FTAI Aviation ‘clear winner’ of 2023 Paris Air Show, says Benchmark

Benchmark analyst Josh Sullivan argues that FTAI Aviation (FTAI) “walks away as the clear overall winner of the 2023 Paris Air Show, also factoring in the subsequent Spirit AeroSystems (SPR) strike. The fact that Boeing (BA) and Airbus’ (EADSY) new aircraft capacity is “hamstrung by deficient supply chains” benefits FTAI’s leasing portfolio and rates, argues the analyst, who also contends that RTX (RTX) and General Electric’s (GE) “on-wing” time issues for next-gen engines addressed at the show benefit FTAI’s engine leasing and engine module swaps. Benchmark, which says it “can’t think of a company that came away from the 2023 Paris Air Show with more positive takeaways than FTAI,” keeps a Buy rating and $45 price target on the shares.