FTAI Aviation Ltd. (NASDAQ:FTAI) shares are down on Wednesday. The company expanded its engine maintenance partnership with PT Garuda Maintenance Facility Aero Asia Tbk, or GMF, securing guaranteed maintenance capacity for five years across Asia-Pacific.

The agreement initially covers CFM56-5B and CFM56-7B engines and GTCP131-9 series APUs.

• FTAI Aviation stock is trading at depressed levels. Where is FTAI stock headed?

Locks In Five-Year GMF Capacity

FTAI said Asia-Pacific represents a large and growing share of its customer base.

The companies plan to expand into module and component repairs, helping extend CFM56 engine life, and eventually support CFM LEAP engines.

FTAI will provide technical expertise and training, while the partnership aims to improve access to materials, spare parts and components.

FTAI President David Moreno said, “Bringing committed engine volumes to GMF puts maintenance capacity closer to those customers with faster turnaround times.”

GMF is Indonesia’s largest MRO provider and has served more than 190 customers across over 70 countries.

Read Also: FTAI Announced a $500 Million Buyback This Month — Here's What Else Happened

FTAI Technical Outlook

At $189, FTAI trades 1.5% below its 20-day SMA and 7.9% below its 50-day SMA, keeping the intermediate trend under pressure.

Shares also remain 17.4% below the 100-day SMA and 20.3% below the 200-day SMA.

The RSI stands at 46.50, signaling neutral momentum. Resistance sits near $194.50, while support is around $179.

Wall Street Maintains Bullish FTAI Ratings

FTAI carries a Buy consensus rating with an average price target of $339.

Barclays maintained an Overweight rating and lowered its target to $310 on Sept. 16. Morgan Stanley maintained an Overweight rating and raised its target to $360 on Aug. 21, while BTIG maintained a Buy rating and lowered its target to $350 on Aug. 4.

FTAI ETF Exposure and Passive Fund Flow Risk

  • Morgan Stanley Pathway Small-Mid Cap Equity ETF (NYSE:MSSM): 0.94% Weight
  • Sofi Next 500 ETF (NYSE:SFYX): 2.11% Weight
  • Virtus Silvant Small/Mid Growth ETF (NYSE:SSMG): 2.19% Weight

Significance: Because FTAI carries significant weight in these funds, any major inflows or outflows for these ETFs will likely trigger automatic buying or selling of the stock.

FTAI Stock Price Activity: FTAI Aviation shares traded lower by 0.36% at $189.06 at the time of publication on Wednesday, according to Benzinga Pro data.

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