FTAI Aviation (FTAI) has issued an update.
FTAI Aviation Ltd. has finalized agreements to shift from external management by FIG LLC to internal management, a process known as Internalization, effective May 28, 2024. This strategic move entails terminating existing management agreements, compensating the Manager with $150 million plus interest and shares in the company, and buying out certain subsidiary interests. Key executives will remain, with structured compensation and severance packages, while financing for these changes is planned through debt and available cash. The transition aims to streamline operations and enhance control, although it carries risks including the potential for unforeseen costs and impacts on employee retention.
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