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    <link:label id="lab_ftai_DebtInstrumentRedemptionPricePercentageInThreeYears_16DBE76EC98199A975BEC64A8A7086B5_terseLabel_en-US" xlink:label="lab_ftai_DebtInstrumentRedemptionPricePercentageInThreeYears_16DBE76EC98199A975BEC64A8A7086B5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Redemption price, rate, in three years</link:label>
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    <link:label id="lab_us-gaap_DebtInstrumentConvertibleConversionRatio1_AD4514A3C7E24AE7CCAEC64A8A71D5DA_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentConvertibleConversionRatio1_AD4514A3C7E24AE7CCAEC64A8A71D5DA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt to equity ratio</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentConvertibleConversionRatio1_AD4514A3C7E24AE7CCAEC64A8A71D5DA_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentConvertibleConversionRatio1_AD4514A3C7E24AE7CCAEC64A8A71D5DA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Convertible, Conversion Ratio</link:label>
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    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentConvertibleConversionRatio1_AD4514A3C7E24AE7CCAEC64A8A71D5DA" xlink:to="lab_us-gaap_DebtInstrumentConvertibleConversionRatio1_AD4514A3C7E24AE7CCAEC64A8A71D5DA" xlink:type="arc" />
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    <link:label id="lab_us-gaap_LineOfCredit_9EE3E190059F4243E0D9C64A8A719525_label_en-US" xlink:label="lab_us-gaap_LineOfCredit_9EE3E190059F4243E0D9C64A8A719525" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Line of Credit</link:label>
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    <link:label id="lab_us-gaap_LongTermDebt_EEACEC45F57C8E276AE9C64A8A717F86_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebt_EEACEC45F57C8E276AE9C64A8A717F86" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt, net</link:label>
    <link:label id="lab_us-gaap_LongTermDebt_EEACEC45F57C8E276AE9C64A8A717F86_label_en-US" xlink:label="lab_us-gaap_LongTermDebt_EEACEC45F57C8E276AE9C64A8A717F86" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt</link:label>
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    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_RailroadMember_45797C4C0996C80203CD0F6C10EB18E3" xlink:to="lab_ftai_RailroadMember_45797C4C0996C80203CD0F6C10EB18E3" xlink:type="arc" />
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_B77045AE0247F1B37D100F6C10EB725A_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_B77045AE0247F1B37D100F6C10EB725A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets by Major Class [Axis]</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_B77045AE0247F1B37D100F6C10EB725A_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_B77045AE0247F1B37D100F6C10EB725A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets by Major Class [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_B77045AE0247F1B37D100F6C10EB725A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_B77045AE0247F1B37D100F6C10EB725A" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_B77045AE0247F1B37D100F6C10EB725A" xlink:type="arc" />
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_1460E8E340E2D4515C190F6C10EB4B31_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_1460E8E340E2D4515C190F6C10EB4B31" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Major Class Name [Domain]</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_1460E8E340E2D4515C190F6C10EB4B31_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_1460E8E340E2D4515C190F6C10EB4B31" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Major Class Name [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_1460E8E340E2D4515C190F6C10EB4B31" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_1460E8E340E2D4515C190F6C10EB4B31" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_1460E8E340E2D4515C190F6C10EB4B31" xlink:type="arc" />
    <link:label id="lab_us-gaap_OffMarketFavorableLeaseMember_214E32A115DC51E4EE8B0F6C10EB38FF_terseLabel_en-US" xlink:label="lab_us-gaap_OffMarketFavorableLeaseMember_214E32A115DC51E4EE8B0F6C10EB38FF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Off-Market Favorable Lease</link:label>
