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    <link:label id="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_d4b4af96-4317-4a08-82c5-5cbbbc25b0ec_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Variable Interest Entity, Primary Beneficiary</link:label>
    <link:label id="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Variable Interest Entity, Primary Beneficiary [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_VariableInterestEntityPrimaryBeneficiaryMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:to="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RevolvingCreditFacilityMember_34238657-0130-4d68-9c5b-31c6f6f40c45_terseLabel_en-US" xlink:label="lab_us-gaap_RevolvingCreditFacilityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Revolving Credit Facility</link:label>
    <link:label id="lab_us-gaap_RevolvingCreditFacilityMember_label_en-US" xlink:label="lab_us-gaap_RevolvingCreditFacilityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Revolving Credit Facility [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevolvingCreditFacilityMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RevolvingCreditFacilityMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevolvingCreditFacilityMember" xlink:to="lab_us-gaap_RevolvingCreditFacilityMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentImpairment_2877aa00-c046-43cf-a903-6da4c5ee900a_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentImpairment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Impairment of Long-Lived Assets</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentImpairment_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentImpairment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Property, Plant and Equipment, Impairment [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentImpairment" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PropertyPlantAndEquipmentImpairment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentImpairment" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentImpairment" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Equity Method Investments and Joint Ventures [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract" xlink:to="lab_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SegmentReportingAbstract_label_en-US" xlink:label="lab_us-gaap_SegmentReportingAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Segment Reporting [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SegmentReportingAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SegmentReportingAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentReportingAbstract" xlink:to="lab_us-gaap_SegmentReportingAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_1ea7258b-b0db-45bf-9c20-233cb9db60ad_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Accounts payable and accrued liabilities</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable"/>
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    <link:label id="lab_us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract_label_en-US" xlink:label="lab_us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Discontinued Operations and Disposal Groups [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract" xlink:to="lab_us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_142cfa8a-2dfd-4280-9cb7-b0f997175196_terseLabel_en-US" xlink:label="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Investment, Name [Axis]</link:label>
    <link:label id="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_label_en-US" xlink:label="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Investment, Name [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:to="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_TransfersFromLeasingEquipment_92af764e-14f8-4177-bd3b-ac19b768a70f_terseLabel_en-US" xlink:label="lab_ftai_TransfersFromLeasingEquipment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Transfers from leasing equipment</link:label>
    <link:label id="lab_ftai_TransfersFromLeasingEquipment_label_en-US" xlink:label="lab_ftai_TransfersFromLeasingEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Transfers From Leasing Equipment</link:label>
    <link:label id="lab_ftai_TransfersFromLeasingEquipment_documentation_en-US" xlink:label="lab_ftai_TransfersFromLeasingEquipment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Transfers From Leasing Equipment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_TransfersFromLeasingEquipment" xlink:href="ftai-20231231.xsd#ftai_TransfersFromLeasingEquipment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_TransfersFromLeasingEquipment" xlink:to="lab_ftai_TransfersFromLeasingEquipment" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NonoperatingIncomeExpense_a54da16c-4293-4386-93c6-5455c270f034_totalLabel_en-US" xlink:label="lab_us-gaap_NonoperatingIncomeExpense" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total other income</link:label>
    <link:label id="lab_us-gaap_NonoperatingIncomeExpense_5577c78e-e97f-4098-9a62-a5d8f278d8df_terseLabel_en-US" xlink:label="lab_us-gaap_NonoperatingIncomeExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total other income</link:label>
    <link:label id="lab_us-gaap_NonoperatingIncomeExpense_label_en-US" xlink:label="lab_us-gaap_NonoperatingIncomeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Nonoperating Income (Expense)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NonoperatingIncomeExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NonoperatingIncomeExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NonoperatingIncomeExpense" xlink:to="lab_us-gaap_NonoperatingIncomeExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_LineOfCreditFacilityIncreaseDecreaseToMaximumBorrowingCapacity_d22bc414-ff09-4ced-bf98-ad632423bbcb_terseLabel_en-US" xlink:label="lab_ftai_LineOfCreditFacilityIncreaseDecreaseToMaximumBorrowingCapacity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Additional revolving commitments</link:label>
    <link:label id="lab_ftai_LineOfCreditFacilityIncreaseDecreaseToMaximumBorrowingCapacity_label_en-US" xlink:label="lab_ftai_LineOfCreditFacilityIncreaseDecreaseToMaximumBorrowingCapacity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Line of Credit Facility, Increase (Decrease) To Maximum Borrowing Capacity</link:label>
    <link:label id="lab_ftai_LineOfCreditFacilityIncreaseDecreaseToMaximumBorrowingCapacity_documentation_en-US" xlink:label="lab_ftai_LineOfCreditFacilityIncreaseDecreaseToMaximumBorrowingCapacity" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Line of Credit Facility, Increase (Decrease) To Maximum Borrowing Capacity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_LineOfCreditFacilityIncreaseDecreaseToMaximumBorrowingCapacity" xlink:href="ftai-20231231.xsd#ftai_LineOfCreditFacilityIncreaseDecreaseToMaximumBorrowingCapacity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_LineOfCreditFacilityIncreaseDecreaseToMaximumBorrowingCapacity" xlink:to="lab_ftai_LineOfCreditFacilityIncreaseDecreaseToMaximumBorrowingCapacity" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommitmentsAndContingencies_63096324-1902-4dca-b3e8-3489ae03a486_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingencies" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Commitments and contingencies</link:label>
    <link:label id="lab_us-gaap_CommitmentsAndContingencies_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingencies" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Commitments and Contingencies</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingencies" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommitmentsAndContingencies"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingencies" xlink:to="lab_us-gaap_CommitmentsAndContingencies" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfCommonStock_3f247d65-2bda-43b9-9ed9-ee9dd8aeab89_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proceeds from issuance of ordinary shares, net of underwriter's discount</link:label>
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    <link:label id="lab_ftai_A825FixedToFloatingRateSeriesACumulativePerpetualRedeemablePreferredSharesMember_84d25793-1d7e-460f-994c-6f14691c21e1_terseLabel_en-US" xlink:label="lab_ftai_A825FixedToFloatingRateSeriesACumulativePerpetualRedeemablePreferredSharesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">8.25% Fixed-to-Floating Rate Series A Cumulative Perpetual Redeemable Preferred Shares</link:label>
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    <link:label id="lab_us-gaap_GeneralPartnerMember_2ed4f165-56b4-4df8-9c81-b106e1fe5291_terseLabel_en-US" xlink:label="lab_us-gaap_GeneralPartnerMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">General Partner</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GeneralPartnerMember" xlink:to="lab_us-gaap_GeneralPartnerMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_PaymentsForAdvanceToAffiliateDiscontinuedOperations_748962af-59dc-4903-954c-2d41ef2dbe5d_negatedTerseLabel_en-US" xlink:label="lab_ftai_PaymentsForAdvanceToAffiliateDiscontinuedOperations" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Investment in unconsolidated entities</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ftai_PaymentsForAdvanceToAffiliateDiscontinuedOperations" xlink:href="ftai-20231231.xsd#ftai_PaymentsForAdvanceToAffiliateDiscontinuedOperations"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_PaymentsForAdvanceToAffiliateDiscontinuedOperations" xlink:to="lab_ftai_PaymentsForAdvanceToAffiliateDiscontinuedOperations" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_StatementGeographicalAxis_537d352c-17b1-49b5-9fda-4770f294ec8b_terseLabel_en-US" xlink:label="lab_srt_StatementGeographicalAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Geographical [Axis]</link:label>
    <link:label id="lab_srt_StatementGeographicalAxis_label_en-US" xlink:label="lab_srt_StatementGeographicalAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Geographical [Axis]</link:label>
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    <link:label id="lab_us-gaap_IncomeTaxDisclosureTextBlock_090bbc80-c214-410a-9e5f-703eb39c4cfc_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">INCOME TAXES</link:label>
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    <link:label id="lab_us-gaap_MaintenanceMember_324a6117-17cb-4914-a0c2-5b4e83a06709_terseLabel_en-US" xlink:label="lab_us-gaap_MaintenanceMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Maintenance revenue</link:label>
    <link:label id="lab_us-gaap_MaintenanceMember_label_en-US" xlink:label="lab_us-gaap_MaintenanceMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Maintenance [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MaintenanceMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_MaintenanceMember"/>
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    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_2609c7bf-921a-4191-a946-8e962fcf7bc9_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expected dividend yield</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate"/>
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    <link:label id="lab_us-gaap_InterestCapitalizationPolicyPolicyTextBlock_d61e2bc2-89fc-48f4-a98e-ccc399e7357c_terseLabel_en-US" xlink:label="lab_us-gaap_InterestCapitalizationPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Capitalized Interest</link:label>
    <link:label id="lab_us-gaap_InterestCapitalizationPolicyPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_InterestCapitalizationPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Interest Capitalization, Policy [Policy Text Block]</link:label>
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    <link:label id="lab_ftai_OperatingActivitiesDiscontinuedOperationsNoncashDepreciationAndAmortization_b960b2f8-5173-4822-8b37-de8a028d7eee_terseLabel_en-US" xlink:label="lab_ftai_OperatingActivitiesDiscontinuedOperationsNoncashDepreciationAndAmortization" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Depreciation and amortization</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ftai_OperatingActivitiesDiscontinuedOperationsNoncashDepreciationAndAmortization" xlink:href="ftai-20231231.xsd#ftai_OperatingActivitiesDiscontinuedOperationsNoncashDepreciationAndAmortization"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_OperatingActivitiesDiscontinuedOperationsNoncashDepreciationAndAmortization" xlink:to="lab_ftai_OperatingActivitiesDiscontinuedOperationsNoncashDepreciationAndAmortization" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_DecreaseinMaintenanceDeposits_e261a84a-2fda-4700-8561-751a00c8ffef_negatedTerseLabel_en-US" xlink:label="lab_ftai_DecreaseinMaintenanceDeposits" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Release of maintenance deposits</link:label>
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    <link:label id="lab_ftai_DecreaseinMaintenanceDeposits_documentation_en-US" xlink:label="lab_ftai_DecreaseinMaintenanceDeposits" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Decrease in Maintenance Deposits</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_DecreaseinMaintenanceDeposits" xlink:href="ftai-20231231.xsd#ftai_DecreaseinMaintenanceDeposits"/>
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    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_ec18af9d-1892-451b-bdeb-c1fe97ba67d8_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Property, plant, and equipment, net</link:label>
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    <link:label id="lab_ftai_DepreciationDepletionAndAmortizationIncludingDiscontinuedOperations_6f5cf00f-4d06-43d4-8baf-3dd722c2e283_terseLabel_en-US" xlink:label="lab_ftai_DepreciationDepletionAndAmortizationIncludingDiscontinuedOperations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Depreciation and amortization</link:label>
    <link:label id="lab_ftai_DepreciationDepletionAndAmortizationIncludingDiscontinuedOperations_label_en-US" xlink:label="lab_ftai_DepreciationDepletionAndAmortizationIncludingDiscontinuedOperations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Depreciation, Depletion and Amortization, Including Discontinued Operations</link:label>
    <link:label id="lab_ftai_DepreciationDepletionAndAmortizationIncludingDiscontinuedOperations_documentation_en-US" xlink:label="lab_ftai_DepreciationDepletionAndAmortizationIncludingDiscontinuedOperations" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Depreciation, Depletion and Amortization, Including Discontinued Operations</link:label>
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    <link:label id="lab_srt_MajorCustomersAxis_b0d5a7e9-f1dd-408a-972d-9ea8adc86ded_terseLabel_en-US" xlink:label="lab_srt_MajorCustomersAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Customer [Axis]</link:label>
    <link:label id="lab_srt_MajorCustomersAxis_label_en-US" xlink:label="lab_srt_MajorCustomersAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Customer [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MajorCustomersAxis" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_MajorCustomersAxis"/>
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    <link:label id="lab_us-gaap_DeferredFederalIncomeTaxExpenseBenefit_3afb302b-4155-44b0-82b4-e8b3d8c7f015_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredFederalIncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Federal</link:label>
    <link:label id="lab_us-gaap_DeferredFederalIncomeTaxExpenseBenefit_label_en-US" xlink:label="lab_us-gaap_DeferredFederalIncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred Federal Income Tax Expense (Benefit)</link:label>
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    <link:label id="lab_ftai_InterestExpenseAndDividendsOnPreferredShares_fed4e8bb-f7c4-49c2-86b8-78de0b60d30d_negatedTerseLabel_en-US" xlink:label="lab_ftai_InterestExpenseAndDividendsOnPreferredShares" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Less: Interest expense and dividends on preferred shares</link:label>
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    <link:label id="lab_us-gaap_PreferredStockParOrStatedValuePerShare_4ab77d73-0a18-4d92-9dd0-0b2f78aca7b9_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred stock, par value (usd per share)</link:label>
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    <link:label id="lab_us-gaap_PaymentsToAcquireNotesReceivable_cd26c62e-4f50-4382-82b6-c4bc49bebbf2_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireNotesReceivable" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Investment in promissory notes</link:label>
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    <link:label id="lab_us-gaap_PaymentsOfDividendsCommonStock_91db1827-cc86-40bd-89cf-71d0566d39a9_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsCommonStock" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cash dividends - ordinary shares</link:label>
