NEW YORK, Sept. 8, 2015 (GLOBE NEWSWIRE) -- Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI) (the "Company") today announced the acquisition of two Next Generation Boeing 737-800 aircraft built in 2008. The aircraft are currently being operated by a Chinese carrier.
The transaction brings FTAI's aviation portfolio to a total of 57 assets, consisting of 17 aircraft and 40 engines, with an average remaining lease term of 35 months for the aircraft and 18 months for the engines.
Joe Adams, FTAI's Chief Executive Officer, commented, "We continue to view current generation Boeing 737-700 and Boeing 737-800 aircraft as attractive assets in today's market. Over the next few years, as current generation aircraft are replaced by the MAX program, we believe Boeing 737-700s and 800s will move directly into our target market. This transaction adds two current generation assets that fit well into our portfolio of high-quality aircraft and aircraft engines. With this acquisition, we have closed on approximately $140 million in new aviation investments since our initial public offering."
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.
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, such as statements regarding the replacement of current generation aircraft and the movement of current generation aircraft into the Company's target market. These statements are based on 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 the Company's control. The Company can give no assurance that its expectations will be attained. 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" incorporated by reference in the Company's Quarterly Reports on Form 10-Q, which are available on the Company's website (www.ftandi.com). In addition, new risks and uncertainties emerge from time to time, and it is not possible for the Company 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. The Company expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.
CONTACT: For further information, please contact: Alan Andreini Investor Relations Fortress Transportation and Infrastructure Investors LLC (212) 798-6128 firstname.lastname@example.org
Source:Fortress Transportation and Infrastructure Investors LLC