    <link:label id="lab_us-gaap_OffMarketFavorableLeaseMember_214E32A115DC51E4EE8B0F6C10EB38FF_label_en-US" xlink:label="lab_us-gaap_OffMarketFavorableLeaseMember_214E32A115DC51E4EE8B0F6C10EB38FF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Off-Market Favorable Lease [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OffMarketFavorableLeaseMember" xlink:label="loc_us-gaap_OffMarketFavorableLeaseMember_214E32A115DC51E4EE8B0F6C10EB38FF" xlink:type="locator" />
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    <link:label id="lab_us-gaap_CustomerRelationshipsMember_AA7AB993FADEE236092B0F6C10EB68C6_terseLabel_en-US" xlink:label="lab_us-gaap_CustomerRelationshipsMember_AA7AB993FADEE236092B0F6C10EB68C6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Customer relationships</link:label>
    <link:label id="lab_us-gaap_CustomerRelationshipsMember_AA7AB993FADEE236092B0F6C10EB68C6_label_en-US" xlink:label="lab_us-gaap_CustomerRelationshipsMember_AA7AB993FADEE236092B0F6C10EB68C6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Customer Relationships [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CustomerRelationshipsMember" xlink:label="loc_us-gaap_CustomerRelationshipsMember_AA7AB993FADEE236092B0F6C10EB68C6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CustomerRelationshipsMember_AA7AB993FADEE236092B0F6C10EB68C6" xlink:to="lab_us-gaap_CustomerRelationshipsMember_AA7AB993FADEE236092B0F6C10EB68C6" xlink:type="arc" />
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems_0D81F89EBCBDB0D334610F6C10EBCAC6_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems_0D81F89EBCBDB0D334610F6C10EBCAC6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets [Line Items]</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems_0D81F89EBCBDB0D334610F6C10EBCAC6_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems_0D81F89EBCBDB0D334610F6C10EBCAC6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsLineItems_0D81F89EBCBDB0D334610F6C10EBCAC6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsLineItems_0D81F89EBCBDB0D334610F6C10EBCAC6" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems_0D81F89EBCBDB0D334610F6C10EBCAC6" xlink:type="arc" />
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNetAbstract_27A59AEED7FE05B222250F6C10EB6947_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNetAbstract_27A59AEED7FE05B222250F6C10EB6947" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible assets:</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNetAbstract_27A59AEED7FE05B222250F6C10EB6947_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNetAbstract_27A59AEED7FE05B222250F6C10EB6947" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Net [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsNetAbstract" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsNetAbstract_27A59AEED7FE05B222250F6C10EB6947" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNetAbstract_27A59AEED7FE05B222250F6C10EB6947" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsNetAbstract_27A59AEED7FE05B222250F6C10EB6947" xlink:type="arc" />
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsGross_418BE6985433589D25D60F6C10EB00E3_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsGross_418BE6985433589D25D60F6C10EB00E3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquired finite-lived intangibles</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsGross_418BE6985433589D25D60F6C10EB00E3_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsGross_418BE6985433589D25D60F6C10EB00E3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Gross</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsGross" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsGross_418BE6985433589D25D60F6C10EB00E3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsGross_418BE6985433589D25D60F6C10EB00E3" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsGross_418BE6985433589D25D60F6C10EB00E3" xlink:type="arc" />
