---

Exhibit 99.1

PRESS RELEASE

FTAI Aviation Ltd. Reports Second Quarter 2023 Results, Declares Dividend of $0.30 per Ordinary Share

---

NEW YORK, July 26, 2023 (GLOBE NEWSWIRE) – FTAI Aviation Ltd. (NASDAQ: FTAI) (the “Company” or “FTAI”) today reported financial results for the second quarter 2023. The Company’s consolidated comparative financial statements and key performance measures are attached as an exhibit to this press release.

Financial Overview

Second Quarter 2023 Dividends

On July 25, 2023, the Company’s Board of Directors (the “Board”) declared a cash dividend on our ordinary shares of $0.30 per share for the quarter ended June 30, 2023, payable on August 29, 2023 to the holders of record on August 14, 2023.

Additionally, on July 25, 2023, the Board declared cash dividends on its Fixed-to-Floating Rate Series A Cumulative Perpetual Redeemable Preferred Shares (“Series A Preferred Shares”), Fixed-to-Floating Rate Series B Cumulative Perpetual Redeemable Preferred Shares (“Series B Preferred Shares”), Fixed-Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares (“Series C Preferred Shares”) and Fixed-Rate Reset Series D Cumulative Perpetual Redeemable Preferred Shares (“Series D Preferred Shares”) of $0.51563, $0.50000, $0.51563 and $0.59375 per share, respectively, for the quarter ended June 30, 2023, payable on September 15, 2023 to the holders of record on September 1, 2023.

Business Highlights

Additional Information

For additional information that management believes to be useful for investors, please refer to the presentation posted on the Investor Center section of the Company’s website, https://www.ftaiaviation.com, and the Company’s Quarterly Report on Form 10-Q, when available on the Company’s website. Nothing on the Company’s website is included or incorporated by reference herein.

Conference Call

About FTAI Aviation Ltd.

FTAI owns and maintains commercial jet engines with a focus on CFM56 engines. FTAI’s propriety portfolio of products, including The Module Factory and a joint venture to manufacture engine PMA, enables it to provide cost savings and flexibility to our airline, lessor, and maintenance, repair, and operations customer base. Additionally, FTAI owns and leases jet aircraft which often facilitates the acquisition of engines at attractive prices. FTAI invests in aviation assets and aerospace products that generate strong and stable cash flows with the potential for earnings growth and asset appreciation.

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  These statements are based on management's current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, many of which are beyond the Company’s control. The Company can give no assurance that its expectations will be attained and such differences may be material. Accordingly, you should not place undue reliance on any forward-looking statements contained in this press release. For a discussion of some of the risks and important factors that could affect such forward-looking statements, see the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are available on the Company’s website (www.ftaiaviation.com). In addition, new risks and uncertainties emerge from time to time, and it is not possible for the Company to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Such forward-looking statements speak only as of the date of this press release. The Company expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or change in events, conditions or circumstances on which any statement is based. This release shall not constitute an offer to sell or the solicitation of an offer to buy any securities.

For further information, please contact:

Alan Andreini

Investor Relations

FTAI Aviation Ltd.

(646) 734-9414

aandreini@fortress.com

FTAI AVIATION LTD.

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(Dollar amounts in thousands, except share and per share data)

FTAI AVIATION LTD.

CONSOLIDATED BALANCE SHEETS (Unaudited)

(Dollar amounts in thousands, except share and per share data)

FTAI AVIATION LTD.

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

(Dollar amounts in thousands, unless otherwise noted)

