FTAI Aviation Ltd.

Good day and thank you for standing by. Welcome to the second quarter 2026 FTIE Aviation Earnings Conference call. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask the question during the session, you will need to press star 1-1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1-1 again. Please be advised that today's conference will be recorded. I would like to hand the conference over to your first speaker today, Alan Andreini, Investor Relations. Please go ahead.

Thank you, Marvin. I would like to welcome you all to the FTIE Aviation Second Quarter 2026 Earnings Call. Joining me here today are Joe Adams, our Chief Executive Officer, David Moreno, our President, Nicholas McAleese, our Chief Financial Officer, and Stacy Kuperus, our Chief Operating Officer. We have posted an investor presentation and our press release on our website, which we encourage you to download if you have not already done so. Also, please note that this call is open to the public in listen-only mode and is being webcast. In addition, we will be discussing some non-GAAP financial measures during the call today, including EBITDA. The reconciliation of those measures to the most directly comparable GAAP measures can be found in the earnings supplement. Before I turn the call over to Joe, I'd like to point out that certain statements made today will be forward-looking statements, including regarding future earnings. These statements, by their nature, are uncertain and may differ materially from actual results. We encourage you to review the disclaimers in our press release and investor presentation regarding non-GAAP financial measures and forward-looking statements, and to review the risk factors contained in our quarterly report filed with the SEC. Now I would like to turn the call over to Joe.

Thank you, Alan. FTIE today operates in three principal businesses, aerospace products, asset management, and power, which are each driven by our expertise in aftermarket turbine performance. Each of these three achieved amazing results in Q2, including aerospace products increasing production over 60% year-over-year, and adding new capacity, bringing our total physical CFM 56 module production capacity to 3,000 modules per year, which is enough to achieve our 25% market share objective and produce 100 mod ones per atom. SCI finished investing the 2025 SPV, made a regular and special distribution to investors and launched the 2026 SPV with a target raise of $6 billion, which will take us in just two short years to over halfway to our target for asset management of $20 billion of AUM. Power signed an anchor customer for our proprietary Mod 1, with many more expected to follow, which, if it is as successful as we believe it will be, will extend the economic useful life of the CFM56 by decades. Well done to everybody and a big thanks to the dedication and enthusiasm of our 1,500 plus employees. The second quarter was a continuation of many of the themes we discussed on our first quarter call, so this morning we'd like to build off those key objectives we laid out and update you on the progress of each. Starting with aerospace products, first let's discuss market share. Last quarter we said accelerating market share Growth was our top priority for 2026 and that's exactly what's playing out. Our market share grew from 12% to 14% this quarter as gains from our production capabilities, parts procurement strategies, and overall maintain, repair, and exchange MRE customer adoption continued. We're confident this trend will continue as the market develops and our differentiated approach to engine maintenance delivers time and cost savings to our customers. Second, as the market for CFM56 and V2500 engines matures further, demand for engine solutions from top-tier airlines, even those with in-house engine MRO capabilities, remains very strong. We offer flexibility, customized pricing, and scale that no one else can match. And these large programs are very sticky. We made more progress again this quarter. As some of our peers have noted, the CFM56 market is supply constrained, not demand constrained. Today, our module production is increasingly directed toward our third-party customers rather than to our own aviation leasing pool. This is a deliberate shift in allocation, and it reflects the strength of third-party demand, the superior economics of putting our module output to work in customer-facing channels, and our ongoing focus on an asset-light balance sheet. In the second half of the year, we'll continue to prioritize market share and long-term customer relationships over our on-balance sheet assets. Third, production and footprint. We've always talked about expanding production capacity well ahead of growth, and more recently about adding maintenance capabilities east of Rome, Italy. This quarter, we advanced two exciting developments, one in Egypt and one in Indonesia, that bring us closer to our customers, add module production and diversify our footprint. David will talk more in a few minutes on those. Now on strategic capital, the 2025 SPV is now fully committed from an investment perspective and execution is on plan with the vehicle completing its first targeted quarterly cash distribution on June 30th. SCI's inaugural Asset-backed security or ABS issuance during the quarter also enabled a special distribution to investors in July. And we've launched the 2026 SPV and the vehicle is actively making commitments to acquire aircraft today. Our business plan for SCI has always been to make the vehicle launches programmatic and we are excited to have graduated to the second SPV. We've demonstrated that combining our investment capabilities with our engine maintenance solution creates a differentiated outcomes for our partners. This has resonated and resulted in strong support across our investor base. Finally, FTI Power, the business continues to make great progress towards its commercial launch in the fourth quarter. As we announced last week, JNF Power Systems, our joint venture with Jera Group, signed a master supply agreement with a leading US hyperscaler and an initial purchase order valued at $1.465 billion for 2027 Mod 1 deliveries. We're very proud of our combined teams for their hard work in establishing this great long-term relationship. I'll now hand it over to David to share more details.