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_5D1FF8A296A2218A70790F6C10EB7424_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_5D1FF8A296A2218A70790F6C10EB7424" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Accumulated amortization</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_5D1FF8A296A2218A70790F6C10EB7424_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_5D1FF8A296A2218A70790F6C10EB7424" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Accumulated Amortization</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_5D1FF8A296A2218A70790F6C10EB7424" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_5D1FF8A296A2218A70790F6C10EB7424" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_5D1FF8A296A2218A70790F6C10EB7424" xlink:type="arc" />
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNet_3A08916209E7B1D4C0B70F6C10EB57F5_totalLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNet_3A08916209E7B1D4C0B70F6C10EB57F5" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNet_3A08916209E7B1D4C0B70F6C10EB57F5_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNet_3A08916209E7B1D4C0B70F6C10EB57F5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsNet" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsNet_3A08916209E7B1D4C0B70F6C10EB57F5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNet_3A08916209E7B1D4C0B70F6C10EB57F5" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsNet_3A08916209E7B1D4C0B70F6C10EB57F5" xlink:type="arc" />
    <link:label id="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_BAD00DFC7000EA0011450F6C10EBAA10_terseLabel_en-US" xlink:label="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_BAD00DFC7000EA0011450F6C10EBAA10" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total intangible assets, net</link:label>
    <link:label id="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_BAD00DFC7000EA0011450F6C10EBAA10_label_en-US" xlink:label="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_BAD00DFC7000EA0011450F6C10EBAA10" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Assets, Net (Excluding Goodwill)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:label="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_BAD00DFC7000EA0011450F6C10EBAA10" xlink:type="locator" />
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    <link:label id="lab_us-gaap_BelowMarketLeaseAbstract_A3C8574A605509D4E1620F6C10EBF277_terseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAbstract_A3C8574A605509D4E1620F6C10EBF277" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible liabilities:</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAbstract_A3C8574A605509D4E1620F6C10EBF277_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAbstract_A3C8574A605509D4E1620F6C10EBF277" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_BelowMarketLeaseAbstract" xlink:label="loc_us-gaap_BelowMarketLeaseAbstract_A3C8574A605509D4E1620F6C10EBF277" xlink:type="locator" />
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    <link:label id="lab_us-gaap_BelowMarketLeaseGross_5A68AA145B56659EDFE20F6C10FA9C3C_terseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseGross_5A68AA145B56659EDFE20F6C10FA9C3C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquired unfavorable lease intangibles</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseGross_5A68AA145B56659EDFE20F6C10FA9C3C_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseGross_5A68AA145B56659EDFE20F6C10FA9C3C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Gross</link:label>
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    <link:label id="lab_us-gaap_BelowMarketLeaseAccumulatedAmortization_D9D1217C284D37BE62880F6C10FA3CED_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAccumulatedAmortization_D9D1217C284D37BE62880F6C10FA3CED" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Accumulated Amortization</link:label>
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    <link:loc xlink:href="ftai-20180930.xsd#ftai_RelatedPartyTransactionIncomeIncentiveAllocationQuarterlyPercentThresholdofPreIncentiveAllocationNetIncome" xlink:label="loc_ftai_RelatedPartyTransactionIncomeIncentiveAllocationQuarterlyPercentThresholdofPreIncentiveAllocationNetIncome_B203510815290A4B70D8C64A89AA3AA8" xlink:type="locator" />
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    <link:loc xlink:href="ftai-20180930.xsd#ftai_RelatedPartyTransactionIncomeIncentiveAllocationAnnualPercentThresholdofPreIncentiveAllocationNetIncome" xlink:label="loc_ftai_RelatedPartyTransactionIncomeIncentiveAllocationAnnualPercentThresholdofPreIncentiveAllocationNetIncome_C6A34BA90A1448EB8941C64A89AA2894" xlink:type="locator" />
