Aircraft Orders & Deliveries
FTAI Aviation Prices $612M Inaugural Asset-Backed Securitization
FTAI Aviation raises $612 million through its first asset-backed securitization backed by 48 narrowbody aircraft leased globally.

This article is based on an official press release from FTAI Aviation.
On May 22, 2026, FTAI Aviation Ltd. announced the successful pricing of its inaugural asset-backed securitization (ABS), marking a significant milestone in the company’s capital strategy. According to the official press release, the $612 million issuance, designated as FTAI MRE 2026-1, is backed by a robust portfolio of narrowbody Commercial-Aircraft.
The transaction allows FTAI to diversify its financing sources and deepen its footprint in the capital markets. Company reports indicate that the offering was significantly oversubscribed, signaling strong investor demand for aviation-backed assets in the current macroeconomic climate.
Transaction Details and Financial Structure
The $612 million issuance is collateralized by a portfolio of 48 narrowbody aircraft, specifically Airbus A320ceo and Boeing 737NG models. The press release notes that these aircraft are currently on lease to 23 different Airlines worldwide, providing a diversified revenue stream to support the notes.
Note Ratings and Financial Partners
The transaction is structured with two classes of investment-grade notes. The Series A Notes are expected to receive ratings of Asf and A(sf) from Fitch Ratings and Kroll Bond Rating Agency (KBRA), respectively. Meanwhile, the Series B Notes are expected to be rated BBB+sf by Fitch Ratings. According to the company, the transaction is slated to close on June 4, 2026.
Several major financial institutions are involved in the deal. ATLAS SP Partners and Deutsche Bank served as joint structuring agents and joint lead bookrunners. BNP Paribas, Citigroup, and PNC Capital Markets acted as joint bookrunners, with Standard Chartered Bank and KeyBanc Capital Markets serving as co-managers. Gibson, Dunn & Crutcher LLP provided legal counsel for the issuer.
The Strategic Capital Initiative Background
To understand the origins of the aircraft backing this ABS, it is necessary to look at FTAI’s Strategic Capital Initiative (SCI). The aircraft are owned by FTAI’s first Strategic Capital vehicle, FTAI SCI I. According to company statements, this asset management business was launched to acquire mid-life, on-lease aircraft.
The inaugural vehicle completed its fundraising in October 2025, reaching an upsized hard cap of $2.0 billion in equity commitments, surpassing its initial $1.5 billion target. As of May 2026, the Strategic Capital vehicle owns 292 aircraft. Supported by a $2.5 billion asset-level debt financing commitment led by ATLAS SP Partners and Deutsche Bank, the vehicle was designed to have a purchasing power exceeding $6 billion.
Management Perspectives
Company leadership emphasized the strategic importance of the securitization. Kallie Steffes, Head of Strategic Capital at FTAI, highlighted the milestone in the press release:
“This inaugural securitization is an important milestone for FTAI and our Strategic Capital vehicles as we diversify our financing sources and deepen our presence in the capital markets,” Steffes stated.
Steffes also commented on the market’s reception to the offering, noting the validation of the company’s business model:
“We believe the strong investor interest in the offering is an affirmation of our differentiated approach to investing in narrowbody aircraft, which combines FTAI’s leading engine maintenance capabilities with aircraft ownership.”
Industry Context and Market Tailwinds
FTAI Aviation’s core business revolves around the Maintenance, Repair, and Exchange (MRE) of widely used commercial jet engines, specifically the CFM56 and V2500. The Strategic Capital Initiative enables FTAI to partner with institutional investors to acquire aircraft at scale while maintaining an “asset-light” balance sheet. The engines on these acquired aircraft are then serviced exclusively by FTAI’s proprietary MRE business.
The aviation sector is currently experiencing prolonged supply-chain disruptions and shortages of new aircraft deliveries. As a result, airlines are compelled to extend the service life of older, mid-life aircraft like the 737NG and A320ceo. This trend makes FTAI’s focus on acquiring mid-life aircraft and providing cost-effective engine maintenance highly relevant to current industry needs.
AirPro News analysis
We observe that FTAI is successfully bridging the gap between traditional aircraft leasing and specialized engine maintenance. The oversubscribed $612 million ABS demonstrates that capital markets are validating FTAI’s unique model: controlling the aircraft to feed a highly profitable engine maintenance pipeline.
Furthermore, the macroeconomic environment is providing significant tailwinds. Global aircraft shortages and persistent supply chain woes are elevating the value of mid-life planes and the companies equipped to maintain them. FTAI Aviation’s massive growth, reaching an estimated market capitalization of $19 billion to $25 billion by mid-2026, reflects the market’s confidence in this integrated, asset-light strategy.
