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    <link:label id="lab_us-gaap_DebtDisclosureTextBlock_9862bbc5-e2ff-4117-a3a5-60000b3e1123_terseLabel_en-US" xlink:label="lab_us-gaap_DebtDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">DEBT, NET</link:label>
    <link:label id="lab_us-gaap_DebtDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_DebtDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtDisclosureTextBlock" xlink:to="lab_us-gaap_DebtDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementOfStockholdersEquityAbstract_ebb01fa9-9b42-4f61-b4a0-70a83820907b_terseLabel_en-US" xlink:label="lab_us-gaap_StatementOfStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement of Stockholders' Equity [Abstract]</link:label>
    <link:label id="lab_us-gaap_StatementOfStockholdersEquityAbstract_label_en-US" xlink:label="lab_us-gaap_StatementOfStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Stockholders' Equity [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfStockholdersEquityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StatementOfStockholdersEquityAbstract"/>
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    <link:label id="lab_us-gaap_PaymentsToAcquireBusinessesGross_6154040f-b923-4121-a7b7-016b268431a5_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireBusinessesGross" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Payments to acquire businesses, gross</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireBusinessesGross_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireBusinessesGross" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Businesses, Gross</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquireBusinessesGross" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PaymentsToAcquireBusinessesGross"/>
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    <link:label id="lab_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_23d30fd3-ac26-4692-b666-37ee6c120d33_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Recognized Identified Assets Acquired and Liabilities Assumed</link:label>
    <link:label id="lab_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_DepreciationandAmortizationMember_babe7a23-ce66-4eb5-abd3-efa1c723e25a_terseLabel_en-US" xlink:label="lab_ftai_DepreciationandAmortizationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation and amortization</link:label>
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    <link:label id="lab_ftai_DepreciationandAmortizationMember_documentation_en-US" xlink:label="lab_ftai_DepreciationandAmortizationMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Depreciation and Amortization [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_DepreciationandAmortizationMember" xlink:href="ftai-20240331.xsd#ftai_DepreciationandAmortizationMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_DepreciationandAmortizationMember" xlink:to="lab_ftai_DepreciationandAmortizationMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RevolvingCreditFacilityMember_4a3d2297-ca7f-410a-abf7-f8ded5259c1e_terseLabel_en-US" xlink:label="lab_us-gaap_RevolvingCreditFacilityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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"/>
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    <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" 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"/>
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    <link:label id="lab_us-gaap_SegmentReportingAbstract_3ab1e961-5106-4026-823a-2c3819e5764a_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentReportingAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Segment Reporting [Abstract]</link:label>
    <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" 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_5c0c9df2-9a58-4219-98f3-a96791a82ca9_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts payable and accrued liabilities</link:label>
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    <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_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_d7746248-f0a6-423c-a3a4-e666c322ac01_terseLabel_en-US" xlink:label="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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"/>
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    <link:label id="lab_ftai_TransfersFromLeasingEquipment_0dfd8a9e-b13b-45ab-8efc-735a164d9410_negatedTerseLabel_en-US" xlink:label="lab_ftai_TransfersFromLeasingEquipment" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Transfers from leasing equipment</link:label>
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    <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" xml:lang="en-US">Transfers From Leasing Equipment</link:label>
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    <link:label id="lab_us-gaap_NonoperatingIncomeExpense_31a923bd-ea8a-4257-bd6a-b86e97346ed4_totalLabel_en-US" xlink:label="lab_us-gaap_NonoperatingIncomeExpense" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total other expense</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" xml:lang="en-US">Nonoperating Income (Expense)</link:label>