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    <link:label id="lab_ftai_RelatedPartyTransactionIncomeExpensesfromTransactionswithRelatedParty_946DDF9DC5A3234ADBE8C66A20079B4F_terseLabel_en-US" xlink:label="lab_ftai_RelatedPartyTransactionIncomeExpensesfromTransactionswithRelatedParty_946DDF9DC5A3234ADBE8C66A20079B4F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management fees and incentive allocation to affiliate</link:label>
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    <link:label id="lab_us-gaap_AccountsPayableRelatedPartiesCurrentAndNoncurrent_043838820AF52B01026CC64A89AABFD6_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsPayableRelatedPartiesCurrentAndNoncurrent_043838820AF52B01026CC64A89AABFD6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued management fees</link:label>
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    <link:label id="lab_us-gaap_DueToAffiliateCurrentAndNoncurrent_36DF64B74969C408C5C3C64A89AA29A7_terseLabel_en-US" xlink:label="lab_us-gaap_DueToAffiliateCurrentAndNoncurrent_36DF64B74969C408C5C3C64A89AA29A7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other payables</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_AA72E80003AB35659080A7ED9C45532B" xlink:type="locator" />
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    <link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_C04F54A23FCDE9887D46A7ED9C45576A_verboseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_C04F54A23FCDE9887D46A7ED9C45576A" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Weighted Average Shares Outstanding - Diluted (in shares)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_C04F54A23FCDE9887D46A7ED9C45576A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_C04F54A23FCDE9887D46A7ED9C45576A" xlink:to="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_C04F54A23FCDE9887D46A7ED9C45576A" xlink:type="arc" />
    <link:label id="lab_us-gaap_EarningsPerShareBasic_74DC1E06BA0A48DE1C9BA7ED9C467EE4_verboseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasic_74DC1E06BA0A48DE1C9BA7ED9C467EE4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Basic EPS (in dollars per share)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_EarningsPerShareBasic" xlink:label="loc_us-gaap_EarningsPerShareBasic_74DC1E06BA0A48DE1C9BA7ED9C467EE4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareBasic_74DC1E06BA0A48DE1C9BA7ED9C467EE4" xlink:to="lab_us-gaap_EarningsPerShareBasic_74DC1E06BA0A48DE1C9BA7ED9C467EE4" xlink:type="arc" />
    <link:label id="lab_us-gaap_EarningsPerShareDiluted_BF528BF9E3D437526339A7ED9C464D37_verboseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareDiluted_BF528BF9E3D437526339A7ED9C464D37" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Diluted EPS (in dollars per share)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_EarningsPerShareDiluted" xlink:label="loc_us-gaap_EarningsPerShareDiluted_BF528BF9E3D437526339A7ED9C464D37" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareDiluted_BF528BF9E3D437526339A7ED9C464D37" xlink:to="lab_us-gaap_EarningsPerShareDiluted_BF528BF9E3D437526339A7ED9C464D37" xlink:type="arc" />
    <link:label id="lab_ftai_ParticipatingSecuritiesDistributedandUndistributedEarningsLossBasicandDiluted_461F48B99129F1936B9DA7FC37F785F5_terseLabel_en-US" xlink:label="lab_ftai_ParticipatingSecuritiesDistributedandUndistributedEarningsLossBasicandDiluted_461F48B99129F1936B9DA7FC37F785F5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Participating securities (in shares)</link:label>
    <link:label id="lab_ftai_ParticipatingSecuritiesDistributedandUndistributedEarningsLossBasicandDiluted_461F48B99129F1936B9DA7FC37F785F5_label_en-US" xlink:label="lab_ftai_ParticipatingSecuritiesDistributedandUndistributedEarningsLossBasicandDiluted_461F48B99129F1936B9DA7FC37F785F5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Participating Securities, Distributed and Undistributed Earnings (Loss), Basic and Diluted</link:label>
    <link:label id="lab_ftai_ParticipatingSecuritiesDistributedandUndistributedEarningsLossBasicandDiluted_461F48B99129F1936B9DA7FC37F785F5_documentation_en-US" xlink:label="lab_ftai_ParticipatingSecuritiesDistributedandUndistributedEarningsLossBasicandDiluted_461F48B99129F1936B9DA7FC37F785F5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Participating Securities, Distributed and Undistributed Earnings (Loss), Basic and Diluted</link:label>
