Mentioned:
FTAI Aviation is deepening their bet on CFM56 jet engines. But, why?
What’s happening:
- FTAI Aviation (NASDAQ: FTAI) has formed a new materials deal with CFM International for component supply and repair support for CFM56 jet engines
Why it matters:
- The new deal will give FTAI Aviation guaranteed access to original replacement parts of CFM56 engines to optimize performance and extend their life expectancy
Going deeper:
- CFM International is a joint venture formed by GE Aerospace and Safran Aircraft Engines to specifically support the CFM56 family of engines
- FTAI Aviation just recently made major waves on Wall Street when they launched a new division known as FTAI Power which will convert CFM56 jet engines into power turbines to provide electricity to data centres directly on site with 25 megawatts of total capacity
Market reaction:
- Shares of FTAI Aviation are have surged more than +50% since they publicly stated they would begin producing power turbines
