FTAI Aviation, a wholly-owned subsidiary of Fortress Transportation and Infrastructure Investors, closed the first nine of 19 aircraft under a sale and leaseback transaction with Aerovías del Continente Americano S.A. Avianca (Avianca). The remaining aircraft are expected to close, subject to customary closing requirements, by the end of February.

“We are excited to partner with Avianca once again,” Joe Adams, chairman and CEO of FTAI Aviation, said. “Our differentiated approach to aircraft leasing provides Avianca with a lower total cost of ownership.”

“FTAI has become one of our most trusted partners,” Francisco Raddatz, vice president of fleet at Avianca, said. “FTAI’s unique and flexible strategy is essential to our new business model.”