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    <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_us-gaap_CommitmentsAndContingencies_9db8f520-ca9c-47f2-912d-30cf964e5be2_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingencies" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commitments and contingencies</link:label>
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    <link:label id="lab_us-gaap_GeneralPartnerMember_8b3bb30b-6b4c-4057-95d4-1f6f27a0676f_terseLabel_en-US" xlink:label="lab_us-gaap_GeneralPartnerMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">General Partner</link:label>
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    <link:label id="lab_us-gaap_IncomeTaxDisclosureTextBlock_c060b5ad-69ed-4618-a186-9d8c0d9f6a47_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">INCOME TAXES</link:label>
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    <link:label id="lab_us-gaap_DeferredFederalIncomeTaxExpenseBenefit_757d9cb7-7c98-4da0-b80e-4547f5659769_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredFederalIncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" xml:lang="en-US">Deferred Federal Income Tax Expense (Benefit)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredFederalIncomeTaxExpenseBenefit" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DeferredFederalIncomeTaxExpenseBenefit"/>
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    <link:label id="lab_ftai_InterestExpenseAndDividendsOnPreferredShares_c07e308f-09b9-4f9f-99d8-5d5128a83ba4_negatedTerseLabel_en-US" xlink:label="lab_ftai_InterestExpenseAndDividendsOnPreferredShares" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Less: Interest expense and dividends on preferred shares</link:label>
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    <link:label id="lab_ftai_InterestExpenseAndDividendsOnPreferredShares_documentation_en-US" xlink:label="lab_ftai_InterestExpenseAndDividendsOnPreferredShares" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Interest Expense And Dividends On Preferred Shares</link:label>
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    <link:label id="lab_us-gaap_PreferredStockParOrStatedValuePerShare_914e9d87-9d0b-402c-86ed-d07a2d76c651_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock, par value (in dollars per share)</link:label>
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    <link:label id="lab_us-gaap_PreferredStockValue_aac4d645-e063-411f-9704-cafeeaeaac2d_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred shares ($0.01 par value per share; 200,000,000 shares authorized; 15,920,000 and 15,920,000 shares issued and outstanding as of March&#160;31, 2024 and December&#160;31, 2023, respectively)</link:label>
    <link:label id="lab_us-gaap_PreferredStockValue_label_en-US" xlink:label="lab_us-gaap_PreferredStockValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Value, Issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockValue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PreferredStockValue"/>
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    <link:label id="lab_us-gaap_BusinessAcquisitionLineItems_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Acquisition [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessAcquisitionLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BusinessAcquisitionLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems" xlink:to="lab_us-gaap_BusinessAcquisitionLineItems" xlink:type="arc" order="1"/>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SubsequentEventTypeDomain"/>
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    <link:label id="lab_ftai_ProceedsFromDepositsOnSaleOfMachineryAndEquipment_63125fc9-e73b-4e54-b158-20170548b5c8_terseLabel_en-US" xlink:label="lab_ftai_ProceedsFromDepositsOnSaleOfMachineryAndEquipment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Return of purchase deposits</link:label>
    <link:label id="lab_ftai_ProceedsFromDepositsOnSaleOfMachineryAndEquipment_label_en-US" xlink:label="lab_ftai_ProceedsFromDepositsOnSaleOfMachineryAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Deposits on Sale of Machinery and Equipment</link:label>
    <link:label id="lab_ftai_ProceedsFromDepositsOnSaleOfMachineryAndEquipment_documentation_en-US" xlink:label="lab_ftai_ProceedsFromDepositsOnSaleOfMachineryAndEquipment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proceeds from Deposits on Sale of Machinery and Equipment</link:label>
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    <link:label id="lab_ftai_RelatedPartyTransactionIncomeIncentiveAllocationPercentofPreincentiveAllocationNetIncome_f51edb1a-069e-4d13-917d-43a856055c7e_terseLabel_en-US" xlink:label="lab_ftai_RelatedPartyTransactionIncomeIncentiveAllocationPercentofPreincentiveAllocationNetIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percent of pre-incentive allocation net income</link:label>
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    <link:label id="lab_ftai_RelatedPartyTransactionIncomeIncentiveAllocationPercentofPreincentiveAllocationNetIncome_documentation_en-US" xlink:label="lab_ftai_RelatedPartyTransactionIncomeIncentiveAllocationPercentofPreincentiveAllocationNetIncome" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Income Incentive Allocation, Percent of Pre-incentive Allocation Net Income</link:label>