    <link:loc xlink:href="ftai-20180930.xsd#ftai_ParticipatingSecuritiesDistributedandUndistributedEarningsLossBasicandDiluted" xlink:label="loc_ftai_ParticipatingSecuritiesDistributedandUndistributedEarningsLossBasicandDiluted_461F48B99129F1936B9DA7FC37F785F5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_ParticipatingSecuritiesDistributedandUndistributedEarningsLossBasicandDiluted_461F48B99129F1936B9DA7FC37F785F5" xlink:to="lab_ftai_ParticipatingSecuritiesDistributedandUndistributedEarningsLossBasicandDiluted_461F48B99129F1936B9DA7FC37F785F5" xlink:type="arc" />
    <link:label id="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_68426D0E6780412752AAA7ED9C46BB6A_terseLabel_en-US" xlink:label="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_68426D0E6780412752AAA7ED9C46BB6A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Antidilutive shares excluded from the calculation of diluted EPS (in shares)</link:label>
    <link:label id="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_68426D0E6780412752AAA7ED9C46BB6A_label_en-US" xlink:label="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_68426D0E6780412752AAA7ED9C46BB6A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:label="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_68426D0E6780412752AAA7ED9C46BB6A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_68426D0E6780412752AAA7ED9C46BB6A" xlink:to="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_68426D0E6780412752AAA7ED9C46BB6A" xlink:type="arc" />
    <link:label id="lab_ftai_AdjustedNetIncomeLoss_67F0484AB0947293E130D014225A71DF_terseLabel_en-US" xlink:label="lab_ftai_AdjustedNetIncomeLoss_67F0484AB0947293E130D014225A71DF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjusted Net Income (Loss)</link:label>
    <link:label id="lab_ftai_AdjustedNetIncomeLoss_67F0484AB0947293E130D014225A71DF_label_en-US" xlink:label="lab_ftai_AdjustedNetIncomeLoss_67F0484AB0947293E130D014225A71DF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjusted Net Income (Loss)</link:label>
    <link:label id="lab_ftai_AdjustedNetIncomeLoss_67F0484AB0947293E130D014225A71DF_documentation_en-US" xlink:label="lab_ftai_AdjustedNetIncomeLoss_67F0484AB0947293E130D014225A71DF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Adjusted Net Income (Loss)</link:label>
    <link:loc xlink:href="ftai-20180930.xsd#ftai_AdjustedNetIncomeLoss" xlink:label="loc_ftai_AdjustedNetIncomeLoss_67F0484AB0947293E130D014225A71DF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_AdjustedNetIncomeLoss_67F0484AB0947293E130D014225A71DF" xlink:to="lab_ftai_AdjustedNetIncomeLoss_67F0484AB0947293E130D014225A71DF" xlink:type="arc" />
    <link:label id="lab_ftai_AdjustedNetIncomeLossAttributabletoNonControllingInterest_DAD75F4549F6E126AEF8D014225B61C5_terseLabel_en-US" xlink:label="lab_ftai_AdjustedNetIncomeLossAttributabletoNonControllingInterest_DAD75F4549F6E126AEF8D014225B61C5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Add: Non-controlling share of adjustments to Adjusted Net Income</link:label>
    <link:label id="lab_ftai_AdjustedNetIncomeLossAttributabletoNonControllingInterest_DAD75F4549F6E126AEF8D014225B61C5_label_en-US" xlink:label="lab_ftai_AdjustedNetIncomeLossAttributabletoNonControllingInterest_DAD75F4549F6E126AEF8D014225B61C5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjusted Net Income (Loss) Attributable to Non-Controlling Interest</link:label>
    <link:label id="lab_ftai_AdjustedNetIncomeLossAttributabletoNonControllingInterest_DAD75F4549F6E126AEF8D014225B61C5_documentation_en-US" xlink:label="lab_ftai_AdjustedNetIncomeLossAttributabletoNonControllingInterest_DAD75F4549F6E126AEF8D014225B61C5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Adjusted Net Income (Loss) Attributable to Non-Controlling Interest</link:label>
