FTAI Aviation has reached an agreement to acquire a 50% stake in Rome-based IAG Engine Center Europe and plans to establish a new joint venture in the Italian capital aimed at increasing its CFM International CFM56 engine repair capacity.
Announced on Feb. 26, the deal will see a subsidiary of New York City-headquartered FTAI Aviation take an ownership stake in IAG Engine Center Europe, which operates a 200,000-ft.2 facility at Rome Fiumicino Airport.
Once the deal is completed, envisaged in…