Frequently Asked Questions
What is the size of the FTAI MRE 2026-1 securitization?
The issuance size is $612 million, backed by a portfolio of 48 narrowbody commercial aircraft.
When is the transaction expected to close?
The expected closing date for the transaction is June 4, 2026.
What types of aircraft back the notes?
The notes are backed by Airbus A320ceo and Boeing 737NG models, which are currently on lease to 23 different airlines globally.
Sources: FTAI Aviation Press Release
Photo Credit: FTAI Aviation
Aircraft Orders & Deliveries
Cessna SkyCourier Enters Service in the Philippines
Textron Aviation delivered the first Cessna SkyCourier to the Philippines on June 5, 2026, for operator LEASCOR.

Textron Aviation Inc. delivered the first Cessna SkyCourier to the Philippines on June 5, 2026, handing over a 19-passenger variant equipped with a passenger-to-freighter conversion kit to Leading Edge Air Services Corporation (LEASCOR). The delivery marks the entry into service for the twin-engine turboprop in the archipelagic nation, expanding passenger and cargo connectivity across remote island communities.
According to a press release issued by Textron Aviation, the aircraft will support domestic transport, tourism, and logistics operations, particularly in areas reliant on short or unpaved runways. LEASCOR operates as a wholly owned subsidiary of ACDI Multipurpose Cooperative.
Operational Versatility for Island Networks
LEASCOR, established in 2016 as the air chartering arm of ACDI Multipurpose Cooperative, will utilize the aircraft’s conversion capabilities to alternate between full passenger and full cargo aircraft missions. The delivered variant can accommodate up to 19 passengers or be reconfigured to carry freight.
When operating in a Combi layout, the aircraft can transport nine passengers alongside cargo. In its dedicated freighter configuration, the SkyCourier offers a maximum payload capacity of 6,000 pounds and is capable of handling three LD3 shipping containers.
Maj. Gen. Gilbert S. Llanto, representing LEASCOR and ACDI, stated that the aircraft strengthens the operator’s ability to provide reliable air connectivity to communities dependent on consistent service.
“What makes the SkyCourier invaluable is its purpose-built versatility, supported by twin-engine reliability, high payload capacity and the ability to operate on short and unpaved runways,” Llanto said. “With the SkyCourier, we are strengthening our capability to open underserved routes, enhance logistics and support regional economies.”
Aircraft Specifications and Regional Expansion
The Cessna SkyCourier is powered by two Pratt & Whitney Canada PT6A-65SC turboprop engines and features McCauley Propeller C779 110-inch aluminum four-blade propellers. The flight deck is equipped with Garmin G1000 NXi avionics. Performance specifications include a maximum cruise speed of 200 knots true airspeed (ktas) and a maximum range of 900 nautical miles.
The June 5 delivery follows the aircraft receiving type certification from the Civil Aviation Authority of the Philippines (CAAP) on August 21, 2024. Textron Aviation Vice President of SkyCourier Sales Juan Escalante noted that the platform enables operators to respond quickly to changing transportation needs while maintaining efficiency.
The Philippine delivery is part of a broader regional expansion for the aircraft type. On May 15, 2026, Textron Aviation delivered the first Cessna SkyCourier to the Republic of the Marshall Islands for use by AIR Marshall Islands. To support growing global demand, the manufacturer announced the completion of an expanded flight test hangar at its East Wichita Campus on May 29, 2026.
AirPro News analysis
The introduction of the Cessna SkyCourier into the Philippine market highlights a growing requirement for flexible, high-capacity utility turboprops in archipelagic regions. For operators like LEASCOR, the ability to rapidly switch between passenger and cargo configurations without requiring specialized ground support equipment provides a distinct economic advantage. We view the SkyCourier’s unpaved runway capability and standard LD3 container compatibility as critical factors for logistics networks operating outside major hub airports. As older utility aircraft in the region approach the end of their operational lifecycles, the SkyCourier is positioned to capture replacement demand in markets where infrastructure constraints dictate aircraft selection.
Sources: Textron Aviation
Photo Credit: Textron Aviation
Aircraft Orders & Deliveries
Boeing 777-9 Receives FAA TIA Phase 4B Clearance
The FAA granted Boeing 777-9 Type Inspection Authorization Phase 4B, enabling direct agency participation in final flight testing.

This article summarizes reporting by Aviation Week by Karen Walker.
