{
  "docId": "019dd923-622c-750b-8b97-afb07f54b28c",
  "docSlug": "ae6eb7229943",
  "documentTitle": "FTAI Aviation, Ltd. (FTAI)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Muddy Waters Research",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2025-01-15 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.7777778,
  "pageNumber": 44,
  "pageCount": 64,
  "prevPage": 43,
  "nextPage": 45,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "balanced",
  "nDataPoints": 0,
  "notes": "The slide uses a primary source document excerpt to support the argument.",
  "elementsJson": [
    "headline_text",
    "paragraph",
    "screenshot",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b97-afb07f54b28c/44",
  "deckHref": "/decks/019dd923-622c-750b-8b97-afb07f54b28c",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b97-afb07f54b28c.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b97-afb07f54b28c#slide-44",
  "components": [
    {
      "bbox": {
        "h": 0.65,
        "w": 0.48,
        "x": 0.48,
        "y": 0.22
      },
      "kind": "image",
      "text": "FAA AIRCRAFT MORTGAGE AND LEASE SECURITY ASSIGNMENT excerpt",
      "attrs": null,
      "subkind": "screenshot",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "381d23df-fe8d-407f-a691-693288bcdee0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.38,
        "x": 0.05,
        "y": 0.22
      },
      "kind": "paragraph",
      "text": "The excerpt at right is per Financing Agreement filed with FAA, Document ID ARE015236786. A 2021 PR notes Global Crossing leased two A320s aircraft from FTAI in November 2021. The Global Crossing – FTAI lease as filed with the SEC also notes that UMB Bank was the lessor.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "126a02af-b37a-4b32-a912-f92ee03a6adc",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "\"Aircraft Lease Agreement dated as of November 5, 2021 between UMB Bank, National Association, as owner trustee, as lessor, and Global Crossing Airlines, Inc., as lessee\" — FAA Aircraft Mortgage and Lease Security Assignment",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-25b4-767c-9bef-60972ccf5c61",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.5,
        "x": 0.03,
        "y": 0.88
      },
      "kind": "source-note",
      "text": "1 Global Crossing Airlines 2021 PR available here. 2 FTAI – Global Crossing lease available here.",
      "attrs": {
        "numbered": true
      },
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "11abce35-4e74-41f3-a4cb-5951f79ec22b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.75,
        "x": 0.03,
        "y": 0.05
      },
      "kind": "title",
      "text": "The 2023 FAA Documents Also Provide Evidence of the Lease to Global Crossing Airlines",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c1d910e3-a49c-4954-a8df-5cdfd3e7ce7f",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 64,
      "from": 41,
      "beatId": "a9cb613d-f388-47fc-b02a-1d4f2321ab2e",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The Conclusion",
      "beatSlug": "overcoming-monster-the-victory",
      "evidence": "The deck concludes with a summary of findings and implications",
      "position": 3,
      "confidence": 0.8,
      "parentBeatName": "Turn",
      "parentBeatSlug": "turn"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}