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    <link:label id="lab_ftai_RelatedPartyTransactionIncomeIncentiveAllocationPercentofPreincentiveAllocationNetIncome_2d2b991c-2759-4341-8234-bba9fd6efda0_terseLabel_en-US" xlink:label="lab_ftai_RelatedPartyTransactionIncomeIncentiveAllocationPercentofPreincentiveAllocationNetIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Percent of pre-incentive allocation net income</link:label>
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    <link:label id="lab_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse_3fdc8c03-b228-480e-ba3c-e33c08e83f65_terseLabel_en-US" xlink:label="lab_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Impairment charges</link:label>
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    <link:label id="lab_ftai_ScheduleOfRelatedPartyTransactions3TableTextBlock_dcb69e90-b52a-48eb-960a-4765ca57e704_terseLabel_en-US" xlink:label="lab_ftai_ScheduleOfRelatedPartyTransactions3TableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Amounts due to the Manager, which are included within accounts payable and accrued liabilities in the Consolidated Balance Sheets</link:label>
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    <link:label id="lab_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_5999d466-85dc-4534-96d4-c3f635ff1123_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Property, Plant and Equipment [Table]</link:label>
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    <link:label id="lab_ftai_LeasingEquipmentMember_b09602af-0dbf-4f22-ac03-1864d40365a8_verboseLabel_en-US" xlink:label="lab_ftai_LeasingEquipmentMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Leasing Equipment</link:label>
    <link:label id="lab_ftai_LeasingEquipmentMember_71954dfe-7d2f-4fdd-89fe-12ab4e6c06f2_terseLabel_en-US" xlink:label="lab_ftai_LeasingEquipmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Leasing equipment, net</link:label>
    <link:label id="lab_ftai_LeasingEquipmentMember_label_en-US" xlink:label="lab_ftai_LeasingEquipmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Leasing Equipment [Member]</link:label>
    <link:label id="lab_ftai_LeasingEquipmentMember_documentation_en-US" xlink:label="lab_ftai_LeasingEquipmentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Leasing Equipment</link:label>
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    <link:label id="lab_ftai_LeasingEquipmentPurchaseDeposits_5737834c-c2fe-4025-93e4-88f41913eb21_terseLabel_en-US" xlink:label="lab_ftai_LeasingEquipmentPurchaseDeposits" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Leasing equipment, purchase deposits</link:label>
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    <link:label id="lab_ftai_LeasingEquipmentPurchaseDeposits_documentation_en-US" xlink:label="lab_ftai_LeasingEquipmentPurchaseDeposits" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Leasing Equipment, Purchase Deposits</link:label>
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    <link:label id="lab_ftai_FiniteLivedIntangibleAssetsandBelowMarketLeasesAmortizationExpenseNetYearThree_df877dbf-8f8b-4d26-b029-768a091468ab_terseLabel_en-US" xlink:label="lab_ftai_FiniteLivedIntangibleAssetsandBelowMarketLeasesAmortizationExpenseNetYearThree" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">2026</link:label>
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    <link:label id="lab_us-gaap_OperatingLeasesOfLessorDisclosureTextBlock_ffc35203-65dc-4450-965a-ca3391f55c6e_verboseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesOfLessorDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">LEASING EQUIPMENT, NET</link:label>
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    <link:label id="lab_us-gaap_BuildingAndBuildingImprovementsMember_516af899-bf8f-4d53-864a-7e9a9793b1f4_terseLabel_en-US" xlink:label="lab_us-gaap_BuildingAndBuildingImprovementsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Buildings and improvements</link:label>
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    <link:label id="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments_e5ff20b5-df4f-4784-9506-c6ca71c0439d_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments to acquire investment</link:label>
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    <link:label id="lab_us-gaap_LongTermDebtFairValue_f6b9461f-328b-4af2-965d-6f3a4c1dd679_verboseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtFairValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fair value of debt payable</link:label>
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    <link:label id="lab_us-gaap_FairValueDisclosuresAbstract_label_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fair Value Disclosures [Abstract]</link:label>
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    <link:label id="lab_us-gaap_MachineryAndEquipmentMember_a02c976b-7e03-4626-aee4-cf242fe9d544_terseLabel_en-US" xlink:label="lab_us-gaap_MachineryAndEquipmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Machinery and equipment</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MachineryAndEquipmentMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_MachineryAndEquipmentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MachineryAndEquipmentMember" xlink:to="lab_us-gaap_MachineryAndEquipmentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CorporateBondSecuritiesMember_49b929f3-8917-46cf-bf3b-e7a453f2df44_terseLabel_en-US" xlink:label="lab_us-gaap_CorporateBondSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bonds payable</link:label>
    <link:label id="lab_us-gaap_CorporateBondSecuritiesMember_label_en-US" xlink:label="lab_us-gaap_CorporateBondSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Corporate Bond Securities [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CorporateBondSecuritiesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CorporateBondSecuritiesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CorporateBondSecuritiesMember" xlink:to="lab_us-gaap_CorporateBondSecuritiesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization_b6754a22-8b60-4e85-9148-771718bd2718_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Leasing equipment, net</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization"/>
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    <link:label id="lab_ftai_ScheduleOfRelatedPartyTransactions2TableTextBlock_label_en-US" xlink:label="lab_ftai_ScheduleOfRelatedPartyTransactions2TableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Related Party Transactions 2 [Table Text Block]</link:label>
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    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived_abdbf001-42a9-44ce-bee0-889237454d11_totalLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceived" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceived"/>
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    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems_8d7db717-0e32-473c-9f9a-909eb417374b_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Finite-Lived Intangible Assets [Line Items]</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FiniteLivedIntangibleAssetsLineItems"/>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsTable"/>
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    <link:label id="lab_ftai_ProceedsFromSaleOfPropertyPlantAndEquipmentDiscontinuedOperations_05086d93-c5a4-4323-9ff6-853be5388dae_terseLabel_en-US" xlink:label="lab_ftai_ProceedsFromSaleOfPropertyPlantAndEquipmentDiscontinuedOperations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proceeds from sale of property, plant and equipment</link:label>
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    <link:label id="lab_us-gaap_ConcentrationRiskBenchmarkDomain_d6f7f139-e2aa-4e43-811a-f07db875a0aa_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskBenchmarkDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Concentration Risk Benchmark [Domain]</link:label>
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    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_3b5b007f-5f8b-484d-bc8a-4a5b83fb8c27_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Less: exercised (in shares)</link:label>
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    <link:label id="lab_ftai_GainsLossesonExtinguishmentorRestructuringofDebt_7f0796e1-7ace-4ac2-8cf6-e79c1956f2d2_terseLabel_en-US" xlink:label="lab_ftai_GainsLossesonExtinguishmentorRestructuringofDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" 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_us-gaap_ComprehensiveIncomePolicyPolicyTextBlock_febd9d37-57c0-4501-b95a-f18ad93f310e_terseLabel_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomePolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Comprehensive Income (Loss)</link:label>
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    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_33ab24f9-1348-4aa1-8bf4-ac09b839fd18_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Options</link:label>
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    <link:label id="lab_us-gaap_SignificantAccountingPoliciesTextBlock_67bcce40-7f8d-4794-8e7e-3e3f1c61c685_terseLabel_en-US" xlink:label="lab_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</link:label>
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    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_23be1ab3-3291-4acf-99c4-7c97c2cbb643_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Less: exercised/vested (in dollars per share)</link:label>
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    <link:label id="lab_ftai_AircraftEnginesMember_6ef72eb6-5586-47c5-ae42-cc5a214881b3_terseLabel_en-US" xlink:label="lab_ftai_AircraftEnginesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Aircraft engines</link:label>
    <link:label id="lab_ftai_AircraftEnginesMember_label_en-US" xlink:label="lab_ftai_AircraftEnginesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Aircraft Engines [Member]</link:label>
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    <link:label id="lab_us-gaap_DeferredTaxAssetsNet_d9cc939c-3e78-443f-9058-57c202648904_totalLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net deferred tax assets</link:label>
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    <link:label id="lab_us-gaap_GuaranteeObligationsMaximumExposure_b91927f3-0943-4157-80aa-ad1b1bab40e8_terseLabel_en-US" xlink:label="lab_us-gaap_GuaranteeObligationsMaximumExposure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Guarantor obligations, Maximum exposure, undiscounted</link:label>
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    <link:label id="lab_us-gaap_Goodwill_9be9097b-6e95-45c5-b465-a9d31003d9a2_terseLabel_en-US" xlink:label="lab_us-gaap_Goodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Goodwill</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Goodwill" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_Goodwill"/>
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    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentTextBlock_f5315e7d-0e37-4aed-94ae-65e32c7f3a24_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Summary of Property, Plant and Equipment Useful Lives</link:label>
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    <link:label id="lab_us-gaap_StatementEquityComponentsAxis_label_en-US" xlink:label="lab_us-gaap_StatementEquityComponentsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Equity Components [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementEquityComponentsAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StatementEquityComponentsAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementEquityComponentsAxis" xlink:to="lab_us-gaap_StatementEquityComponentsAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationRevenue_cb653a72-6895-40df-a2c1-6745f138b9d5_terseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationRevenue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total revenues</link:label>
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    <link:label id="lab_dei_EntitySmallBusiness_2f489563-76f4-426e-962f-7022c69b6e01_terseLabel_en-US" xlink:label="lab_dei_EntitySmallBusiness" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Small Business</link:label>
    <link:label id="lab_dei_EntitySmallBusiness_label_en-US" xlink:label="lab_dei_EntitySmallBusiness" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Small Business</link:label>
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    <link:label id="lab_ftai_FalconMSN177LLCMember_938f83cb-a493-4bf2-8eb4-e9b9acce52fc_terseLabel_en-US" xlink:label="lab_ftai_FalconMSN177LLCMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Falcon MSN 177 LLC</link:label>
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    <link:label id="lab_dei_LocalPhoneNumber_1a53acc1-2ee7-42c8-a90c-f06c6e8b628f_terseLabel_en-US" xlink:label="lab_dei_LocalPhoneNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Local Phone Number</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_dei_LocalPhoneNumber" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_LocalPhoneNumber"/>
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    <link:label id="lab_us-gaap_IncreaseDecreaseInAccountsReceivable_0aad206f-aaed-4523-a415-aa58b1efbe4a_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Accounts receivable</link:label>
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    <link:label id="lab_us-gaap_LetterOfCreditMember_65aa9519-3193-40c6-9f32-483f4aac6be7_terseLabel_en-US" xlink:label="lab_us-gaap_LetterOfCreditMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Letter of Credit</link:label>
    <link:label id="lab_us-gaap_LetterOfCreditMember_label_en-US" xlink:label="lab_us-gaap_LetterOfCreditMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Letter of Credit [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LetterOfCreditMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LetterOfCreditMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LetterOfCreditMember" xlink:to="lab_us-gaap_LetterOfCreditMember" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_SubsidiariesMember_ed2d8107-a469-4dd1-aa6b-a7038222c9b9_verboseLabel_en-US" xlink:label="lab_srt_SubsidiariesMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Subsidiaries</link:label>
    <link:label id="lab_srt_SubsidiariesMember_label_en-US" xlink:label="lab_srt_SubsidiariesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Subsidiaries [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_SubsidiariesMember" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_SubsidiariesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_SubsidiariesMember" xlink:to="lab_srt_SubsidiariesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockDividendsPerShareDeclared_2e786bfe-9d6e-4b88-8648-85e92708d6e8_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockDividendsPerShareDeclared" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Common stock dividends declared (in dollars per share)</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockDividendsPerShareDeclared" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommonStockDividendsPerShareDeclared"/>
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    <link:label id="lab_us-gaap_AccountsReceivableMember_e601d1ab-82d2-4e9d-85b6-5e29a77cdf32_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsReceivableMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Accounts Receivable</link:label>
    <link:label id="lab_us-gaap_AccountsReceivableMember_label_en-US" xlink:label="lab_us-gaap_AccountsReceivableMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Accounts Receivable [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsReceivableMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AccountsReceivableMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsReceivableMember" xlink:to="lab_us-gaap_AccountsReceivableMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_MaintenanceDepositLiability_cbe80e2b-11ea-4ad1-9d5d-69f1b48c25b7_terseLabel_en-US" xlink:label="lab_ftai_MaintenanceDepositLiability" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Maintenance deposits</link:label>
    <link:label id="lab_ftai_MaintenanceDepositLiability_label_en-US" xlink:label="lab_ftai_MaintenanceDepositLiability" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Maintenance Deposit Liability</link:label>
    <link:label id="lab_ftai_MaintenanceDepositLiability_documentation_en-US" xlink:label="lab_ftai_MaintenanceDepositLiability" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Maintenance Deposit Liability</link:label>
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    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract_00d36cfa-ce0b-4ef2-95ab-f7d7ca607089_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAdditionalGeneralDisclosuresAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Stock Options</link:label>
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    <link:label id="lab_us-gaap_InterestPaidCapitalized_87d367b5-b485-41b9-a543-d3b204c61a52_terseLabel_en-US" xlink:label="lab_us-gaap_InterestPaidCapitalized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Interest paid, capitalized</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ftai_FairValueAdjustmentOfGuarantees" xlink:href="ftai-20231231.xsd#ftai_FairValueAdjustmentOfGuarantees"/>
