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CFM International CFM56 aftermarket specialist FTAI Aviation has reported no change in its customers’ desire to “fly current-gen aircraft as long as possible,” according to David Moreno, the lessor and maintenance provider’s president.
FTAI Aviation serviced 270 CFM56 modules in the first quarter of 2026, almost double the prior-year period’s volume, and the company remains bullish about demand despite Middle East tensions.
These included the first modules from FTAI’s new facility in Lisbon, Portugal, which along with its Rome site is still in ramp-up phase. Established facilities in Miami and Montreal, meanwhile, serviced more than 200 modules between them in the quarter. Since the start of the Iran conflict, fuel prices have roughly doubled, making it more expensive to operate older technology. Last week, Mexican carrier Volaris said that at current prices, an Airbus A320neo provides roughly $200,000 of monthly fuel bill savings over an A320ceo.
FTAI CEO Joseph Adams acknowledged that higher fuel prices were likely to hit airline profits, but suggested that this could spur even more demand for cheap overhaul alternatives like FTAI’s module changes.
“When an airline is facing a multimillion-dollar engine shop visit in comparison to a faster, lower-cost engine exchange with FTAI, the decision is even easier to make when liquidity is top of mind,” he said.
Adams also said that current-gen aircraft will remain a major part of the global fleet for many years. “It’s also worth remembering that airlines cannot meaningfully change their fleets in response to short-term volatility. New aircraft orders are locked in for the next four to five years,” he said.
He added: “We don’t expect to see much, if anything, on that changing in the next few months, even if this [tensions around the Strait of Hormuz] goes on.”
Using Aviation Week data, FTAI Aviation estimates that it currently has roughly 12% of the CFM56 and IAE V2500 maintenance market, worth $25 billion a year. Its goal is to achieve a 25% share of this market.
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