@fortress.com
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