FTAI Aviation has successfully finalised the acquisition of Lockheed Martin Commercial Engine Solutions (LMCES), a 526,000 ft² aircraft engine maintenance and repair facility based in Montréal, Québec. This acquisition from Lockheed Martin Canada bolsters FTAI Aviation's maintenance, repair, and exchange (MRE) business, enhancing its ability to deliver comprehensive maintenance services to airline customers.
The integration of LMCES's maintenance capabilities with FTAI's existing facilities at QuickTurn in Miami, Florida, will significantly expand FTAI's service capacity. The combined operations will now be able to conduct up to 1,350 CFM56 module overhauls and more than 500 engine tests each year. Following the acquisition, both facilities will be rebranded as FTAI Aviation Canada and FTAI Aviation USA.
Joe Adams, CEO of FTAI, commented on the acquisition, stating, “Completing the acquisition of LMCES is a major step towards FTAI Aviation becoming the unrivalled leader in MRE. We look forward to continuing to serve our global customer base by providing readily available, flexible, high-quality power while saving owners and operators time and money.”
FTAI Aviation focuses on the maintenance, repair, and exchange of commercial jet engines, specialising in CFM56 and V2500 engines. The company's proprietary products, including its Module Factory and a joint venture for manufacturing engine PMA, aim to simplify and accelerate engine maintenance while improving cost-effectiveness and environmental sustainability. Additionally, FTAI owns and leases jet aircraft, often acquiring engines at advantageous prices. The company invests in aviation assets and aerospace products to generate robust cash flows with growth and asset appreciation potential.