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    <link:label id="lab_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse_96d3a7db-3bfa-43e8-bb9f-77b2e6366e4d_terseLabel_en-US" xlink:label="lab_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Impairment of long lived assets</link:label>
    <link:label id="lab_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse_label_en-US" xlink:label="lab_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Impairment, Long-Lived Asset, Held-for-Use</link:label>
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    <link:label id="lab_us-gaap_EarningsPerShareDiluted_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareDiluted" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share, Diluted</link:label>
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    <link:label id="lab_ftai_LeasingEquipmentMember_37296d6a-102f-4cc9-b51d-6f1bdabe1c83_terseLabel_en-US" xlink:label="lab_ftai_LeasingEquipmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Leasing Equipment</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" 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" xml:lang="en-US">Leasing Equipment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_LeasingEquipmentMember" xlink:href="ftai-20240331.xsd#ftai_LeasingEquipmentMember"/>
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    <link:label id="lab_ftai_LeasingEquipmentPurchaseDeposits_c7dc6f23-90ec-4cb4-8f43-475f2ce5e6ad_terseLabel_en-US" xlink:label="lab_ftai_LeasingEquipmentPurchaseDeposits" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Purchase deposits</link:label>
    <link:label id="lab_ftai_LeasingEquipmentPurchaseDeposits_label_en-US" xlink:label="lab_ftai_LeasingEquipmentPurchaseDeposits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Leasing Equipment, Purchase Deposits</link:label>
    <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" xml:lang="en-US">Leasing Equipment, Purchase Deposits</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_LeasingEquipmentPurchaseDeposits" xlink:href="ftai-20240331.xsd#ftai_LeasingEquipmentPurchaseDeposits"/>
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    <link:label id="lab_us-gaap_OperatingLeasesOfLessorDisclosureTextBlock_6856cc81-b3c9-488f-a08c-98b0be422cf0_verboseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesOfLessorDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">LEASING EQUIPMENT, NET</link:label>
    <link:label id="lab_us-gaap_OperatingLeasesOfLessorDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesOfLessorDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Leases [Text Block]</link:label>
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    <link:label id="lab_us-gaap_BuildingAndBuildingImprovementsMember_85176003-184e-4565-b647-38e0c2c640c6_terseLabel_en-US" xlink:label="lab_us-gaap_BuildingAndBuildingImprovementsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Buildings and improvements</link:label>
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    <link:label id="lab_dei_TradingSymbol_a314110c-c7e1-49f1-a816-372722c10c76_terseLabel_en-US" xlink:label="lab_dei_TradingSymbol" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trading Symbol</link:label>
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    <link:label id="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments_2d588a90-7c7d-4f99-80e2-ea6f8677d5ce_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Payments to acquire equity method investments</link:label>
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    <link:label id="lab_us-gaap_FairValueDisclosuresAbstract_f94df69f-905a-42c4-afc3-b152258a4aae_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Disclosures [Abstract]</link:label>
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    <link:label id="lab_us-gaap_MachineryAndEquipmentMember_35a9d162-2761-4ea5-94cc-0e04eab62b6b_terseLabel_en-US" xlink:label="lab_us-gaap_MachineryAndEquipmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Machinery and equipment</link:label>
    <link:label id="lab_us-gaap_MachineryAndEquipmentMember_label_en-US" xlink:label="lab_us-gaap_MachineryAndEquipmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Machinery and Equipment [Member]</link:label>
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    <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_4583a1fa-3dbd-4240-98e4-ed6a9f98a290_terseLabel_en-US" xlink:label="lab_us-gaap_CorporateBondSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" xml:lang="en-US">Corporate Bond Securities [Member]</link:label>
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    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived_18d4e0f8-8133-44be-ab2e-93154cd56a1e_totalLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
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    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems_69bbb094-6dc5-4b7a-ab4f-f172c75152ee_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable_583bd625-55b8-4467-a50b-e3a4a393e114_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Equity Method Investments [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Equity Method Investments [Table]</link:label>
    <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_SeniorNotesDue2025Member_2d6e4ca8-d945-41c7-a63d-7ae618015dde_terseLabel_en-US" xlink:label="lab_ftai_SeniorNotesDue2025Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Senior Notes Due 2025</link:label>