The Boeing 777-9 has secured Type Inspection Authorization Phase 4B from the Federal Aviation Administration, clearing the way for agency personnel to directly participate in the aircraft’s final flight testing. Boeing Commercial Airplanes President and CEO Stephanie Pope announced the regulatory milestone on June 6, 2026, during the International Air Transport Association Annual General Meeting in Rio de Janeiro, Brazil.
According to Aviation Week, the approval marks a critical transition for the delayed widebody program. The Phase 4B authorization permits the Federal Aviation Administration (FAA) to evaluate the aircraft’s avionics, human factors, and stability and control systems in flight, shifting the focus from component-level validation to integrated operational assessments.
Advancing through the certification phases
The Type Inspection Authorization (TIA) process consists of five distinct phases. Pope noted that the previous Phase 4A was a smaller step, while Phase 4B represents one of the most substantial remaining hurdles before final certification.
“This authorization unlocks the largest remaining portion of our flight tests with the FAA that we can now go execute,”
Pope stated, as reported by Aviation Week. She added that the testing will now heavily focus on avionics and non-normal operations, allowing the manufacturer to validate checklists and system redundancies alongside regulators.
Timeline discrepancies and delivery targets
The manufacturer and the regulator have offered slightly different timelines for the final certification of the Boeing 777-9. During her June 6 remarks, Pope indicated that Boeing is focused on completing flight tests and achieving certification by the end of 2026.
However, FAA Administrator Bryan Bedford provided a different estimate during the CAPA Americas Airline Leader Summit in late May 2026. Bedford stated that the agency expects to certify the Boeing 737 MAX 7 and Boeing 737 MAX 10 by the end of 2026, with the 777X program following in early 2027. Initial commercial deliveries of the 777-9 are currently projected for early 2027.
AirPro News analysis
The transition to TIA Phase 4B is a definitive signal that the FAA is satisfied with Boeing’s preliminary data and is ready to commit agency resources to in-flight validation. For a program that has faced years of delays, reaching this stage indicates that the aircraft’s core systems are stable enough for direct regulatory scrutiny.
We note that the slight divergence in certification timelines between Boeing and the FAA is standard for this phase of a major aircraft program. The FAA’s projection of early 2027 aligns with the agency’s current rigorous oversight posture, prioritizing thoroughness over manufacturer targets. Even if certification slips into 2027, the early 2027 delivery target remains plausible provided no major anomalies are discovered during the Phase 4B flight tests.
Sources: Aviation Week
Photo Credit: Boeing
Aircraft Orders & Deliveries
Airbus Nears Widebody Order With Scandinavian Airlines SAS
Airbus is finalizing a deal to supply SAS with 15-20 A330neo and A350 jets for delivery in the early 2030s.

This article summarizes reporting by Reuters citing Bloomberg News.
Airbus SE is finalizing an agreement to supply Scandinavian Airlines (SAS AB) with 15 to 20 widebody aircraft, securing critical delivery slots for the carrier in the early 2030s.
According to reporting by Bloomberg News, summarized by Reuters on June 6, 2026, the prospective order includes a mix of Airbus A330neo and Airbus A350 jets. The decision to select the European manufacturer over Boeing Co. aligns with the airline’s strategy to maintain fleet commonality and control operational costs across its long-haul network.
Strategic Fleet Commonality
SAS currently operates an all-Airbus widebody fleet featuring newer A350s and older A330 aircraft. In February 2026, SAS Chief Executive Officer (CEO) Anko van der Werff confirmed the airline was evaluating proposals from both Airbus and Boeing for a large widebody acquisition.
The carrier intends to finalize the agreement in the coming weeks. This fleet renewal supports the airline’s planned growth at its primary Copenhagen Kastrup Airport (CPH) hub. The expansion follows a recent equity investment from Air France-KLM and the Scandinavian carrier’s transition to the SkyTeam alliance.
Navigating Geopolitical and Fuel Pressures
The fleet investment comes as SAS navigates severe operational headwinds. The ongoing Iran war and the effective closure of the Strait of Hormuz have driven jet fuel prices to record highs.
Reuters reported that these fuel cost spikes recently forced the airline to reduce its flight schedule. Securing next-generation, fuel-efficient aircraft like the A330neo and A350 is a critical component of mitigating long-term exposure to volatile energy markets.
AirPro News analysis
We view the SAS decision to stick with Airbus as a pragmatic move to avoid the transition costs associated with introducing a new aircraft type into the fleet. Pilot training, maintenance tooling, and spare parts inventory for a mixed Boeing and Airbus widebody operation would likely erode the economic benefits of a split order. Securing delivery slots for the early 2030s now protects the airline against ongoing supply chain constraints that continue to limit widebody availability across the industry.
Sources: Reuters
Photo Credit: Airbus
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