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    <link:label id="lab_ftai_SeniorNotesDue2027Member_f38653b5-816d-4594-8c2c-94a98af92e1f_terseLabel_en-US" xlink:label="lab_ftai_SeniorNotesDue2027Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Senior Notes due 2027</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherExpenses" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherExpenses"/>
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    <link:label id="lab_dei_EntityFileNumber_label_en-US" xlink:label="lab_dei_EntityFileNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity File Number</link:label>
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    <link:label id="lab_us-gaap_LossContingenciesTable_b0e0a29f-5173-4aff-83b8-b932fbd95a63_terseLabel_en-US" xlink:label="lab_us-gaap_LossContingenciesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Loss Contingencies [Table]</link:label>
    <link:label id="lab_us-gaap_LossContingenciesTable_label_en-US" xlink:label="lab_us-gaap_LossContingenciesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Loss Contingencies [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LossContingenciesTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LossContingenciesTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LossContingenciesTable" xlink:to="lab_us-gaap_LossContingenciesTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OffMarketFavorableLeaseMember_9c1394e0-d883-4116-8be1-ce30f86fae29_terseLabel_en-US" xlink:label="lab_us-gaap_OffMarketFavorableLeaseMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Acquired favorable lease intangibles</link:label>
    <link:label id="lab_us-gaap_OffMarketFavorableLeaseMember_label_en-US" xlink:label="lab_us-gaap_OffMarketFavorableLeaseMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Off-Market Favorable Lease [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OffMarketFavorableLeaseMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OffMarketFavorableLeaseMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OffMarketFavorableLeaseMember" xlink:to="lab_us-gaap_OffMarketFavorableLeaseMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OperatingLossCarryforwardsLineItems_8a611957-e8d1-42c3-87f8-e9e225259bfc_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLossCarryforwardsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Operating Loss Carryforwards [Line Items]</link:label>
    <link:label id="lab_us-gaap_OperatingLossCarryforwardsLineItems_label_en-US" xlink:label="lab_us-gaap_OperatingLossCarryforwardsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Operating Loss Carryforwards [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLossCarryforwardsLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OperatingLossCarryforwardsLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLossCarryforwardsLineItems" xlink:to="lab_us-gaap_OperatingLossCarryforwardsLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentUnamortizedDiscount_947000de-cf03-4c85-9ba3-f6efb4f24719_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedDiscount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Unamortized discount</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentUnamortizedDiscount_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedDiscount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Debt Instrument, Unamortized Discount</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentUnamortizedDiscount" xlink:to="lab_us-gaap_DebtInstrumentUnamortizedDiscount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_3c30ab4c-1d9f-4b9b-8a32-8fb884e18030_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">2026</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Long-Term Debt, Maturity, Year Three</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree"/>
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    <link:label id="lab_ftai_ValuationAllowanceRollForward_118f5264-4c3a-4cff-8032-b8af54416ad3_terseLabel_en-US" xlink:label="lab_ftai_ValuationAllowanceRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Valuation Allowance [Roll Forward]</link:label>
    <link:label id="lab_ftai_ValuationAllowanceRollForward_label_en-US" xlink:label="lab_ftai_ValuationAllowanceRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Valuation Allowance [Roll Forward]</link:label>
    <link:label id="lab_ftai_ValuationAllowanceRollForward_documentation_en-US" xlink:label="lab_ftai_ValuationAllowanceRollForward" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Valuation Allowance [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_ValuationAllowanceRollForward" xlink:href="ftai-20231231.xsd#ftai_ValuationAllowanceRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_ValuationAllowanceRollForward" xlink:to="lab_ftai_ValuationAllowanceRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_PropertyPlantAndEquipmentExcludingLeasingEquipmentNet_86b75318-9140-4900-840a-b7559cd5c28b_terseLabel_en-US" xlink:label="lab_ftai_PropertyPlantAndEquipmentExcludingLeasingEquipmentNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Property, plant, and equipment, net</link:label>
    <link:label id="lab_ftai_PropertyPlantAndEquipmentExcludingLeasingEquipmentNet_label_en-US" xlink:label="lab_ftai_PropertyPlantAndEquipmentExcludingLeasingEquipmentNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Property, Plant and Equipment, Excluding Leasing Equipment, Net</link:label>
    <link:label id="lab_ftai_PropertyPlantAndEquipmentExcludingLeasingEquipmentNet_documentation_en-US" xlink:label="lab_ftai_PropertyPlantAndEquipmentExcludingLeasingEquipmentNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Property, Plant and Equipment, Excluding Leasing Equipment, Net</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_PropertyPlantAndEquipmentExcludingLeasingEquipmentNet" xlink:to="lab_ftai_PropertyPlantAndEquipmentExcludingLeasingEquipmentNet" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_AuditorFirmId_3677a348-1522-44fc-8480-29f33494b306_terseLabel_en-US" xlink:label="lab_dei_AuditorFirmId" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Auditor Firm ID</link:label>
    <link:label id="lab_dei_AuditorFirmId_label_en-US" xlink:label="lab_dei_AuditorFirmId" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Auditor Firm ID</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_AuditorFirmId" xlink:to="lab_dei_AuditorFirmId" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AmortizationOfIntangibleAssets_7a12828d-e519-461f-b312-695e08bdf59c_terseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Amortization of intangible assets</link:label>
    <link:label id="lab_us-gaap_AmortizationOfIntangibleAssets_label_en-US" xlink:label="lab_us-gaap_AmortizationOfIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Amortization of Intangible Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AmortizationOfIntangibleAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AmortizationOfIntangibleAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AmortizationOfIntangibleAssets" xlink:to="lab_us-gaap_AmortizationOfIntangibleAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_PaymentforSettlementofEquityBasedCompensation_a3d9bdb2-7941-479a-91de-288ebb596eea_negatedTerseLabel_en-US" xlink:label="lab_ftai_PaymentforSettlementofEquityBasedCompensation" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Settlement of equity-based compensation</link:label>
    <link:label id="lab_ftai_PaymentforSettlementofEquityBasedCompensation_label_en-US" xlink:label="lab_ftai_PaymentforSettlementofEquityBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payment for Settlement of Equity Based Compensation</link:label>
    <link:label id="lab_ftai_PaymentforSettlementofEquityBasedCompensation_documentation_en-US" xlink:label="lab_ftai_PaymentforSettlementofEquityBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payment for Settlement of Equity Based Compensation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_PaymentforSettlementofEquityBasedCompensation" xlink:href="ftai-20231231.xsd#ftai_PaymentforSettlementofEquityBasedCompensation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_PaymentforSettlementofEquityBasedCompensation" xlink:to="lab_ftai_PaymentforSettlementofEquityBasedCompensation" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityShellCompany_43d64e81-429b-42cb-a07d-490d98bb231a_terseLabel_en-US" xlink:label="lab_dei_EntityShellCompany" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Shell Company</link:label>
    <link:label id="lab_dei_EntityShellCompany_label_en-US" xlink:label="lab_dei_EntityShellCompany" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Shell Company</link:label>
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    <link:label id="lab_us-gaap_SeriesDPreferredStockMember_cfebf45d-140d-400b-a245-1d33203c5603_terseLabel_en-US" xlink:label="lab_us-gaap_SeriesDPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Series D Preferred Stock</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SeriesDPreferredStockMember" xlink:to="lab_us-gaap_SeriesDPreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BusinessAcquisitionAcquireeDomain_f7f63c02-3936-4b26-875d-74b40d23466d_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAcquireeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Business Acquisition, Acquiree [Domain]</link:label>
    <link:label id="lab_us-gaap_BusinessAcquisitionAcquireeDomain_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAcquireeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Business Acquisition, Acquiree [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BusinessAcquisitionAcquireeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain" xlink:to="lab_us-gaap_BusinessAcquisitionAcquireeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsForAdvanceToAffiliate_307ad78e-4299-45e1-816b-660dffec4ed0_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsForAdvanceToAffiliate" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Investment in unconsolidated entities</link:label>
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    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNet_31773045-7781-477e-8e01-7a676d019fcc_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total intangible assets</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentLineItems_23777d35-8cf9-45fa-8f7c-19557cd13ad9_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Property, Plant and Equipment [Line Items]</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentLineItems_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Property, Plant and Equipment [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PropertyPlantAndEquipmentLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_b5b91186-5d38-4bd8-808c-614428fe81e2_terseLabel_en-US" xlink:label="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Recent Accounting Pronouncements</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:to="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MinorityInterestInNetIncomeLossOfConsolidatedEntitiesAbstract_5f2a207d-494d-4748-a467-f4fadb7df2ea_terseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterestInNetIncomeLossOfConsolidatedEntitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Less: Net loss attributable to non-controlling interests in consolidated subsidiaries:</link:label>
    <link:label id="lab_us-gaap_MinorityInterestInNetIncomeLossOfConsolidatedEntitiesAbstract_label_en-US" xlink:label="lab_us-gaap_MinorityInterestInNetIncomeLossOfConsolidatedEntitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net Income (Loss) Attributable to Noncontrolling Interest [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterestInNetIncomeLossOfConsolidatedEntitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_MinorityInterestInNetIncomeLossOfConsolidatedEntitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterestInNetIncomeLossOfConsolidatedEntitiesAbstract" xlink:to="lab_us-gaap_MinorityInterestInNetIncomeLossOfConsolidatedEntitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest_0173f42e-c0d8-4e3d-9ec8-1ed8ccdb0645_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Discontinued operations</link:label>
    <link:label id="lab_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest_8d8ef5cb-1c15-4c57-9729-30983f2849ad_verboseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Less: Net loss attributable to non-controlling interests in consolidated subsidiaries</link:label>
    <link:label id="lab_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest" xlink:to="lab_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_1959dafc-7828-41c4-89b8-af46fdca1373_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other liabilities</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (Decrease) in Other Operating Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncreaseDecreaseInOtherOperatingLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:to="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_45699ee3-512c-4da0-8447-ef62cf1cc7bf_periodStartLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cash and cash equivalents and restricted cash, beginning of period</link:label>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_1d21db99-dd57-428e-816a-4b3e2c963180_periodEndLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cash and cash equivalents and restricted cash, end of period</link:label>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_label_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_e692074d-f7de-45c7-a443-c2dd4283eb18_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Less: Accumulated amortization</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Finite-Lived Intangible Assets, Accumulated Amortization</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_OneCustomerMember_80f0d7b3-a368-4ed3-bd12-5f4d09a012a0_terseLabel_en-US" xlink:label="lab_ftai_OneCustomerMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">One Customer</link:label>
    <link:label id="lab_ftai_OneCustomerMember_label_en-US" xlink:label="lab_ftai_OneCustomerMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">One Customer [Member]</link:label>
    <link:label id="lab_ftai_OneCustomerMember_documentation_en-US" xlink:label="lab_ftai_OneCustomerMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">One Customer</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_OneCustomerMember" xlink:href="ftai-20231231.xsd#ftai_OneCustomerMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_OneCustomerMember" xlink:to="lab_ftai_OneCustomerMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_7726be03-0292-4034-a1d1-d25859a774c3_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Accounts payable and accrued liabilities</link:label>
    <link:label id="lab_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_label_en-US" xlink:label="lab_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Accounts Payable and Accrued Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent" xlink:to="lab_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SaleOfStockPricePerShare_9ce2275f-5d3b-4dd7-881f-7442fdd64360_terseLabel_en-US" xlink:label="lab_us-gaap_SaleOfStockPricePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Price per share (usd per share)</link:label>
    <link:label id="lab_us-gaap_SaleOfStockPricePerShare_label_en-US" xlink:label="lab_us-gaap_SaleOfStockPricePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Sale of Stock, Price Per Share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SaleOfStockPricePerShare" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SaleOfStockPricePerShare"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SaleOfStockPricePerShare" xlink:to="lab_us-gaap_SaleOfStockPricePerShare" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LoansPayableMember_aa5ed5d0-1c70-4a34-a839-e687e629f56d_terseLabel_en-US" xlink:label="lab_us-gaap_LoansPayableMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Loans payable</link:label>
    <link:label id="lab_us-gaap_LoansPayableMember_label_en-US" xlink:label="lab_us-gaap_LoansPayableMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Loans Payable [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LoansPayableMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LoansPayableMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansPayableMember" xlink:to="lab_us-gaap_LoansPayableMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_MajorAccountsReceivableCustomerCustomerTwoMember_13dded52-4786-4f4b-8c1f-0de186e91ce1_terseLabel_en-US" xlink:label="lab_ftai_MajorAccountsReceivableCustomerCustomerTwoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Major Accounts Receivable Customer, Customer Two</link:label>
