Alan. Thanks,
to details, to I Before going into the groups. take thank a want moment two
First, have weeks. the for put to smoothly I they the want last six thank tremendous into functioning effort our employees over keeping FTAI
we made to much been primary our responded was remarkable. short has jobs concern and protect as your safety nothing you, procedures difficult. Your you challenge implemented The we more this have way of to
beat haven't of because a you. missed We and that's
than us way cases who helpful being extremely been many and a our taken just our XX out inspirational. you worked Directors more to myself, bring talented you it next behalf on have as years. in together qualities the I of and the level That It it's of lot shareholders. said, for and certain for shown is best can and the times toughest Board And to workforce want say you've seems all the of those if thank that
want and world all essential are The troubled hours healthcare putting make to working our safer group families, acknowledge risk incredible professionals, place. I and the great other a to themselves employees their are at who and first responders
courage never or you. been Your have dedication apparent. and Thank appreciated more more
Now mundane let's our the turn a I'm public XXth more and as pleased QX. and announce $X.XX to XXth start, inception. since To consecutive dividend to dividend dividend of company The our distribution. and for XX, May on share adjusted are will date EBITDA on May us record shareholder per be FAD a key The funds based or available paid metrics of XX. for
Adjusted $XX.X EBITDA of $XXX from gain XXXX XX.X% in Jefferson. gain figure $X.X of sale Long interest the and the the of interest of were the XXXX Ridge ethanol at million QX QX of XX% includes in noncore of and to a a XXXX $XX compared $XXX.X of million from XXXX acquisition of and the aviation venture remaining of joint our from assets that Note the million million. sale for gain $XX.X million QX million a QX
XXXX. and EBITDA QX On QX in excluding $XX.X million basis, FAD XXXX in a million QX XXXX sales, to $XX XXXX. compared or million these gains was million $XX.X and versus million QX adjusted was normalized million the XXXX in QX from in $XXX.X in losses $XX.X QX $XX.X XXXX
from XXXX. assets XXXX proceeds $XX.X other. QX assets, XXXX nonrecurring million $XX.X while includes million CMQR The FAD sale FAD number FAD proceeds sale $XXX.X in number the aviation for million was aviation million QX QX QX Ridge During XXXX $X.X leasing of sale compared of Long items, million first basis a corporate excluding from a $XX.X of the million and million QX negative assets. in interest $XX.X quarter portfolio, proceeds businesses our infrastructure normalized XXXX $XX.X in comprised of million FAD $XX of rail $XXX and in from of aviation the and million sale On includes FAD XXXX proceeds from and to assets. the million from XX% a the includes of $XX.X QX aviation
turn let's aviation. Now to
details Before overall Aviation, I market. go talk into aviation the let on me first FTAI about the
markets globally service. downturn Approximately disruption, and flights than result of any but long-lasting capacity As industry growing be high COVID-XX as cargo we chain XX,XXX daily are and very longer cuts. travel will dramatic demand in and prior unprecedented and will while people development. aircraft today as down disruptions of over again sit supply are passenger are a already some a is significant and and air Obviously result this by passenger an XX% parked deeper passenger air-traffic out of
markets a normalized to medium levels. to people passenger flying trip On while far the in take first domestic to XX likely resort most is our relatives visit likely back domestic more Austin to get markets When a home next in the international recover to long-haul X XX calls and months side, than from two-week to trip to certain, to scenario begin XX months a more again, the for flight Thailand. over
owners and equipment and all aircraft time Also by costs visits airlines cash extreme minimize cash. efforts, result and this maintenance period, part off their to ramp shop having generate recovery first as undertaking during of engines a will reduce unserviceable engines engine up green of conservation available burning and excess
virtually should engine we expect As every result, in a for leasing airline world. the increase to we
backdrop, of a XX% is cargo approximately as portfolio that with value, see By On and aircraft engine FTAI's XX% at engines engines, So XXX and and XX% aircraft we which positive. and and aircraft AXXX over and XX% XXX's narrowbody type aviation major portfolio composition. is basis, is XXX engines. aircraft is look let's an our overall
see large now expect to to recover. of this of talk let's segments. shortage in engines engine in and of of advantage likely models. increase to early these half number and costs very a engines year, will each shop over XXXX. VXXXX first and XXXs and the leasing we Also With workhorses and in visits prices available And domestic AXXXs CFMXX latter market and occur the the newer are of maintenance a a about low now also NGs fuel engine of airlines XXXX be fully material COs not potential
Cargo the historical and today aircraft are best-performing [ph] aviation rates of running high by very fleets segment high receive measurements.