    <link:loc xlink:href="ftai-20180930.xsd#ftai_AdjustedNetIncomeLossAttributabletoNonControllingInterest" xlink:label="loc_ftai_AdjustedNetIncomeLossAttributabletoNonControllingInterest_DAD75F4549F6E126AEF8D014225B61C5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_AdjustedNetIncomeLossAttributabletoNonControllingInterest_DAD75F4549F6E126AEF8D014225B61C5" xlink:to="lab_ftai_AdjustedNetIncomeLossAttributabletoNonControllingInterest_DAD75F4549F6E126AEF8D014225B61C5" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeTaxesPaidNet_C6E118AEC365E9D3719ED014225BF446_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxesPaidNet_C6E118AEC365E9D3719ED014225BF446" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Add: Cash payments for income taxes</link:label>
    <link:label id="lab_us-gaap_IncomeTaxesPaidNet_C6E118AEC365E9D3719ED014225BF446_label_en-US" xlink:label="lab_us-gaap_IncomeTaxesPaidNet_C6E118AEC365E9D3719ED014225BF446" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Taxes Paid, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncomeTaxesPaidNet" xlink:label="loc_us-gaap_IncomeTaxesPaidNet_C6E118AEC365E9D3719ED014225BF446" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxesPaidNet_C6E118AEC365E9D3719ED014225BF446" xlink:to="lab_us-gaap_IncomeTaxesPaidNet_C6E118AEC365E9D3719ED014225BF446" xlink:type="arc" />
    <link:label id="lab_ftai_IncentiveIncomeAllocated_B9B9B40A6B04739C79F4D014225C544D_terseLabel_en-US" xlink:label="lab_ftai_IncentiveIncomeAllocated_B9B9B40A6B04739C79F4D014225C544D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Less: Incentive allocations</link:label>
    <link:label id="lab_ftai_IncentiveIncomeAllocated_B9B9B40A6B04739C79F4D014225C544D_label_en-US" xlink:label="lab_ftai_IncentiveIncomeAllocated_B9B9B40A6B04739C79F4D014225C544D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Incentive Income Allocated</link:label>
    <link:label id="lab_ftai_IncentiveIncomeAllocated_B9B9B40A6B04739C79F4D014225C544D_documentation_en-US" xlink:label="lab_ftai_IncentiveIncomeAllocated_B9B9B40A6B04739C79F4D014225C544D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Incentive Income Allocated</link:label>
    <link:loc xlink:href="ftai-20180930.xsd#ftai_IncentiveIncomeAllocated" xlink:label="loc_ftai_IncentiveIncomeAllocated_B9B9B40A6B04739C79F4D014225C544D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_IncentiveIncomeAllocated_B9B9B40A6B04739C79F4D014225C544D" xlink:to="lab_ftai_IncentiveIncomeAllocated_B9B9B40A6B04739C79F4D014225C544D" xlink:type="arc" />
    <link:label id="lab_ftai_IncomeLossfromEquityMethodInvestmentsProRataShare_2092F482E6E0BD548E42D014225CD9C3_terseLabel_en-US" xlink:label="lab_ftai_IncomeLossfromEquityMethodInvestmentsProRataShare_2092F482E6E0BD548E42D014225CD9C3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Less: Pro-rata share of Adjusted Net Income from investments in unconsolidated entities</link:label>
    <link:label id="lab_ftai_IncomeLossfromEquityMethodInvestmentsProRataShare_2092F482E6E0BD548E42D014225CD9C3_label_en-US" xlink:label="lab_ftai_IncomeLossfromEquityMethodInvestmentsProRataShare_2092F482E6E0BD548E42D014225CD9C3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income (Loss) from Equity Method Investments, Pro-Rata Share</link:label>
    <link:label id="lab_ftai_IncomeLossfromEquityMethodInvestmentsProRataShare_2092F482E6E0BD548E42D014225CD9C3_documentation_en-US" xlink:label="lab_ftai_IncomeLossfromEquityMethodInvestmentsProRataShare_2092F482E6E0BD548E42D014225CD9C3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Income (Loss) from Equity Method Investments, Pro-Rata Share</link:label>
    <link:loc xlink:href="ftai-20180930.xsd#ftai_IncomeLossfromEquityMethodInvestmentsProRataShare" xlink:label="loc_ftai_IncomeLossfromEquityMethodInvestmentsProRataShare_2092F482E6E0BD548E42D014225CD9C3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_IncomeLossfromEquityMethodInvestmentsProRataShare_2092F482E6E0BD548E42D014225CD9C3" xlink:to="lab_ftai_IncomeLossfromEquityMethodInvestmentsProRataShare_2092F482E6E0BD548E42D014225CD9C3" xlink:type="arc" />
    <link:label id="lab_us-gaap_AssetImpairmentCharges_B07DD659B787D0FA0F66D014225CB1C2_negatedLabel_en-US" xlink:label="lab_us-gaap_AssetImpairmentCharges_B07DD659B787D0FA0F66D014225CB1C2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Less: Asset impairment charges</link:label>