    <link:label id="lab_ftai_MajorAccountsReceivableCustomerCustomerTwoMember_label_en-US" xlink:label="lab_ftai_MajorAccountsReceivableCustomerCustomerTwoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Major Accounts Receivable Customer, Customer Two [Member]</link:label>
    <link:label id="lab_ftai_MajorAccountsReceivableCustomerCustomerTwoMember_documentation_en-US" xlink:label="lab_ftai_MajorAccountsReceivableCustomerCustomerTwoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Major Accounts Receivable Customer, Customer Two [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_MajorAccountsReceivableCustomerCustomerTwoMember" xlink:href="ftai-20231231.xsd#ftai_MajorAccountsReceivableCustomerCustomerTwoMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_MajorAccountsReceivableCustomerCustomerTwoMember" xlink:to="lab_ftai_MajorAccountsReceivableCustomerCustomerTwoMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockSharesIssued_ec08c8f6-ddb5-4979-819e-b4a76f899ccd_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Common stock, shares issued (in shares)</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesIssued_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Common Stock, Shares, Issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockSharesIssued" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommonStockSharesIssued"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesIssued" xlink:to="lab_us-gaap_CommonStockSharesIssued" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_692bd178-11c3-4f3c-81ec-be75dcf2142e_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Less: exercised/vested (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:type="arc" order="1"/>
    <link:label id="lab_country_BM_b7fae7b0-dedf-46c5-aa0b-395016f3f9ac_terseLabel_en-US" xlink:label="lab_country_BM" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bermuda</link:label>
    <link:label id="lab_country_BM_label_en-US" xlink:label="lab_country_BM" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">BERMUDA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_country_BM" xlink:href="https://xbrl.sec.gov/country/2023/country-2023.xsd#country_BM"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_BM" xlink:to="lab_country_BM" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LineOfCreditFacilityCommitmentFeePercentage_4180ab71-65c8-443a-9a2e-c25c44c64d5a_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityCommitmentFeePercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Commitment fee rate</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityCommitmentFeePercentage_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityCommitmentFeePercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Line of Credit Facility, Commitment Fee Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LineOfCreditFacilityCommitmentFeePercentage" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LineOfCreditFacilityCommitmentFeePercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityCommitmentFeePercentage" xlink:to="lab_us-gaap_LineOfCreditFacilityCommitmentFeePercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_d0d01e8c-7996-40b9-a663-12720af68ce7_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions</link:label>
    <link:label id="lab_us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock"/>
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    <link:label id="lab_us-gaap_LongTermDebt_5ab41c99-46f6-49f4-91e8-aa324692da7d_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Debt, net</link:label>
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    <link:label id="lab_us-gaap_CommonClassAMember_052e088c-5533-4dc4-98ee-49ac0004e39a_terseLabel_en-US" xlink:label="lab_us-gaap_CommonClassAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Ordinary shares, $0.01 par value per share</link:label>
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    <link:label id="lab_us-gaap_CostsAndExpenses_2d8279fc-75a9-49f1-a478-932a9d5b11c6_totalLabel_en-US" xlink:label="lab_us-gaap_CostsAndExpenses" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total expenses</link:label>
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    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTax_528a3b05-f8e5-4c95-82b3-e6139fbecd6f_totalLabel_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTax" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Comprehensive income (loss) attributable to shareholders</link:label>
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    <link:label id="lab_dei_EntityAddressAddressLine1_c16d1fcb-217a-41ec-8419-19a19367c6f8_terseLabel_en-US" xlink:label="lab_dei_EntityAddressAddressLine1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Address, Address Line One</link:label>
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    <link:label id="lab_ftai_EquipmentLeaseIncomeMember_24ac9aed-f742-4a8a-b142-3c741a8c6703_terseLabel_en-US" xlink:label="lab_ftai_EquipmentLeaseIncomeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Equipment Lease income</link:label>
    <link:label id="lab_ftai_EquipmentLeaseIncomeMember_label_en-US" xlink:label="lab_ftai_EquipmentLeaseIncomeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Equipment Lease income [Member]</link:label>
    <link:label id="lab_ftai_EquipmentLeaseIncomeMember_documentation_en-US" xlink:label="lab_ftai_EquipmentLeaseIncomeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Equipment Lease income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_EquipmentLeaseIncomeMember" xlink:href="ftai-20231231.xsd#ftai_EquipmentLeaseIncomeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_EquipmentLeaseIncomeMember" xlink:to="lab_ftai_EquipmentLeaseIncomeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_bcea7088-f27d-44af-8def-55f8a42d2ddd_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Thereafter</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Long-Term Debt, Maturity, after Year Five</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive"/>
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    <link:label id="lab_us-gaap_InventoryPolicyTextBlock_832df5a3-146e-49bc-a890-3f1b1d2419f2_terseLabel_en-US" xlink:label="lab_us-gaap_InventoryPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Inventory</link:label>
    <link:label id="lab_us-gaap_InventoryPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_InventoryPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Inventory, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InventoryPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InventoryPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InventoryPolicyTextBlock" xlink:to="lab_us-gaap_InventoryPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_CumulativePreferredReturnPercentage_7887e382-e429-44da-8156-1dd9ee708f9a_terseLabel_en-US" xlink:label="lab_ftai_CumulativePreferredReturnPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cumulative preferred return</link:label>
    <link:label id="lab_ftai_CumulativePreferredReturnPercentage_label_en-US" xlink:label="lab_ftai_CumulativePreferredReturnPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cumulative Preferred Return Percentage</link:label>
    <link:label id="lab_ftai_CumulativePreferredReturnPercentage_documentation_en-US" xlink:label="lab_ftai_CumulativePreferredReturnPercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cumulative Preferred Return Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_CumulativePreferredReturnPercentage" xlink:href="ftai-20231231.xsd#ftai_CumulativePreferredReturnPercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_CumulativePreferredReturnPercentage" xlink:to="lab_ftai_CumulativePreferredReturnPercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_PaymentsforDepositsonSaleofMachineryandEquipment_9c05d65b-1bb0-4d0b-a093-ee3dcf5de2fc_negatedTerseLabel_en-US" xlink:label="lab_ftai_PaymentsforDepositsonSaleofMachineryandEquipment" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Return of purchase deposits</link:label>
    <link:label id="lab_ftai_PaymentsforDepositsonSaleofMachineryandEquipment_label_en-US" xlink:label="lab_ftai_PaymentsforDepositsonSaleofMachineryandEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments for Deposits on Sale of Machinery and Equipment</link:label>
    <link:label id="lab_ftai_PaymentsforDepositsonSaleofMachineryandEquipment_documentation_en-US" xlink:label="lab_ftai_PaymentsforDepositsonSaleofMachineryandEquipment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments for Deposits on Sale of Machinery and Equipment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_PaymentsforDepositsonSaleofMachineryandEquipment" xlink:href="ftai-20231231.xsd#ftai_PaymentsforDepositsonSaleofMachineryandEquipment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_PaymentsforDepositsonSaleofMachineryandEquipment" xlink:to="lab_ftai_PaymentsforDepositsonSaleofMachineryandEquipment" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsequentEventTable_4725c214-63a2-4e33-a5f7-e5dfeb73f8cf_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Subsequent Event [Table]</link:label>
    <link:label id="lab_us-gaap_SubsequentEventTable_label_en-US" xlink:label="lab_us-gaap_SubsequentEventTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Subsequent Event [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SubsequentEventTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventTable" xlink:to="lab_us-gaap_SubsequentEventTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_27771caf-fdd1-48b9-866b-98a7e73d0f4b_terseLabel_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">EQUITY-BASED COMPENSATION</link:label>
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_label_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share-Based Payment Arrangement [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:to="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CurrentFederalTaxExpenseBenefit_86023f95-15b8-421c-8821-5b27fdbeed6c_terseLabel_en-US" xlink:label="lab_us-gaap_CurrentFederalTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Federal</link:label>
    <link:label id="lab_us-gaap_CurrentFederalTaxExpenseBenefit_label_en-US" xlink:label="lab_us-gaap_CurrentFederalTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current Federal Tax Expense (Benefit)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CurrentFederalTaxExpenseBenefit" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CurrentFederalTaxExpenseBenefit"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CurrentFederalTaxExpenseBenefit" xlink:to="lab_us-gaap_CurrentFederalTaxExpenseBenefit" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_0ee0b97b-354e-429c-b3f8-99f7b63ef278_terseLabel_en-US" xlink:label="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Basis of Accounting</link:label>
    <link:label id="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Basis of Accounting, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BasisOfAccountingPolicyPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:to="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_EquipmentLeasingRevenuesMember_841d3d0c-4eeb-45e7-b574-69c9d96bef29_terseLabel_en-US" xlink:label="lab_ftai_EquipmentLeasingRevenuesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Lease income</link:label>
    <link:label id="lab_ftai_EquipmentLeasingRevenuesMember_label_en-US" xlink:label="lab_ftai_EquipmentLeasingRevenuesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Equipment Leasing Revenues [Member]</link:label>
    <link:label id="lab_ftai_EquipmentLeasingRevenuesMember_documentation_en-US" xlink:label="lab_ftai_EquipmentLeasingRevenuesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Equipment Leasing Revenues [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_EquipmentLeasingRevenuesMember" xlink:href="ftai-20231231.xsd#ftai_EquipmentLeasingRevenuesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_EquipmentLeasingRevenuesMember" xlink:to="lab_ftai_EquipmentLeasingRevenuesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward_3060e41d-5368-4908-9a9e-fb0677d11216_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Weighted Average Exercise Price</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock_a0570c11-f833-4149-84f6-ac323738f419_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cash dividends - preferred shares</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:to="lab_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_OtherAssetsFinanceLeasesNet_b26127ce-fd05-450e-b2f5-a2d18716c1de_terseLabel_en-US" xlink:label="lab_ftai_OtherAssetsFinanceLeasesNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Finance leases, net</link:label>
    <link:label id="lab_ftai_OtherAssetsFinanceLeasesNet_label_en-US" xlink:label="lab_ftai_OtherAssetsFinanceLeasesNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Assets, Finance Leases, Net</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ftai_OtherAssetsFinanceLeasesNet" xlink:href="ftai-20231231.xsd#ftai_OtherAssetsFinanceLeasesNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_OtherAssetsFinanceLeasesNet" xlink:to="lab_ftai_OtherAssetsFinanceLeasesNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BusinessAcquisitionAxis_4e40e616-9378-43a0-a09f-ab0d1978f78d_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Business Acquisition [Axis]</link:label>
    <link:label id="lab_us-gaap_BusinessAcquisitionAxis_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Business Acquisition [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessAcquisitionAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BusinessAcquisitionAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionAxis" xlink:to="lab_us-gaap_BusinessAcquisitionAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsequentEventMember_4119b632-b748-4d5b-af3d-36b17508f56f_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Subsequent Event</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SubsequentEventMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventMember" xlink:to="lab_us-gaap_SubsequentEventMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityMethodInvestmentsFairValueDisclosure_48582a42-ab57-40e7-ba23-aecfbf04b388_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Equity method investment, fair value</link:label>
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    <link:label id="lab_us-gaap_EquityMethodInvestments_c22c3201-81cd-42e3-9857-8c11addf0ea8_verboseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Carrying value of investment</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestments" xlink:to="lab_us-gaap_EquityMethodInvestments" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CurrentFederalStateAndLocalTaxExpenseBenefitAbstract_43d9131a-60ab-4c2b-bda3-083d30bf49c7_terseLabel_en-US" xlink:label="lab_us-gaap_CurrentFederalStateAndLocalTaxExpenseBenefitAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">United States:</link:label>
    <link:label id="lab_us-gaap_CurrentFederalStateAndLocalTaxExpenseBenefitAbstract_label_en-US" xlink:label="lab_us-gaap_CurrentFederalStateAndLocalTaxExpenseBenefitAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current Federal, State and Local, Tax Expense (Benefit) [Abstract]</link:label>
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    <link:label id="lab_us-gaap_BelowMarketLeaseNet_dbbe461c-fb5d-442a-9d49-4db0d885e3c2_totalLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Acquired unfavorable lease intangibles, net</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseNet" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BelowMarketLeaseNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseNet" xlink:to="lab_us-gaap_BelowMarketLeaseNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InventoryNet_26b698f6-5c22-4258-ace2-1f5de3430228_terseLabel_en-US" xlink:label="lab_us-gaap_InventoryNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Inventory, net</link:label>
    <link:label id="lab_us-gaap_InventoryNet_label_en-US" xlink:label="lab_us-gaap_InventoryNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Inventory, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InventoryNet" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InventoryNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InventoryNet" xlink:to="lab_us-gaap_InventoryNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CostOfPropertyRepairsAndMaintenance_b7f4a777-1f45-4b45-9cc1-abadd13cd91c_terseLabel_en-US" xlink:label="lab_us-gaap_CostOfPropertyRepairsAndMaintenance" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cost of property repairs and maintenance</link:label>
    <link:label id="lab_us-gaap_CostOfPropertyRepairsAndMaintenance_label_en-US" xlink:label="lab_us-gaap_CostOfPropertyRepairsAndMaintenance" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cost of Property Repairs and Maintenance</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CostOfPropertyRepairsAndMaintenance" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CostOfPropertyRepairsAndMaintenance"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CostOfPropertyRepairsAndMaintenance" xlink:to="lab_us-gaap_CostOfPropertyRepairsAndMaintenance" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationOperatingExpense_83f4d654-24d3-4357-b26a-c22291b5dcf4_terseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationOperatingExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Operating expense</link:label>