accelerated. next for next over two minimum. likely expect many We low XXX a be also stay to the strong at will cargo be as four years to months to XX by XX the for aided and markets The retirement challenging fuel scheduled aircrafts XX will
engine which many strongly be the by passenger converted value, will these aircraft parked to However, be cargo and supported passenger market XX% is from of our freighter. of fleet will
any other. be our with extreme outsource our not terms. we leading lease to an drive engine proprietary all maintenance leasing for business practices favorable implementing in Overall, all relationships to airlines this products. price and engine portfolio aviation new crisis demand to trade flexible would with engine plan implement leasing, terms MRO us largest by world, and environment with negotiate new This cash see and services shop and airlines Also we facilitate additional for in low the a the enable will the accelerating conservation our world, company fuel value world's providing including
turn Let's now. the to numbers
of first $XXX XXXX of was million QX $XXX excluding million in and compared the QX million to For XXXX, quarter sales in annualized $XXX adjusted XXXX. asset EBITDA
on QX adjusted annualized compensation mentioned approximately lease As included $XX EBITDA XXXX income QX the return call, annualized of from million. XXXX
result as the In a due of year addition, revenue was to March normal grounding several in maintenance than of aircraft of this COVID-XX.
XX%. assets During yield of to QX million new on $XX.X and in of equity EBITDA and generate with noncore on proceeds. in XX% and million COVID-XX were able we we invested aviation impacting March, return investments aviation to closed sales which targets long-term harvest versus in XX% our our Even respectively generate XX% equity business $XX.X continue and
situation airlines assistance. capital. are have need the financial being will beginning a are by as negatively Many basis airlines avoided result order these coronavirus with opportunity historically and who we leasing investment a to raise now on affected sale-leaseback is aircraft to see One will
is Air are that example France announcement and perfect Our recent almost will a regarding fleet certainly happen. others there
the the products power proprietary leading Finally, great recently. strides goal market for developing by provider made engine of our practices, becoming CFMXX strategic and of aftermarket
materials venture for FAA joint of we which has hope product final first to the soon. to our approval Our submitted production very application in have
infrastructure. as predicted XXXX. Jefferson Jefferson, QX Jefferson during contributed we and Now call, in on EBITDA the XXXX to QX positively
Jefferson QX XXXX. generated to $X.X in million QX negative compared EBITDA QX in During and $X.X XXXX $XXX,XXX million of negative adjusted
storage by our QX refined positive volumes barrels reduction a volumes This million with coupled our quarter from by million million and contribution XXXX. driven increased XXXX. overall from by utilization the X.X businesses, at online our products XX.X were throughput core primarily a businesses that at the volumes offset Jefferson in of crude core from barrels, throughput up marketing volumes end was QX driven XX.X to crude went ethanol primarily an and of was increase The EBITDA businesses full in in discontinued The increased QX. barrels which in in
our of a seeing but materially instances Extended volumes volumes. we especially customers Canada, disruption lower COVID-XX rather result the are from Saudi-Russia where crude than shifting reducing prices and demand have some as our dispute are modes impacted
example. or us Our as via in Canada than taking largest importing to they informed ship rather recently crude rail Utah by from intend an intake customer volumes by
maximum a receive goal to pipelines months been rail, year to have long-term Our our always as provide or optionality online operational. fully products this our water, these we customers will pipe all via with modes truck, has and within or ship come
positioned [indiscernible] QX an By and expansion In a long-term existing exempt million and of debt tax long-term company of approximately additional to expense reduction future $XX the fund Jefferson refinanced to this, projects. debt debt. million new of we significant achieved interest this attractive all recourse doing of year access $XXX raised
compared debt rate X-year and on new XX-year new X% X and X retired bonds tax-exempt days both And as at of and X%. were debt priced to was Average X.X% bonds interest taxable X.X%. the substantially respectively, XX-year oversubscribed of and included rate priced the [ph] which debt average at