    <link:label id="lab_us-gaap_AssetImpairmentCharges_B07DD659B787D0FA0F66D014225CB1C2_label_en-US" xlink:label="lab_us-gaap_AssetImpairmentCharges_B07DD659B787D0FA0F66D014225CB1C2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Impairment Charges</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AssetImpairmentCharges" xlink:label="loc_us-gaap_AssetImpairmentCharges_B07DD659B787D0FA0F66D014225CB1C2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetImpairmentCharges_B07DD659B787D0FA0F66D014225CB1C2" xlink:to="lab_us-gaap_AssetImpairmentCharges_B07DD659B787D0FA0F66D014225CB1C2" xlink:type="arc" />
    <link:label id="lab_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1_4DB757303771642B7F4BD01F5946299A_terseLabel_en-US" xlink:label="lab_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1_4DB757303771642B7F4BD01F5946299A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Less: Changes in fair value of non-hedge derivative instruments</link:label>
    <link:label id="lab_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1_4DB757303771642B7F4BD01F5946299A_label_en-US" xlink:label="lab_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1_4DB757303771642B7F4BD01F5946299A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1" xlink:label="loc_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1_4DB757303771642B7F4BD01F5946299A" xlink:type="locator" />
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    <link:label id="lab_ftai_GainsLossesonExtinguishmentorRestructuringofDebt_F83D310ED698F706231FD014225D364F_terseLabel_en-US" xlink:label="lab_ftai_GainsLossesonExtinguishmentorRestructuringofDebt_F83D310ED698F706231FD014225D364F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Less: Losses on the modification or extinguishment of debt and capital lease obligations</link:label>
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    <link:label id="lab_ftai_GainsLossesonExtinguishmentorRestructuringofDebt_F83D310ED698F706231FD014225D364F_documentation_en-US" xlink:label="lab_ftai_GainsLossesonExtinguishmentorRestructuringofDebt_F83D310ED698F706231FD014225D364F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Gains (Losses) on Extinguishment or Restructuring of Debt</link:label>
    <link:loc xlink:href="ftai-20180930.xsd#ftai_GainsLossesonExtinguishmentorRestructuringofDebt" xlink:label="loc_ftai_GainsLossesonExtinguishmentorRestructuringofDebt_F83D310ED698F706231FD014225D364F" xlink:type="locator" />
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    <link:label id="lab_us-gaap_BusinessCombinationAcquisitionRelatedCosts_74C8A0150AB2770E02F6D014225DC7BA_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationAcquisitionRelatedCosts_74C8A0150AB2770E02F6D014225DC7BA" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Less: Acquisition and transaction expenses</link:label>
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    <link:label id="lab_us-gaap_StatementOfCashFlowsAbstract_33D2794C95A3EC5F5E80D0142AD0F6E9_label_en-US" xlink:label="lab_us-gaap_StatementOfCashFlowsAbstract_33D2794C95A3EC5F5E80D0142AD0F6E9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Cash Flows [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="loc_us-gaap_StatementOfCashFlowsAbstract_33D2794C95A3EC5F5E80D0142AD0F6E9" xlink:type="locator" />
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    <link:label id="lab_us-gaap_GainLossOnDispositionOfAssets_4820DCC22E8D30CB940DD0142AD2B4C3_negatedLabel_en-US" xlink:label="lab_us-gaap_GainLossOnDispositionOfAssets_4820DCC22E8D30CB940DD0142AD2B4C3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Gain on sale of equipment, net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_GainLossOnDispositionOfAssets" xlink:label="loc_us-gaap_GainLossOnDispositionOfAssets_4820DCC22E8D30CB940DD0142AD2B4C3" xlink:type="locator" />
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    <link:label id="lab_ftai_ProceedsfromForfeitedSecurityDeposits_F0EB9810757097B8149BD0142AD2973D_negatedLabel_en-US" xlink:label="lab_ftai_ProceedsfromForfeitedSecurityDeposits_F0EB9810757097B8149BD0142AD2973D" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Security deposits and maintenance claims included in earnings</link:label>
    <link:label id="lab_ftai_ProceedsfromForfeitedSecurityDeposits_F0EB9810757097B8149BD0142AD2973D_label_en-US" xlink:label="lab_ftai_ProceedsfromForfeitedSecurityDeposits_F0EB9810757097B8149BD0142AD2973D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Forfeited Security Deposits</link:label>