    <link:label id="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationOperatingExpense_label_en-US" xlink:label="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationOperatingExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disposal Group, Including Discontinued Operation, Operating Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DisposalGroupIncludingDiscontinuedOperationOperatingExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationOperatingExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisposalGroupIncludingDiscontinuedOperationOperatingExpense" xlink:to="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationOperatingExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DeferredTaxAssetsInventory_09abff1c-6122-4755-8e90-66317af637e7_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsInventory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Inventory</link:label>
    <link:label id="lab_us-gaap_DeferredTaxAssetsInventory_label_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsInventory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred Tax Assets, Inventory</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsInventory" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DeferredTaxAssetsInventory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsInventory" xlink:to="lab_us-gaap_DeferredTaxAssetsInventory" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LandMember_013ebdb8-c9e6-45c8-9dec-2aa30e1a4fe2_terseLabel_en-US" xlink:label="lab_us-gaap_LandMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Land</link:label>
    <link:label id="lab_us-gaap_LandMember_label_en-US" xlink:label="lab_us-gaap_LandMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Land [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LandMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LandMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LandMember" xlink:to="lab_us-gaap_LandMember" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RangeAxis_95be28ce-7520-483d-8e77-96c15d14db3b_terseLabel_en-US" xlink:label="lab_srt_RangeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Range [Axis]</link:label>
    <link:label id="lab_srt_RangeAxis_label_en-US" xlink:label="lab_srt_RangeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Statistical Measurement [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RangeAxis" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_RangeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RangeAxis" xlink:to="lab_srt_RangeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BalanceSheetLocationDomain_b27385da-c2c3-48b8-89da-5d3fb8e05c0e_terseLabel_en-US" xlink:label="lab_us-gaap_BalanceSheetLocationDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Balance Sheet Location [Domain]</link:label>
    <link:label id="lab_us-gaap_BalanceSheetLocationDomain_label_en-US" xlink:label="lab_us-gaap_BalanceSheetLocationDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Balance Sheet Location [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BalanceSheetLocationDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BalanceSheetLocationDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BalanceSheetLocationDomain" xlink:to="lab_us-gaap_BalanceSheetLocationDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock_c9c73f1f-30b8-42ef-93ab-51d66e91c33b_terseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">DISCONTINUED OPERATIONS</link:label>
    <link:label id="lab_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock" xlink:to="lab_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SegmentOperatingActivitiesDomain_1392ae25-11a2-4976-89d3-6f59edad7f3c_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentOperatingActivitiesDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Operating Activities [Domain]</link:label>
    <link:label id="lab_us-gaap_SegmentOperatingActivitiesDomain_label_en-US" xlink:label="lab_us-gaap_SegmentOperatingActivitiesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Operating Activities [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SegmentOperatingActivitiesDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SegmentOperatingActivitiesDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentOperatingActivitiesDomain" xlink:to="lab_us-gaap_SegmentOperatingActivitiesDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityInteractiveDataCurrent_25b3475d-422c-4f35-a211-c70e17346a1e_terseLabel_en-US" xlink:label="lab_dei_EntityInteractiveDataCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Interactive Data Current</link:label>
    <link:label id="lab_dei_EntityInteractiveDataCurrent_label_en-US" xlink:label="lab_dei_EntityInteractiveDataCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Interactive Data Current</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityInteractiveDataCurrent" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityInteractiveDataCurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityInteractiveDataCurrent" xlink:to="lab_dei_EntityInteractiveDataCurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets_1f0f3426-8917-4000-8dbd-399ac4cab948_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other assets</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets" xlink:to="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_AccountingPoliciesLineItems_b9c72151-5fd3-4a64-abd7-a1d199678f8b_terseLabel_en-US" xlink:label="lab_ftai_AccountingPoliciesLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Accounting Policies [Line Items]</link:label>
    <link:label id="lab_ftai_AccountingPoliciesLineItems_label_en-US" xlink:label="lab_ftai_AccountingPoliciesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Accounting Policies [Line Items]</link:label>
    <link:label id="lab_ftai_AccountingPoliciesLineItems_documentation_en-US" xlink:label="lab_ftai_AccountingPoliciesLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">[Line Items] for Accounting Policies [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_AccountingPoliciesLineItems" xlink:href="ftai-20231231.xsd#ftai_AccountingPoliciesLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_AccountingPoliciesLineItems" xlink:to="lab_ftai_AccountingPoliciesLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_ProceedsFromDividendsOnDivestitureOfBusiness_c4033f7d-f2d2-41df-be2b-a8295bf47c49_terseLabel_en-US" xlink:label="lab_ftai_ProceedsFromDividendsOnDivestitureOfBusiness" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dividend from spin-off of FTAI Infrastructure, net of cash transferred</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ftai_ProceedsFromDividendsOnDivestitureOfBusiness" xlink:href="ftai-20231231.xsd#ftai_ProceedsFromDividendsOnDivestitureOfBusiness"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_ProceedsFromDividendsOnDivestitureOfBusiness" xlink:to="lab_ftai_ProceedsFromDividendsOnDivestitureOfBusiness" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_OtherAssetsLeaseIncentives_2973114a-4997-43a3-ace2-c65d089552bb_terseLabel_en-US" xlink:label="lab_ftai_OtherAssetsLeaseIncentives" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Lease incentive receivable</link:label>
    <link:label id="lab_ftai_OtherAssetsLeaseIncentives_label_en-US" xlink:label="lab_ftai_OtherAssetsLeaseIncentives" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Assets, Lease Incentives</link:label>
    <link:label id="lab_ftai_OtherAssetsLeaseIncentives_documentation_en-US" xlink:label="lab_ftai_OtherAssetsLeaseIncentives" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Assets, Lease Incentives</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_OtherAssetsLeaseIncentives" xlink:href="ftai-20231231.xsd#ftai_OtherAssetsLeaseIncentives"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_OtherAssetsLeaseIncentives" xlink:to="lab_ftai_OtherAssetsLeaseIncentives" xlink:type="arc" order="1"/>
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    <link:label id="lab_us-gaap_LeasesAbstract_4f488a57-7efc-4c59-83fd-6ea79ffb76cd_terseLabel_en-US" xlink:label="lab_us-gaap_LeasesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Leases [Abstract]</link:label>
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    <link:label id="lab_us-gaap_EquityMethodInvestmentNonconsolidatedInvesteeDomain_59bb478c-e631-444f-9a47-bc4d9bf122a0_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentNonconsolidatedInvesteeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Equity Method Investment, Nonconsolidated Investee [Domain]</link:label>
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    <link:label id="lab_us-gaap_ComponentsOfDeferredTaxAssetsAbstract_1e7dc98e-1599-4abf-9feb-3d86ac593f39_terseLabel_en-US" xlink:label="lab_us-gaap_ComponentsOfDeferredTaxAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred tax assets:</link:label>
    <link:label id="lab_us-gaap_ComponentsOfDeferredTaxAssetsAbstract_label_en-US" xlink:label="lab_us-gaap_ComponentsOfDeferredTaxAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Components of Deferred Tax Assets [Abstract]</link:label>
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    <link:label id="lab_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Deferred Tax Assets and Liabilities [Table Text Block]</link:label>
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    <link:label id="lab_dei_EntityAddressStateOrProvince_649394d6-f73c-4588-b384-8fce32a257d7_terseLabel_en-US" xlink:label="lab_dei_EntityAddressStateOrProvince" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Address, State or Province</link:label>
    <link:label id="lab_dei_EntityAddressStateOrProvince_label_en-US" xlink:label="lab_dei_EntityAddressStateOrProvince" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Address, State or Province</link:label>
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    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_87d87a12-8518-4567-8803-4a74bea7e599_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cash flows from operating activities:</link:label>
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    <link:label id="lab_ftai_NoncashOrPartNoncashAcquisitionSecurityDepositsMaintenanceDepositsOtherAssetsAndOtherLiabilitiesSettled_5249b36d-c3a1-43b6-8a97-41eaa19ee834_terseLabel_en-US" xlink:label="lab_ftai_NoncashOrPartNoncashAcquisitionSecurityDepositsMaintenanceDepositsOtherAssetsAndOtherLiabilitiesSettled" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Security deposits, maintenance deposits, other assets and other liabilities settled in the sale of leasing equipment</link:label>
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    <link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsPerBasicShare_8afe2d0a-07b3-4628-91ff-8f9b29abb880_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsPerBasicShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Continuing operations (usd per share)</link:label>
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    <link:label id="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_9e8f6e39-42c0-4467-818c-944d2c8a9bdf_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Related Party Transactions, by Related Party [Table]</link:label>
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    <link:label id="lab_ftai_RelatedPartyTransactionManagementFeePercentFee_ac2731e3-e95b-4613-a161-c1d39ea66af0_terseLabel_en-US" xlink:label="lab_ftai_RelatedPartyTransactionManagementFeePercentFee" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Management fee percentage rate</link:label>
    <link:label id="lab_ftai_RelatedPartyTransactionManagementFeePercentFee_label_en-US" xlink:label="lab_ftai_RelatedPartyTransactionManagementFeePercentFee" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party Transaction, Management Fee, Percent Fee</link:label>
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    <link:label id="lab_us-gaap_BelowMarketLeaseAbstract_6dc3a498-c092-4abd-a6b1-75ae6dd7f5b2_terseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Intangible liabilities</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAbstract_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Below Market Lease [Abstract]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseAbstract" xlink:to="lab_us-gaap_BelowMarketLeaseAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock_39817687-1773-4697-abea-60548050a3e2_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Stock-based Compensation Arrangements</link:label>
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    <link:label id="lab_us-gaap_CommonStockSharesOutstanding_50f5f875-da53-46e8-9187-0c1abc24657c_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Common stock, shares outstanding (in shares)</link:label>
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    <link:label id="lab_us-gaap_EarningsPerShareBasicAbstract_301a3992-78b9-4480-92bc-07fc94a5656a_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasicAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Basic</link:label>
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    <link:label id="lab_us-gaap_OtherIncomeAndExpensesAbstract_abdd4e03-b485-4610-971d-6c70b1398560_terseLabel_en-US" xlink:label="lab_us-gaap_OtherIncomeAndExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other income (expense)</link:label>
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    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock_cb6fd813-1916-48fd-842b-709a01e10b85_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Summary of Contracted Minimum Future Annual Revenues</link:label>
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    <link:label id="lab_us-gaap_ConcentrationRiskCreditRisk_868c78d8-566c-490e-98e8-fb7823a92422_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskCreditRisk" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Concentration of Credit Risk</link:label>
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    <link:label id="lab_us-gaap_OciEquityMethodInvestmentAfterTax_2d7e3fc5-43f1-4a15-87eb-a2e58fe6ca7f_terseLabel_en-US" xlink:label="lab_us-gaap_OciEquityMethodInvestmentAfterTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other comprehensive income related to equity method investees, net, in discontinued operations</link:label>
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    <link:label id="lab_dei_AuditorLocation_d2b8c8c2-2c00-49cb-a758-e54de779ad28_terseLabel_en-US" xlink:label="lab_dei_AuditorLocation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Auditor Location</link:label>
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    <link:label id="lab_us-gaap_OtherCostAndExpenseOperating_d57c570a-48ca-4cce-99d6-cf034c395567_terseLabel_en-US" xlink:label="lab_us-gaap_OtherCostAndExpenseOperating" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Operating expenses</link:label>
    <link:label id="lab_us-gaap_OtherCostAndExpenseOperating_label_en-US" xlink:label="lab_us-gaap_OtherCostAndExpenseOperating" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Cost and Expense, Operating</link:label>
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    <link:label id="lab_us-gaap_OtherOperatingActivitiesCashFlowStatement_c076e9dc-1d15-4cda-8357-b0861f0f5fbe_terseLabel_en-US" xlink:label="lab_us-gaap_OtherOperatingActivitiesCashFlowStatement" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other</link:label>
    <link:label id="lab_us-gaap_OtherOperatingActivitiesCashFlowStatement_label_en-US" xlink:label="lab_us-gaap_OtherOperatingActivitiesCashFlowStatement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Operating Activities, Cash Flow Statement</link:label>
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    <link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest</link:label>
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    <link:label id="lab_ftai_AcquiredLeasesMember_7fdd8497-993f-4fc0-9f9b-6201397af699_terseLabel_en-US" xlink:label="lab_ftai_AcquiredLeasesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Acquired Leases</link:label>
    <link:label id="lab_ftai_AcquiredLeasesMember_label_en-US" xlink:label="lab_ftai_AcquiredLeasesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Acquired Leases [Member]</link:label>
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    <link:label id="lab_ftai_LeaseIncentivesAndAmortizationPolicyTextBlock_85650eae-b153-4d8d-9661-00e3b7f5a270_terseLabel_en-US" xlink:label="lab_ftai_LeaseIncentivesAndAmortizationPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Lease Incentives and Amortization</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_LeaseIncentivesAndAmortizationPolicyTextBlock" xlink:to="lab_ftai_LeaseIncentivesAndAmortizationPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockParOrStatedValuePerShare_9c60a4bb-87af-4092-9f5a-da43906187f6_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Common stock, par value (usd per share)</link:label>