		Six Months Ended June 30,
		2023				2022
Cash flows from operating activities:
Net income (loss)		$	84,150			$	(219,899	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Equity in losses of unconsolidated entities			1,715				37,836
Gain on sale of assets, net			(75,960	)			(79,933	)
Security deposits and maintenance claims included in earnings			(12,215	)			(30,208	)
Equity-based compensation			618				2,294
Depreciation and amortization			79,440				114,923
Asset impairment			1,220				123,676
Change in deferred income taxes			3,127				6,200
Change in fair value of non-hedge derivative			—				(748	)
Change in fair value of guarantees			(1,902	)			—
Amortization of lease intangibles and incentives			18,264				23,818
Amortization of deferred financing costs			4,190				13,328
Provision for credit losses			1,032				47,218
Other			(658	)			(407	)
Change in:
Accounts receivable			(21,918	)			(47,061	)
Inventory			11				(12,373	)
Other assets			(2,583	)			(25,319	)
Accounts payable and accrued liabilities			(15,350	)			5,045
Management fees payable to affiliate			1,892				(1,829	)
Other liabilities			2,168				(5,130	)
Net cash provided by (used in) operating activities			67,241				(48,569	)
Cash flows from investing activities:
Investment in unconsolidated entities			(19,500	)			(2,232	)
Principal collections on notes receivable			1,624				—
Principal collections on finance leases			1,939				575
Acquisition of business, net of cash acquired			—				(3,819	)
Acquisition of leasing equipment			(325,462	)			(320,766	)
Acquisition of property, plant and equipment			(2,298	)			(118,729	)
Acquisition of lease intangibles			(10,795	)			(5,282	)
Investment in promissory notes			(11,500	)			—
Purchase deposits for acquisitions			(11,200	)			(7,100	)
Proceeds from sale of leasing equipment			273,229				138,020
Proceeds from sale of property, plant and equipment			—				4,304
Proceeds for deposit on sale of aircraft and engine			1,817				8,245
Receipt of deposits for sale of aircraft and engine			300				—
Net cash used in investing activities		$	(101,846	)		$	(306,784	)
Cash flows from financing activities:
Proceeds from debt		$	325,000			$	503,980
Repayment of debt			(330,000	)			(224,724	)
Payment of deferred financing costs			(1,437	)			(14,405	)
Receipt of security deposits			5,577				1,890
Return of security deposits			(1,295	)			—
Receipt of maintenance deposits			18,070				24,418
Release of maintenance deposits			—				(878	)
Capital contributions from non-controlling interests			10				1,187
Proceeds from issuance of preferred shares, net of underwriter's discount and issuance costs			61,729				—
Cash dividends - common shares			(59,854	)			(65,789	)
Cash dividends - preferred shares			(15,126	)			(13,582	)
Net cash provided by financing activities		$	2,674			$	212,097
Net decrease in cash and cash equivalents and restricted cash			(31,931	)			(143,256	)
Cash and cash equivalents and restricted cash, beginning of period			53,065				440,061
Cash and cash equivalents and restricted cash, end of period		$	21,134			$	296,805

Key Performance Measures

The Chief Operating Decision Maker (“CODM”) utilizes Adjusted EBITDA as our key performance measure.

Adjusted EBITDA provides the CODM with the information necessary to assess operational performance, as well as make resource and allocation decisions. Adjusted EBITDA is defined as net income (loss) attributable to shareholders from continuing operations, adjusted (a) to exclude the impact of provision for income taxes, equity-based compensation expense, acquisition and transaction expenses, losses on the modification or extinguishment of debt and capital lease obligations, changes in fair value of non-hedge derivative instruments, asset impairment charges, incentive allocations, depreciation and amortization expense, dividends on preferred shares, and interest expense, (b) to include the impact of our pro-rata share of Adjusted EBITDA from unconsolidated entities, and (c) to exclude the impact of equity in earnings (losses) of unconsolidated entities and the non-controlling share of Adjusted EBITDA.

The following table sets forth a reconciliation of net income (loss) attributable to shareholders to Adjusted EBITDA for the three and six months ended June 30, 2023 and 2022:

___________________________________________________

(1)

Includes the following items for the three months ended June 30, 2023 and 2022: (i) depreciation and amortization expense of $38,514 and $39,303, (ii) lease intangible amortization of $3,616 and $3,310 and (iii) amortization for lease incentives of $6,804 and $8,495, respectively. Includes the following items for the six months ended June 30, 2023 and 2022: (i) depreciation and amortization expense of $79,440 and $80,608, (ii) lease intangible amortization of $7,599 and $6,968 and (iii) amortization for lease incentives of $10,665 and $16,849, respectively.

(2)

Includes the following items for the three months ended June 30, 2023 and 2022: (i) net (loss) income of $(380) and $35, (ii) depreciation and amortization expense of $435 and $117 and (iii) acquisition and transaction expense of $95 and $0, respectively. Includes the following items for the six months ended June 30, 2023 and 2022: (i) net (loss) income of $(1,715) and $233, (ii) depreciation and amortization expense of $835 and $173 and (iii) acquisition and transaction expense of $334 and $0, respectively.

6

---