    <link:label id="lab_ftai_ProceedsfromForfeitedSecurityDeposits_F0EB9810757097B8149BD0142AD2973D_documentation_en-US" xlink:label="lab_ftai_ProceedsfromForfeitedSecurityDeposits_F0EB9810757097B8149BD0142AD2973D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proceeds from Forfeited Security Deposits</link:label>
    <link:loc xlink:href="ftai-20180930.xsd#ftai_ProceedsfromForfeitedSecurityDeposits" xlink:label="loc_ftai_ProceedsfromForfeitedSecurityDeposits_F0EB9810757097B8149BD0142AD2973D" xlink:type="locator" />
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    <link:label id="lab_us-gaap_GainsLossesOnExtinguishmentOfDebt_B8026E70FEB7C19D2D9ED0142AD2E050_negatedLabel_en-US" xlink:label="lab_us-gaap_GainsLossesOnExtinguishmentOfDebt_B8026E70FEB7C19D2D9ED0142AD2E050" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Loss on extinguishment of debt</link:label>
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    <link:label id="lab_us-gaap_AllocatedShareBasedCompensationExpense_5C0670936DCC90C289F4D0142AD2C9C5_verboseLabel_en-US" xlink:label="lab_us-gaap_AllocatedShareBasedCompensationExpense_5C0670936DCC90C289F4D0142AD2C9C5" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Equity-based compensation</link:label>
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    <link:label id="lab_ftai_GainonSettlementofLiabilities_D632B56F0E3F3EE354DAD0142AD36680_negatedLabel_en-US" xlink:label="lab_ftai_GainonSettlementofLiabilities_D632B56F0E3F3EE354DAD0142AD36680" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Gain on settlement of liabilities</link:label>
    <link:label id="lab_ftai_GainonSettlementofLiabilities_D632B56F0E3F3EE354DAD0142AD36680_label_en-US" xlink:label="lab_ftai_GainonSettlementofLiabilities_D632B56F0E3F3EE354DAD0142AD36680" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain on Settlement of Liabilities</link:label>
    <link:label id="lab_ftai_GainonSettlementofLiabilities_D632B56F0E3F3EE354DAD0142AD36680_documentation_en-US" xlink:label="lab_ftai_GainonSettlementofLiabilities_D632B56F0E3F3EE354DAD0142AD36680" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Gain on Settlement of Liabilities</link:label>
    <link:loc xlink:href="ftai-20180930.xsd#ftai_GainonSettlementofLiabilities" xlink:label="loc_ftai_GainonSettlementofLiabilities_D632B56F0E3F3EE354DAD0142AD36680" xlink:type="locator" />
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_5F977F20C4A878B837C7D0142AD6E12A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_5F977F20C4A878B837C7D0142AD6E12A" xlink:to="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_5F977F20C4A878B837C7D0142AD6E12A" xlink:type="arc" />
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    <link:label id="lab_us-gaap_ProceedsFromSaleOfOtherAssetsInvestingActivities_7C952CF06F028681A26DD0142AD971E3_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfOtherAssetsInvestingActivities_7C952CF06F028681A26DD0142AD971E3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Return of purchase deposit for aircraft and aircraft engines</link:label>
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    <link:label id="lab_ftai_PaymentsforDepositsonSaleofMachineryandEquipment_99CA14317BD5F4934289D0142AD95677_negatedLabel_en-US" xlink:label="lab_ftai_PaymentsforDepositsonSaleofMachineryandEquipment_99CA14317BD5F4934289D0142AD95677" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Return of deposit on sale of engine</link:label>
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    <link:label id="lab_us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital_A9A65EB572A1315435A9D0142ADABA1C_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital_A9A65EB572A1315435A9D0142ADABA1C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Return of capital distributions from unconsolidated entities</link:label>
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    <link:label id="lab_us-gaap_CargoAndFreightMember_9A97FD60374172347072311DF08ECC76_terseLabel_en-US" xlink:label="lab_us-gaap_CargoAndFreightMember_9A97FD60374172347072311DF08ECC76" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Rail revenues</link:label>
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