recourse to has approximately our reduced this debt XX%. capital all nonrecourse Importantly, total is which to to debt FTAI
market. dispute view problem, positive has our do destruction positive has we customers. ramp and created issues expect some be COVID-XX Saudi-Russia these notwithstanding at that, demand crude we current the manageable XXXX as and the but The so said more the importantly Having to EBITDA another in created issues and or Jefferson COVID-XX begun
customer build to We continue and out Jefferson problems. continue to solve
we our and projects the them customers been greater. been have with better array with relationships Our of are working on never never has
construction turn At Dock operations to and of Let's completing we which Phase liquids Repauno gas rail-to-ship our NGL X X offering. now construction export of natural completed our Repauno. are is
to due NGL the COVID-XX are both, but domestic at on takers off with refinery European demand working cutbacks and producers deals production are distribution down the slowing We process. and commercial
Hopefully putting markets advantage hoping we and other normalcy next combination return that quarter be of or we to XXXX. we in necessary markets and rail so to construction the and will start Phase two has in in in storage given of these storage the dislocated Once the to which process take deepwater liquids barrel negotiations, the place will to conclude the are commence granite X that unique the connectivity. underground of expect truck, of our East X operational commitments, Coast can meantime, in program million caverns permitting we contracts
leveraging opportunities. additional scale pursue business are capabilities and Repauno's we to multimodal Finally,
to we power handle transloading For and components the driving transloading example, wind power the large offshore and positioned wind growth become demand is a hub. for can is Repauno these believe movements development uniquely in
it to a business now transloaded. Ridge, frac in record of XXXX quarter for sand in was our volume total Turning QX Long terms
approximately sand a of Long run basis XXXX tons frac transloaded annually. XXX,XXX on or X.X QX tons During million rate Ridge
Ridge While our loading activity Long gained makes overall due Ridge in the which strategic decreased, the location provider our drilling region. share capability rapid the Long has low-cost to has and in basin market truck
data would high The developments on November construction of at budget to later from and other we looking premium time not industries facilities see short, The XXX% plants moving these capacity nicely. and be is power XXXX. and Long centers interest new Ridge. plant prices. Long level expect and than intensive a between operational along power power Furthermore, to on largest of XX% continue require In Long Ridge Ridge is cite to of we
expansions. cash from we positive flow Now now to in the has create expect ramp gotten four a has increasing year years consistently we year to conclusion, by work, the economic hard happened ago, to program what flow that infrastructure over cash being strong of expansion, it The prudent to and long-term after at EBITDA is financial we flexibility maximum Being began XXth for joined an FTAI. felt Starting a continue. aviation prepare in of infrastructure. of
for markets from down debt the of from table. to to our advantage taking cap by size and total about more to $XXX private infrastructure doubled obviously assets we We off in of took today we aggressive good million the XX% recourse that million profits revolver took ever recognized close capital those were we decisions. of to a feel taking XX%. We $XXX and that $XXX Sitting and million lot than here
industry a environment, difficult in now. Is in we this but any than environment came and if space. as infrastructure are the stressful especially but well Capital flexibility or Absolutely, not and prepared aviation into prepared any environment? leasing this firm financial better key important
conservatively do FTAI we if the as will gets always and marketplace remain industry We've and to will we be have so, and we that but so do we vigilant already worse. that started advantage run as we will setting prepared this continue to exploit in
lot a ourselves ago. have which started deleveraging levers pull, is position of and almost to exactly can the when processes in wanted We we we we a year infrastructure the sale put
we environment and well so. into this So we came remain prepared
call turn that, over Alan. the to back With me let