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    <link:label id="lab_srt_SouthAmericaMember_ce864208-b8d5-41ef-9499-33b7fd090c41_terseLabel_en-US" xlink:label="lab_srt_SouthAmericaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">South America</link:label>
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    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_98559fc2-b92d-4590-a3f0-7b0b6012ea34_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net cash used in investing activities</link:label>
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    <link:label id="lab_us-gaap_ClassOfStockDomain_37a92edf-1192-4558-b5c0-e266808d9df1_terseLabel_en-US" xlink:label="lab_us-gaap_ClassOfStockDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Class of Stock [Domain]</link:label>
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    <link:label id="lab_us-gaap_BelowMarketLeaseGross_b6ca7a17-6168-4fc2-9ae3-ce64334a7ad8_terseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseGross" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Acquired unfavorable lease intangibles</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseGross" xlink:to="lab_us-gaap_BelowMarketLeaseGross" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_NameOfMajorCustomerDomain_14ba9cff-2400-4871-a762-92f007f4b8b1_terseLabel_en-US" xlink:label="lab_srt_NameOfMajorCustomerDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Customer [Domain]</link:label>
    <link:label id="lab_srt_NameOfMajorCustomerDomain_label_en-US" xlink:label="lab_srt_NameOfMajorCustomerDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Customer [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_NameOfMajorCustomerDomain" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_NameOfMajorCustomerDomain"/>
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    <link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_4d167c7e-7d7b-4c1c-95a8-9058012ad3bd_totalLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net income (loss) attributable to shareholders</link:label>
    <link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_label_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net Income (Loss) Available to Common Stockholders, Basic</link:label>
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    <link:label id="lab_us-gaap_RelatedPartyTransactionDomain_262488ed-0d22-4774-9c02-d5dd8302f107_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party Transaction [Domain]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionDomain_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party Transaction [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RelatedPartyTransactionDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionDomain" xlink:to="lab_us-gaap_RelatedPartyTransactionDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain_b608c3a0-d366-4b30-a2b6-d8db0aa84027_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Property, Plant and Equipment, Type [Domain]</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Long-Lived Tangible Asset [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherIncomeDisclosureNonoperatingAbstract_86cd13a2-2044-4e27-b6d8-92485e28f4fb_terseLabel_en-US" xlink:label="lab_us-gaap_OtherIncomeDisclosureNonoperatingAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other income (expense)</link:label>
    <link:label id="lab_us-gaap_OtherIncomeDisclosureNonoperatingAbstract_label_en-US" xlink:label="lab_us-gaap_OtherIncomeDisclosureNonoperatingAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Income, Nonoperating [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherIncomeDisclosureNonoperatingAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherIncomeDisclosureNonoperatingAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherIncomeDisclosureNonoperatingAbstract" xlink:to="lab_us-gaap_OtherIncomeDisclosureNonoperatingAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_MajorAccountsReceivableCustomerCustomerOneMember_b74ef4c3-5c46-4625-ac16-1a2445959662_terseLabel_en-US" xlink:label="lab_ftai_MajorAccountsReceivableCustomerCustomerOneMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Major Accounts Receivable Customer, Customer One</link:label>
    <link:label id="lab_ftai_MajorAccountsReceivableCustomerCustomerOneMember_label_en-US" xlink:label="lab_ftai_MajorAccountsReceivableCustomerCustomerOneMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Major Accounts Receivable Customer, Customer One [Member]</link:label>
    <link:label id="lab_ftai_MajorAccountsReceivableCustomerCustomerOneMember_documentation_en-US" xlink:label="lab_ftai_MajorAccountsReceivableCustomerCustomerOneMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Major Accounts Receivable Customer, Customer One [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_MajorAccountsReceivableCustomerCustomerOneMember" xlink:href="ftai-20231231.xsd#ftai_MajorAccountsReceivableCustomerCustomerOneMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_MajorAccountsReceivableCustomerCustomerOneMember" xlink:to="lab_ftai_MajorAccountsReceivableCustomerCustomerOneMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NumberOfReportableSegments_3ddc9697-4927-417a-9f85-d886e891240d_terseLabel_en-US" xlink:label="lab_us-gaap_NumberOfReportableSegments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of reportable segments</link:label>
    <link:label id="lab_us-gaap_NumberOfReportableSegments_label_en-US" xlink:label="lab_us-gaap_NumberOfReportableSegments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of Reportable Segments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NumberOfReportableSegments" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NumberOfReportableSegments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NumberOfReportableSegments" xlink:to="lab_us-gaap_NumberOfReportableSegments" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_AdjustedNetIncomeLossAttributabletoNonControllingInterest_30e0b752-1222-4d3b-9fae-4a2e1ff61148_terseLabel_en-US" xlink:label="lab_ftai_AdjustedNetIncomeLossAttributabletoNonControllingInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Add: Non-controlling share of Adjusted EBITDA</link:label>
    <link:label id="lab_ftai_AdjustedNetIncomeLossAttributabletoNonControllingInterest_label_en-US" xlink:label="lab_ftai_AdjustedNetIncomeLossAttributabletoNonControllingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Adjusted Net Income (Loss) Attributable to Non-Controlling Interest</link:label>
    <link:label id="lab_ftai_AdjustedNetIncomeLossAttributabletoNonControllingInterest_documentation_en-US" xlink:label="lab_ftai_AdjustedNetIncomeLossAttributabletoNonControllingInterest" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Adjusted Net Income (Loss) Attributable to Non-Controlling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_AdjustedNetIncomeLossAttributabletoNonControllingInterest" xlink:href="ftai-20231231.xsd#ftai_AdjustedNetIncomeLossAttributabletoNonControllingInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_AdjustedNetIncomeLossAttributabletoNonControllingInterest" xlink:to="lab_ftai_AdjustedNetIncomeLossAttributabletoNonControllingInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EarningsPerShareAbstract_a55d46b5-fe4e-4b85-8f09-0373a2634ef5_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Earnings (loss) per share:</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareAbstract_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Earnings Per Share [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerShareAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EarningsPerShareAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareAbstract" xlink:to="lab_us-gaap_EarningsPerShareAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsequentEventLineItems_bd0b57b7-2c92-4275-80b7-aec5b7c2fb17_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Subsequent Event [Line Items]</link:label>
    <link:label id="lab_us-gaap_SubsequentEventLineItems_label_en-US" xlink:label="lab_us-gaap_SubsequentEventLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Subsequent Event [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SubsequentEventLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventLineItems" xlink:to="lab_us-gaap_SubsequentEventLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_IntangibleAssetsandLiabilitiesDisclosureTextBlock_cc089617-0bed-4e32-9b20-905600f791ca_terseLabel_en-US" xlink:label="lab_ftai_IntangibleAssetsandLiabilitiesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">INTANGIBLE ASSETS AND LIABILITIES, NET</link:label>
    <link:label id="lab_ftai_IntangibleAssetsandLiabilitiesDisclosureTextBlock_label_en-US" xlink:label="lab_ftai_IntangibleAssetsandLiabilitiesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Intangible Assets and Liabilities Disclosure [Text Block]</link:label>
    <link:label id="lab_ftai_IntangibleAssetsandLiabilitiesDisclosureTextBlock_documentation_en-US" xlink:label="lab_ftai_IntangibleAssetsandLiabilitiesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Intangible Assets and Liabilities Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_IntangibleAssetsandLiabilitiesDisclosureTextBlock" xlink:href="ftai-20231231.xsd#ftai_IntangibleAssetsandLiabilitiesDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_IntangibleAssetsandLiabilitiesDisclosureTextBlock" xlink:to="lab_ftai_IntangibleAssetsandLiabilitiesDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_AffiliatedEntityMember_32fd3174-86b6-41a0-9473-a877434d0311_terseLabel_en-US" xlink:label="lab_srt_AffiliatedEntityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Manager</link:label>
    <link:label id="lab_srt_AffiliatedEntityMember_label_en-US" xlink:label="lab_srt_AffiliatedEntityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Affiliated Entity [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_AffiliatedEntityMember" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_AffiliatedEntityMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_AffiliatedEntityMember" xlink:to="lab_srt_AffiliatedEntityMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockValue_67b373db-f64b-4b2c-a2a2-b1e1bce5b6d2_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Ordinary shares ($0.01 par value per share; 2,000,000,000 shares authorized; 100,245,905 and 99,716,621 shares issued and outstanding as of December 31, 2023 and 2022, respectively)</link:label>
    <link:label id="lab_us-gaap_CommonStockValue_label_en-US" xlink:label="lab_us-gaap_CommonStockValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Common Stock, Value, Issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockValue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommonStockValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockValue" xlink:to="lab_us-gaap_CommonStockValue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_GeneralAndAdministrativeExpense_df2bbdef-d01e-4a21-8221-e31ee4510c96_terseLabel_en-US" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">General and administrative</link:label>
    <link:label id="lab_us-gaap_GeneralAndAdministrativeExpense_label_en-US" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">General and Administrative Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GeneralAndAdministrativeExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_GeneralAndAdministrativeExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GeneralAndAdministrativeExpense" xlink:to="lab_us-gaap_GeneralAndAdministrativeExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_label_en-US" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:to="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_GuarantorObligationsLeaseTerm_bcf0d72f-23e6-4d85-935d-87558894d5d1_terseLabel_en-US" xlink:label="lab_ftai_GuarantorObligationsLeaseTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Guarantor obligations, lease term</link:label>
    <link:label id="lab_ftai_GuarantorObligationsLeaseTerm_label_en-US" xlink:label="lab_ftai_GuarantorObligationsLeaseTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Guarantor Obligations, Lease Term</link:label>
    <link:label id="lab_ftai_GuarantorObligationsLeaseTerm_documentation_en-US" xlink:label="lab_ftai_GuarantorObligationsLeaseTerm" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Guarantor Obligations, Lease Term</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_GuarantorObligationsLeaseTerm" xlink:href="ftai-20231231.xsd#ftai_GuarantorObligationsLeaseTerm"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_GuarantorObligationsLeaseTerm" xlink:to="lab_ftai_GuarantorObligationsLeaseTerm" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CurrentStateAndLocalTaxExpenseBenefit_328b7c59-8a25-4d17-b162-00670eee7339_terseLabel_en-US" xlink:label="lab_us-gaap_CurrentStateAndLocalTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">State and local</link:label>
    <link:label id="lab_us-gaap_CurrentStateAndLocalTaxExpenseBenefit_label_en-US" xlink:label="lab_us-gaap_CurrentStateAndLocalTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current State and Local Tax Expense (Benefit)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CurrentStateAndLocalTaxExpenseBenefit" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CurrentStateAndLocalTaxExpenseBenefit"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CurrentStateAndLocalTaxExpenseBenefit" xlink:to="lab_us-gaap_CurrentStateAndLocalTaxExpenseBenefit" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockMember_4a1ed3d3-7650-4aa4-8b98-77bbe81313d8_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred Shares</link:label>
    <link:label id="lab_us-gaap_PreferredStockMember_label_en-US" xlink:label="lab_us-gaap_PreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred Stock [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PreferredStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockMember" xlink:to="lab_us-gaap_PreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract_62d326fb-0cdb-449d-8477-272704c2c612_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred:</link:label>
    <link:label id="lab_us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract_label_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract" xlink:to="lab_us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFiveYears_a7fde4bf-a55d-44cf-8153-cad14a5f1ad5_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFiveYears" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">2028</link:label>
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    <link:label id="lab_us-gaap_AssetImpairmentCharges_422fb3d4-26f9-416d-b578-d00e2e457bac_terseLabel_en-US" xlink:label="lab_us-gaap_AssetImpairmentCharges" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Asset impairment</link:label>
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    <link:label id="lab_us-gaap_AccountsReceivableNet_9c7f90d6-c745-4b06-b92a-26673da7ae81_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsReceivableNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Accounts receivable, net</link:label>
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    <link:label id="lab_us-gaap_RestrictedCash_8d1446b1-dec6-4f0d-bb8c-f2bf7908022e_terseLabel_en-US" xlink:label="lab_us-gaap_RestrictedCash" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Restricted cash</link:label>
    <link:label id="lab_us-gaap_RestrictedCash_label_en-US" xlink:label="lab_us-gaap_RestrictedCash" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Restricted Cash</link:label>
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    <link:label id="lab_us-gaap_SupplementalCashFlowInformationAbstract_d80c9c66-8fb4-4adf-b543-2d54d85f4768_terseLabel_en-US" xlink:label="lab_us-gaap_SupplementalCashFlowInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Supplemental disclosure of cash flow information:</link:label>
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    <link:label id="lab_ftai_DisposalGroupIncludingDiscontinuedOperationExpenses_7d7ff60f-ce43-4a83-b248-d8917617d6ee_totalLabel_en-US" xlink:label="lab_ftai_DisposalGroupIncludingDiscontinuedOperationExpenses" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total expenses</link:label>
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    <link:label id="lab_srt_AfricaMember_1f9c8d2d-b38e-460e-9e45-5476f1350995_terseLabel_en-US" xlink:label="lab_srt_AfricaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Africa</link:label>
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    <link:label id="lab_ftai_ProceedsfromForfeitedSecurityDeposits_3e1ebf9e-621f-43e1-ba1e-faca20d5e4bd_negatedTerseLabel_en-US" xlink:label="lab_ftai_ProceedsfromForfeitedSecurityDeposits" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Security deposits and maintenance claims included in earnings</link:label>
