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  "documentTitle": "FTAI Aviation, Ltd. (FTAI)",
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  "authorName": "Muddy Waters Research",
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  "notes": "The slide uses a narrative structure to detail a specific accounting manipulation allegation.",
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      "text": "Setna iO purchased two A320s on lease with GlobalX from FTAI Aviation.",
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      "text": "FTAI Appears to Have Stuffed the Channel to Inflate YE 2023 Numbers",
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      "text": "In the final days of December 2023, FTAI sold two on-lease in-service aircraft... Title seems to have been conveyed to the intermediary, Aerolease... Aerolease reportedly also did not novate the leases... FTAI received a promissory note...",
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      "text": "Setna iO purchased two A320s on lease with GlobalX from FTAI Aviation. — July 7th, 2024. Per Cirium (in its public communications)",
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      "text": "1 Consultant A. Aerolease corporate website here. 2 FTAI 2023 10-K pg 63. 3 Link to Cirium communications.",
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