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                              September 21, 2023

       Eun (Angela) Nam
       Chief Financial Officer and Chief Accounting Officer
       FTAI Aviation Ltd.
       1345 Avenue of the Americas, 45th Floor
       New York, NY 10105

                                                        Re: FTAI Aviation Ltd.
                                                            Form 10-K for
Fiscal Year Ended December 31, 2022
                                                            File No. 001-37386

       Dear Eun (Angela) Nam:

              We have limited our review of your filing to the financial
statements and related
       disclosures and have the following comments. In some of our comments, we
may ask you to
       provide us with information so we may better understand your disclosure.

              Please respond to these comments within ten business days by
providing the requested
       information or advise us as soon as possible when you will respond. If
you do not believe our
       comments apply to your facts and circumstances, please tell us why in
your response.

                                                        After reviewing your
response to these comments, we may have additional comments.

       Form 10-K for Fiscal Year Ended December 31, 2022

       Management's Discussion and Analysis of Financial Condition and Results
of Operations
       Aviation Leasing Segment
       Aviation Assets, page 37

   1.                                                   You disclose 118
aviation assets out of a total of 330 are currently off lease because they
                                                        are either undergoing
repair or maintenance, being prepared to go on lease or held in
                                                        storage awaiting future
lease. Please tell us the number of aviation assets associated with
                                                        each aforementioned off
lease description. Additionally, tell us whether or not the assets
                                                        undergoing repair or
maintenance are associated with a lease, and if not, the prospects of
                                                        going on lease or being
sold. Also, tell us how long aviation assets not leased have been
                                                        off lease. Consider
disclosing the previous information so investors may have a better
                                                        understanding of how
your aviation assets are positioned and contributing to your
                                                        operations. Further,
tell us whether aviation assets are depreciated whether leased or not.
 Eun (Angela) Nam
FirstName LastNameEun   (Angela) Nam
FTAI Aviation Ltd.
Comapany 21,
September NameFTAI
              2023 Aviation Ltd.
September
Page 2    21, 2023 Page 2
FirstName LastName
Notes to Consolidated Financial Statements, page 60

2.       You disclose on page 27 that because you are a holding company and
have no direct
         operations, you will only be able to pay dividends from your available
cash on hand and
         any funds you receive from your subsidiaries and your ability to
receive distributions from
         your subsidiaries may be limited by the financing agreements to which
they are subject.
         In addition, your existing indebtedness limits your ability to pay
dividends. Please explain
         to us your consideration of Rules 4-08(e), 5-04(c) Schedule I and
12-04 of Regulation S-
         X.
       In closing, we remind you that the company and its management are
responsible for the
accuracy and adequacy of their disclosures, notwithstanding any review,
comments, action or
absence of action by the staff.

       You may contact Stephen Kim at 202-551-3291 or Doug Jones at
202-551-3309 with any
questions.



                                                              Sincerely,

                                                              Division of
Corporation Finance
                                                              Office of Trade &
Services