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    <link:label id="lab_us-gaap_AdjustmentForAmortization_fd39e20e-5d0b-4f0e-b092-4e3e109a8b33_terseLabel_en-US" xlink:label="lab_us-gaap_AdjustmentForAmortization" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Amortization</link:label>
    <link:label id="lab_us-gaap_AdjustmentForAmortization_label_en-US" xlink:label="lab_us-gaap_AdjustmentForAmortization" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Amortization</link:label>
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    <link:label id="lab_us-gaap_OtherNonoperatingIncomeExpense_6de6fe0d-4c50-4f7c-a98f-a0282f0a19f4_terseLabel_en-US" xlink:label="lab_us-gaap_OtherNonoperatingIncomeExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other income (expense)</link:label>
    <link:label id="lab_us-gaap_OtherNonoperatingIncomeExpense_label_en-US" xlink:label="lab_us-gaap_OtherNonoperatingIncomeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Nonoperating Income (Expense)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherNonoperatingIncomeExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherNonoperatingIncomeExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherNonoperatingIncomeExpense" xlink:to="lab_us-gaap_OtherNonoperatingIncomeExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityFilerCategory_a191c77b-2387-46e4-a301-0ed75a0ab380_terseLabel_en-US" xlink:label="lab_dei_EntityFilerCategory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Filer Category</link:label>
    <link:label id="lab_dei_EntityFilerCategory_label_en-US" xlink:label="lab_dei_EntityFilerCategory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Filer Category</link:label>
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    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_eddcb4a6-6210-4226-bc27-d359580d04b1_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Equity Method Investments [Line Items]</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsLineItems"/>
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    <link:label id="lab_us-gaap_StatementTable_62d5a948-b6d5-4461-9adf-14fa397327f1_terseLabel_en-US" xlink:label="lab_us-gaap_StatementTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Statement [Table]</link:label>
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    <link:label id="lab_us-gaap_OtherLiabilities_048924bd-52a7-44b7-8d14-2c4bcc218e64_terseLabel_en-US" xlink:label="lab_us-gaap_OtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other liabilities</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherLiabilities" xlink:to="lab_us-gaap_OtherLiabilities" xlink:type="arc" order="1"/>
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    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_8bcaafec-2e1a-45f7-9a7d-4cd114bd7732_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Property, Plant and Equipment, Type [Axis]</link:label>
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    <link:label id="lab_us-gaap_PreferredStockSharesIssued_4cb31ef4-c375-4353-882c-4f50c5633b33_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred stock, shares issued (in shares)</link:label>
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    <link:label id="lab_ftai_ComputerHardwareandSoftwareMember_762f9885-ef06-459c-aba0-ba34932d4f4a_terseLabel_en-US" xlink:label="lab_ftai_ComputerHardwareandSoftwareMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Computer hardware and software</link:label>
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    <link:label id="lab_ftai_ComputerHardwareandSoftwareMember_documentation_en-US" xlink:label="lab_ftai_ComputerHardwareandSoftwareMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Computer Hardware and Software [Member]</link:label>
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    <link:label id="lab_dei_EntityEmergingGrowthCompany_a76075b4-e25f-4091-825b-f8ee8060bee5_terseLabel_en-US" xlink:label="lab_dei_EntityEmergingGrowthCompany" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Emerging Growth Company</link:label>
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    <link:label id="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_80a60002-fb2d-4341-9ef3-cf48048413ca_verboseLabel_en-US" xlink:label="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Intangible assets, net</link:label>
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    <link:label id="lab_us-gaap_DeferredTaxAssetsGross_9e5e45fe-9ff6-4cc7-adef-4e70f7777f56_totalLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsGross" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total deferred tax assets</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsGross" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DeferredTaxAssetsGross"/>
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    <link:label id="lab_us-gaap_DisposalGroupClassificationDomain_c8d74abf-caaf-4fcb-829b-7d7f94c35081_terseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupClassificationDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disposal Group Classification [Domain]</link:label>
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    <link:label id="lab_us-gaap_SegmentContinuingOperationsMember_88919503-73d7-424f-87eb-bdaed76509c1_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentContinuingOperationsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Continuing Operations</link:label>
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    <link:label id="lab_us-gaap_OperatingLeaseLeaseIncomeTableTextBlock_5d98b42b-1f5d-47f3-aeb2-757980326994_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeaseLeaseIncomeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Operating Lease, Lease Income</link:label>
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    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetUsefulLife_98305b96-a049-4e9c-9c4b-b0e7e8fe93bd_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetUsefulLife" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Estimated useful life in years</link:label>
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    <link:label id="lab_dei_CityAreaCode_9d6e8472-069d-4a96-ae95-3df2118ed1f6_terseLabel_en-US" xlink:label="lab_dei_CityAreaCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">City Area Code</link:label>
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    <link:label id="lab_dei_EntityAddressPostalZipCode_d9d57810-290e-4846-a7db-b6247d92591f_terseLabel_en-US" xlink:label="lab_dei_EntityAddressPostalZipCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
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    <link:label id="lab_us-gaap_EarningsPerShareTextBlock_240322a2-9dc2-4b10-8c17-85fa5b3f711f_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">EARNINGS PER SHARE AND EQUITY</link:label>
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    <link:label id="lab_srt_ProductOrServiceAxis_5fcd2618-84f6-4db1-83ba-0c8e1ab66304_terseLabel_en-US" xlink:label="lab_srt_ProductOrServiceAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Product and Service [Axis]</link:label>
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    <link:label id="lab_us-gaap_LiabilitiesAbstract_320c46a1-686f-4e79-9cb4-4646c4fa9ddb_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Liabilities</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAbstract" xlink:to="lab_us-gaap_LiabilitiesAbstract" xlink:type="arc" order="1"/>
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    <link:label id="lab_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax_f0c2f381-e7b4-48cd-96b3-9032217ad643_totalLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net loss from discontinued operations, net of income taxes</link:label>
    <link:label id="lab_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax"/>
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    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_60561d85-e338-4b60-bb44-ee66e689f469_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net cash provided by financing activities</link:label>
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    <link:label id="lab_ftai_NoncashorPartNoncashAcquisitionLeasingEquipmentAcquired_f8ba13c0-bbd9-4e8d-874f-c82d331f1315_terseLabel_en-US" xlink:label="lab_ftai_NoncashorPartNoncashAcquisitionLeasingEquipmentAcquired" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Acquisition of leasing equipment</link:label>
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    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter_590a91db-f2e7-4d9e-9fe3-a0f418dc663b_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Thereafter</link:label>
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    <link:label id="lab_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired_f827c32f-5d83-4086-9699-26777f9ecdd8_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Percent interest acquired</link:label>
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    <link:label id="lab_us-gaap_DiscontinuedOperationsDisposedOfBySaleMember_8aa059af-356c-42d2-8e0c-f1f71cba9bca_terseLabel_en-US" xlink:label="lab_us-gaap_DiscontinuedOperationsDisposedOfBySaleMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Discontinued Operations, Disposed of by Sale</link:label>
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    <link:label id="lab_ftai_QuickTurnEngineLLCMember_7929d765-eb84-45d0-b14d-a25300aa3d23_terseLabel_en-US" xlink:label="lab_ftai_QuickTurnEngineLLCMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Quick Turn Engine Center LLC</link:label>
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    <link:label id="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_dd921425-d203-4d2d-a8d6-1ac5f7db4da6_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Business Acquisitions, by Acquisition [Table]</link:label>
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    <link:label id="lab_us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount_1f98d432-bdbf-418d-911f-517a5c24a758_terseLabel_en-US" xlink:label="lab_us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Change due to current year releases</link:label>
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    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_95de3726-cc0e-4358-af5f-0962071bbe70_totalLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Long-Term Debt, Gross</link:label>
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    <link:label id="lab_us-gaap_RelatedPartyTransactionsAbstract_16d0c52a-cf5c-415b-9d7b-124d4ba38716_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party Transactions [Abstract]</link:label>
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    <link:label id="lab_ftai_SeniorNotesDue2028Member_5decc772-2667-4173-9139-b3ec028b96c6_terseLabel_en-US" xlink:label="lab_ftai_SeniorNotesDue2028Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Senior Notes due 2028</link:label>
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    <link:label id="lab_ftai_PaymentsProceedsFromAcquisitionOfIntangibleAssets_3d9ce00a-4a9a-4baf-9e80-8615bc80af21_negatedTerseLabel_en-US" xlink:label="lab_ftai_PaymentsProceedsFromAcquisitionOfIntangibleAssets" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Acquisition of lease intangibles</link:label>
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    <link:label id="lab_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_deffa3a9-eb28-4c28-885f-e95afef76198_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Restricted Cash</link:label>
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    <link:label id="lab_srt_TitleOfIndividualWithRelationshipToEntityDomain_2cb04307-e8bf-4ee5-81a6-7ec89f3bda88_terseLabel_en-US" xlink:label="lab_srt_TitleOfIndividualWithRelationshipToEntityDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Relationship to Entity [Domain]</link:label>
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    <link:label id="lab_us-gaap_ProvisionForDoubtfulAccounts_9f67443c-a5b8-4f39-bbe3-8f11a72360f4_terseLabel_en-US" xlink:label="lab_us-gaap_ProvisionForDoubtfulAccounts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Provision for credit losses</link:label>
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    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_835e7da1-2c48-4c8d-9825-be3dd99b13d3_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Less: forfeited/cancelled (in shares)</link:label>
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    <link:label id="lab_ftai_AdjustmentsToAdditionalPaidInCapitalDivestiture_923f3a9d-6f58-42e8-bd99-4e8f2957822a_negatedTerseLabel_en-US" xlink:label="lab_ftai_AdjustmentsToAdditionalPaidInCapitalDivestiture" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Spin-off of FTAI Infrastructure, Inc., net of distributions</link:label>
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    <link:label id="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_0f47717c-ce59-4c1c-a4a1-c0347cc22ac0_totalLabel_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total deferred (benefit) provision</link:label>
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    <link:label id="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_e5bdbc3c-dacf-4916-b725-bfbf72306e50_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party [Axis]</link:label>
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    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_79601512-e921-4183-bc47-c04968af0df7_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Aggregate intrinsic value (in thousands)</link:label>
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    <link:label id="lab_ftai_LongTermDebtGrossOfDebtIssuanceCosts_a2b687c5-5c20-4e17-8abe-f12fbcc1f5f8_terseLabel_en-US" xlink:label="lab_ftai_LongTermDebtGrossOfDebtIssuanceCosts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Debt, gross of debt issuance costs</link:label>
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    <link:label id="lab_ftai_LeasingEquipmentNumberOfAircraftEnginesLocated_77d150b3-583a-4a72-82fd-b173025abdcf_terseLabel_en-US" xlink:label="lab_ftai_LeasingEquipmentNumberOfAircraftEnginesLocated" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of engines</link:label>
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    <link:label id="lab_us-gaap_ComponentsOfDeferredTaxLiabilitiesAbstract_f7495dab-ccd6-4d2b-9ba2-cca54f856ecf_terseLabel_en-US" xlink:label="lab_us-gaap_ComponentsOfDeferredTaxLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred tax liabilities:</link:label>
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    <link:label id="lab_ftai_IncomeLossFromEquityMethodInvestmentsDiscontinuedOperations_22818390-b357-43b2-bb36-9d4534cab1d6_terseLabel_en-US" xlink:label="lab_ftai_IncomeLossFromEquityMethodInvestmentsDiscontinuedOperations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Equity in losses of unconsolidated entities</link:label>
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    <link:label id="lab_dei_DocumentPeriodEndDate_c82dbc3a-5068-4aa9-b854-dc7542a4ffce_terseLabel_en-US" xlink:label="lab_dei_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Document Period End Date</link:label>
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    <link:label id="lab_us-gaap_AllocatedShareBasedCompensationExpense_1b52bbc7-efa4-4030-8a00-b6b9b8d0526f_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_AllocatedShareBasedCompensationExpense" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Less: Equity-based compensation expense</link:label>
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    <link:label id="lab_us-gaap_IncomeTaxExpenseBenefit_label_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Income Tax Expense (Benefit)</link:label>
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    <link:label id="lab_ftai_ValuationAllowanceDeferredTaxAssetIncreaseDueToCurrentYearLosses_b067344d-79ae-40ad-8438-891e779d7850_terseLabel_en-US" xlink:label="lab_ftai_ValuationAllowanceDeferredTaxAssetIncreaseDueToCurrentYearLosses" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Change due to current year losses</link:label>
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    <link:label id="lab_ftai_ValuationAllowanceDeferredTaxAssetIncreaseDueToCurrentYearLosses_documentation_en-US" xlink:label="lab_ftai_ValuationAllowanceDeferredTaxAssetIncreaseDueToCurrentYearLosses" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Valuation Allowance, Deferred Tax Asset, Increase Due To Current Year Losses</link:label>
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    <link:label id="lab_us-gaap_NonUsMember_d14c23ef-e1a1-4844-b1e2-56a2e4ca0feb_terseLabel_en-US" xlink:label="lab_us-gaap_NonUsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Non-U.S.</link:label>
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    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_20a30c87-9db5-4070-9766-7a970bc0c5ec_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Weighted average remaining contractual term (in years)</link:label>
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    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_4424aabb-2afd-4e0e-a09c-169c98b9d520_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Accounts receivable, net</link:label>
