{
  "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": 45,
  "pageCount": 64,
  "prevPage": 44,
  "nextPage": 46,
  "slideType": "cite_precedent",
  "function": "cite_precedent",
  "density": "balanced",
  "nDataPoints": 0,
  "notes": "The slide uses a primary document (Aircraft Security Agreement) to substantiate a claim about asset ownership and leasing status.",
  "elementsJson": [
    "headline_text",
    "paragraph",
    "screenshot"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b97-afb07f54b28c/45",
  "deckHref": "/decks/019dd923-622c-750b-8b97-afb07f54b28c",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b97-afb07f54b28c.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b97-afb07f54b28c#slide-45",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "In 2024, the two aircraft sold with two CFM56-5B engines each were still on-lease to Global Crossing.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-25b4-767c-9bef-a526e8d0a2ed",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.6,
        "w": 0.5,
        "x": 0.45,
        "y": 0.025
      },
      "kind": "image",
      "text": "AIRCRAFT SECURITY AGREEMENT dated as of June 26, 2024 between SETNA AERO LEASE 1, LLC ... AND VALLEY NATIONAL BANK, as Security Trustee ... IN RESPECT OF TWO AIRBUS A320-214 AIRCRAFT WITH TWO CFM56-5B4/P MODEL ENGINES EACH",
      "attrs": null,
      "subkind": "screenshot",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "87d8cf15-2f86-4f8b-a06f-93289f24ea2b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.35,
        "x": 0.06,
        "y": 0.25
      },
      "kind": "paragraph",
      "text": "Here is evidence of the agreement between Setna and Valley National Bank. In 2024, the two aircraft sold with two CFM56-5B engines each were still on-lease to Global Crossing.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "58175b53-2753-42dd-8e05-56221e48e3f1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "AIRCRAFT SECURITY AGREEMENT dated as of June 26, 2024 between SETNA AERO LEASE 1, LLC ... and VALLEY NATIONAL BANK, as Security Trustee as Mortgagee IN RESPECT OF TWO AIRBUS A320-214 AIRCRAFT WITH TWO CFM56-5B4/P MODEL ENGINES EACH EACH ON LEASE TO GLOBAL CROSSING AIRLINES, INC.",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-25b4-767c-9bef-ab24bb380dab",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.6,
        "x": 0.02,
        "y": 0.04
      },
      "kind": "title",
      "text": "Setna Takes Title in June 2024 to Two In-Service Aircraft",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b23177f3-9602-4677-b5bd-f477581d4137",
      "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
}