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    <link:label id="lab_us-gaap_IncomeTaxAuthorityDomain_90e7dc38-0204-426a-8058-7e442845ba8a_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxAuthorityDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Income Tax Authority [Domain]</link:label>
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    <link:label id="lab_ftai_AccruedManagementFeesMember_76a7341d-79ab-4acb-8b42-5d0d872e5cdd_terseLabel_en-US" xlink:label="lab_ftai_AccruedManagementFeesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Accrued management fees</link:label>
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    <link:label id="lab_us-gaap_FairValueDisclosuresTextBlock_a26ab647-07bc-4bd8-aee3-25b85d2cf5ee_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">FAIR VALUE MEASUREMENTS</link:label>
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    <link:label id="lab_us-gaap_DividendsPreferredStockCash_cb0292de-b8d6-46b4-9a6f-2ffe83b99fb2_negatedLabel_en-US" xlink:label="lab_us-gaap_DividendsPreferredStockCash" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dividends declared - preferred shares</link:label>
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    <link:label id="lab_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_4e62f1f2-d64f-4f8a-a9d4-8d682801edbe_terseLabel_en-US" xlink:label="lab_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total revenues</link:label>
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    <link:label id="lab_us-gaap_LongtermDebtTypeAxis_92b1a130-9d90-4bc1-b610-8f9f9e544486_terseLabel_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Long-term Debt, Type [Axis]</link:label>
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    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears_69a2d2f0-2a0b-4f2d-aacf-6db10fe8c560_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">2025</link:label>
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    <link:label id="lab_ftai_SeniorNotesDue2030Member_46462f8d-74ce-45a7-8873-e49596782f0d_terseLabel_en-US" xlink:label="lab_ftai_SeniorNotesDue2030Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Senior Notes due 2030</link:label>
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    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNetAbstract_b6590657-ac12-4cf7-9ebc-ac4186a2f82a_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNetAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Intangible assets</link:label>
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    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_b746e329-7cb9-4deb-b46f-b9a37aebede5_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cash and cash equivalents</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestIncomeExpenseNet" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_InterestIncomeExpenseNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestIncomeExpenseNet" xlink:to="lab_us-gaap_InterestIncomeExpenseNet" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_MaintenancePaymentsPolicyTextBlock_7d16fd61-e5fd-4412-9913-e905b5a33139_terseLabel_en-US" xlink:label="lab_ftai_MaintenancePaymentsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Maintenance Payments</link:label>
    <link:label id="lab_ftai_MaintenancePaymentsPolicyTextBlock_label_en-US" xlink:label="lab_ftai_MaintenancePaymentsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Maintenance Payments [Policy Text Block]</link:label>
    <link:label id="lab_ftai_MaintenancePaymentsPolicyTextBlock_documentation_en-US" xlink:label="lab_ftai_MaintenancePaymentsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Maintenance Payments</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_MaintenancePaymentsPolicyTextBlock" xlink:to="lab_ftai_MaintenancePaymentsPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestPaidNet_1480c8ff-7eea-450d-afd2-51614929cca1_terseLabel_en-US" xlink:label="lab_us-gaap_InterestPaidNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cash paid for interest, net of capitalized interest</link:label>
    <link:label id="lab_us-gaap_InterestPaidNet_label_en-US" xlink:label="lab_us-gaap_InterestPaidNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Interest Paid, Excluding Capitalized Interest, Operating Activities</link:label>
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    <link:label id="lab_us-gaap_PaymentsToAcquireEquipmentOnLease_9c74c0aa-f09e-4a68-a8fb-f37b67be1eb1_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireEquipmentOnLease" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Acquisition of leasing equipment</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireEquipmentOnLease_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireEquipmentOnLease" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments to Acquire Equipment on Lease</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquireEquipmentOnLease" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PaymentsToAcquireEquipmentOnLease"/>
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    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_9b3c0a8f-783c-4670-b62b-8b3c41388f1b_totalLabel_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Comprehensive income (loss)</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest"/>
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    <link:label id="lab_ftai_DeferredTaxAssetInvestmentInPartnerships_3c6d59e4-f1a7-4926-9b86-6caf517a1c2b_terseLabel_en-US" xlink:label="lab_ftai_DeferredTaxAssetInvestmentInPartnerships" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Investment in Partnerships</link:label>
    <link:label id="lab_ftai_DeferredTaxAssetInvestmentInPartnerships_label_en-US" xlink:label="lab_ftai_DeferredTaxAssetInvestmentInPartnerships" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred Tax Asset, Investment in Partnerships</link:label>
    <link:label id="lab_ftai_DeferredTaxAssetInvestmentInPartnerships_documentation_en-US" xlink:label="lab_ftai_DeferredTaxAssetInvestmentInPartnerships" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred Tax Asset, Investment in Partnerships</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_DeferredTaxAssetInvestmentInPartnerships" xlink:href="ftai-20231231.xsd#ftai_DeferredTaxAssetInvestmentInPartnerships"/>
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    <link:label id="lab_us-gaap_CreditFacilityDomain_edc76b92-cb69-425c-b737-d4d0c07648e1_terseLabel_en-US" xlink:label="lab_us-gaap_CreditFacilityDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Credit Facility [Domain]</link:label>
    <link:label id="lab_us-gaap_CreditFacilityDomain_label_en-US" xlink:label="lab_us-gaap_CreditFacilityDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Credit Facility [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CreditFacilityDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CreditFacilityDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CreditFacilityDomain" xlink:to="lab_us-gaap_CreditFacilityDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_DelawareRiverPartnersMember_f9cf7ee6-c807-4e4a-bad0-8a0622f344eb_terseLabel_en-US" xlink:label="lab_ftai_DelawareRiverPartnersMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Delaware River Partners LLC</link:label>
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    <link:label id="lab_ftai_DelawareRiverPartnersMember_documentation_en-US" xlink:label="lab_ftai_DelawareRiverPartnersMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Delaware River Partners [Member]</link:label>
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    <link:label id="lab_ftai_MaintenanceRightAssets_5b6502fc-a4aa-4164-83f3-de959d04c7ae_terseLabel_en-US" xlink:label="lab_ftai_MaintenanceRightAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Maintenance right assets</link:label>
    <link:label id="lab_ftai_MaintenanceRightAssets_label_en-US" xlink:label="lab_ftai_MaintenanceRightAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Maintenance Right Assets</link:label>
    <link:label id="lab_ftai_MaintenanceRightAssets_documentation_en-US" xlink:label="lab_ftai_MaintenanceRightAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Maintenance Right Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_MaintenanceRightAssets" xlink:href="ftai-20231231.xsd#ftai_MaintenanceRightAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_MaintenanceRightAssets" xlink:to="lab_ftai_MaintenanceRightAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IntangibleAssetsFiniteLivedPolicy_e679ed6b-7972-445b-9aca-7e8b7b7581cb_terseLabel_en-US" xlink:label="lab_us-gaap_IntangibleAssetsFiniteLivedPolicy" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Intangibles and amortization</link:label>
    <link:label id="lab_us-gaap_IntangibleAssetsFiniteLivedPolicy_label_en-US" xlink:label="lab_us-gaap_IntangibleAssetsFiniteLivedPolicy" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Intangible Assets, Finite-Lived, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IntangibleAssetsFiniteLivedPolicy" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IntangibleAssetsFiniteLivedPolicy"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IntangibleAssetsFiniteLivedPolicy" xlink:to="lab_us-gaap_IntangibleAssetsFiniteLivedPolicy" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices_32d9e313-0904-4d71-8441-6a1f4d4f3109_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Shares issued for service (in shares)</link:label>
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    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_ee1cd76b-c451-4e33-8f9f-6e3c6b496971_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Useful life</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_cd23aeb4-2184-4c2e-a3c0-d57a5086125d_verboseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Useful life, property plant and equipment</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Property, Plant and Equipment, Useful Life</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PropertyPlantAndEquipmentUsefulLife"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_Threshold2Member_5f6ce429-6c38-436d-a8ef-785ec9eccec0_terseLabel_en-US" xlink:label="lab_ftai_Threshold2Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Threshold 2</link:label>
    <link:label id="lab_ftai_Threshold2Member_label_en-US" xlink:label="lab_ftai_Threshold2Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Threshold 2 [Member]</link:label>
    <link:label id="lab_ftai_Threshold2Member_documentation_en-US" xlink:label="lab_ftai_Threshold2Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Threshold 2 [Member]</link:label>
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    <link:label id="lab_us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_4fd1fa8a-a501-4757-8012-3b414c8d1ba2_terseLabel_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Change in valuation allowance</link:label>
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    <link:label id="lab_us-gaap_DeferredTaxLiabilities_63d5e20b-7113-44b5-a2e9-eeab3c534f34_negatedTotalLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxLiabilities" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net deferred tax assets (liabilities)</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxLiabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DeferredTaxLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxLiabilities" xlink:to="lab_us-gaap_DeferredTaxLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_b930de58-a8e6-4ab0-8981-ffe70691b089_terseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Diluted (in shares)</link:label>
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    <link:label id="lab_us-gaap_SeriesAPreferredStockMember_33cc83ce-1dd5-44c4-8271-1f5dab4733d8_terseLabel_en-US" xlink:label="lab_us-gaap_SeriesAPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Series A Preferred Stock</link:label>
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    <link:label id="lab_ftai_AmortizationofLeaseIntangibleAssetsandLiabilitiesNet_ca695cad-6340-4e83-9121-cc275e7eb15a_terseLabel_en-US" xlink:label="lab_ftai_AmortizationofLeaseIntangibleAssetsandLiabilitiesNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Lease income</link:label>
    <link:label id="lab_ftai_AmortizationofLeaseIntangibleAssetsandLiabilitiesNet_label_en-US" xlink:label="lab_ftai_AmortizationofLeaseIntangibleAssetsandLiabilitiesNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Amortization of Lease Intangible Assets and Liabilities, Net</link:label>
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    <link:label id="lab_ftai_WeightedAverageSharesOutstandingAbstract_152ff259-fc4b-43ce-844a-805ed0e4a39e_terseLabel_en-US" xlink:label="lab_ftai_WeightedAverageSharesOutstandingAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Weighted Average Shares Outstanding:</link:label>
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    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentOtherTypesMember_20ebf6ba-0152-4920-af56-6f5b4f390723_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentOtherTypesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other</link:label>
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    <link:label id="lab_us-gaap_SeriesCPreferredStockMember_b742ecb5-d685-4159-8375-362db056ada4_terseLabel_en-US" xlink:label="lab_us-gaap_SeriesCPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Series C Preferred Stock</link:label>
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    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract"/>
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    <link:label id="lab_ftai_AircraftMember_28544634-c28a-4a86-b4d7-d6c75e31f873_terseLabel_en-US" xlink:label="lab_ftai_AircraftMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Aircraft</link:label>
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    <link:label id="lab_ftai_AircraftMember_documentation_en-US" xlink:label="lab_ftai_AircraftMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Aircraft [Member]</link:label>
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    <link:label id="lab_ftai_AviationLeasingMember_e4bf099c-cc2e-48a6-8e14-65f81b49f442_terseLabel_en-US" xlink:label="lab_ftai_AviationLeasingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Aviation Leasing</link:label>
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    <link:label id="lab_ftai_AviationLeasingMember_documentation_en-US" xlink:label="lab_ftai_AviationLeasingMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Aviation Leasing [Member]</link:label>
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    <link:label id="lab_us-gaap_RelatedPartyTransactionAxis_69e0c531-ab0a-42c3-8986-d0dd91fe0b38_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party Transaction [Axis]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionAxis_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party Transaction [Axis]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionAxis" xlink:to="lab_us-gaap_RelatedPartyTransactionAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LimitedLiabilityCompanyLlcMembersEquityIncludingPortionAttributableToNoncontrollingInterest_37bbcfde-0a2a-4ab3-aeb2-47e75ade3965_totalLabel_en-US" xlink:label="lab_us-gaap_LimitedLiabilityCompanyLlcMembersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total equity</link:label>
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    <link:label id="lab_us-gaap_StatementBusinessSegmentsAxis_16e26e50-48c5-4211-9eeb-9d43e90ce28a_terseLabel_en-US" xlink:label="lab_us-gaap_StatementBusinessSegmentsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Segments [Axis]</link:label>
    <link:label id="lab_us-gaap_StatementBusinessSegmentsAxis_label_en-US" xlink:label="lab_us-gaap_StatementBusinessSegmentsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Segments [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementBusinessSegmentsAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StatementBusinessSegmentsAxis"/>
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    <link:label id="lab_us-gaap_IncreaseDecreaseInDueToRelatedParties_0bae0b57-2140-45a9-81c4-6b62b89b31e6_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInDueToRelatedParties" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Management fees payable to affiliate</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ftai_PaymentsforDepositsonLeasingEquipment" xlink:href="ftai-20231231.xsd#ftai_PaymentsforDepositsonLeasingEquipment"/>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_Threshold1Member" xlink:to="lab_ftai_Threshold1Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CustomerRelationshipsMember_482e6827-3cba-4d9e-a02b-e63037434348_terseLabel_en-US" xlink:label="lab_us-gaap_CustomerRelationshipsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Acquired customer relationships</link:label>
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