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    <link:label id="lab_us-gaap_ConcentrationRiskBenchmarkDomain_c889c08f-4ea4-48f8-8b53-0f2158471777_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskBenchmarkDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Concentration Risk Benchmark [Domain]</link:label>
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    <link:label id="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_69850c37-8f82-44f7-974d-4aea5d4398e3_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Earnings Per Share, Basic and Diluted</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_LessorOperatingLeaseCarryingValueofAssetsSubjecttoLeasesTableTextBlock" xlink:to="lab_ftai_LessorOperatingLeaseCarryingValueofAssetsSubjecttoLeasesTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ComprehensiveIncomePolicyPolicyTextBlock_6df28c86-4219-4c99-87b5-5bf38c5f8db5_terseLabel_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomePolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Comprehensive Income (Loss)</link:label>
    <link:label id="lab_us-gaap_ComprehensiveIncomePolicyPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomePolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive Income, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomePolicyPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ComprehensiveIncomePolicyPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ComprehensiveIncomePolicyPolicyTextBlock" xlink:to="lab_us-gaap_ComprehensiveIncomePolicyPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseAccumulatedAmortization_dee877cd-6705-469b-adac-e572a6ad60e3_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAccumulatedAmortization" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Less: Accumulated amortization</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAccumulatedAmortization_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAccumulatedAmortization" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Accumulated Amortization</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseAccumulatedAmortization" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BelowMarketLeaseAccumulatedAmortization"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseAccumulatedAmortization" xlink:to="lab_us-gaap_BelowMarketLeaseAccumulatedAmortization" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears_b6ac50ce-dda9-4bbf-847d-fa96cab4e7cd_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2028</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Year Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SignificantAccountingPoliciesTextBlock_ebefbb8b-d56d-45ce-b46d-527cbff6b0d3_terseLabel_en-US" xlink:label="lab_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</link:label>
    <link:label id="lab_us-gaap_SignificantAccountingPoliciesTextBlock_label_en-US" xlink:label="lab_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Significant Accounting Policies [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SignificantAccountingPoliciesTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:to="lab_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_AmortizationofLeaseIntangiblesandIncentives_3afa3c45-8ab9-4d86-b375-bb5b1204d956_terseLabel_en-US" xlink:label="lab_ftai_AmortizationofLeaseIntangiblesandIncentives" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization of lease intangibles and incentives</link:label>
    <link:label id="lab_ftai_AmortizationofLeaseIntangiblesandIncentives_label_en-US" xlink:label="lab_ftai_AmortizationofLeaseIntangiblesandIncentives" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of Lease Intangibles and Incentives</link:label>
    <link:label id="lab_ftai_AmortizationofLeaseIntangiblesandIncentives_documentation_en-US" xlink:label="lab_ftai_AmortizationofLeaseIntangiblesandIncentives" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amortization of Lease Intangibles and Incentives</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_AmortizationofLeaseIntangiblesandIncentives" xlink:href="ftai-20240331.xsd#ftai_AmortizationofLeaseIntangiblesandIncentives"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_AmortizationofLeaseIntangiblesandIncentives" xlink:to="lab_ftai_AmortizationofLeaseIntangiblesandIncentives" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_GuaranteeObligationsMaximumExposure_31d25f46-dd27-4a3f-8208-4600073562d4_terseLabel_en-US" xlink:label="lab_us-gaap_GuaranteeObligationsMaximumExposure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Undiscounted future payments, potential pay out</link:label>
    <link:label id="lab_us-gaap_GuaranteeObligationsMaximumExposure_label_en-US" xlink:label="lab_us-gaap_GuaranteeObligationsMaximumExposure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Guarantor Obligations, Maximum Exposure, Undiscounted</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GuaranteeObligationsMaximumExposure" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_GuaranteeObligationsMaximumExposure"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GuaranteeObligationsMaximumExposure" xlink:to="lab_us-gaap_GuaranteeObligationsMaximumExposure" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_Goodwill_3bdc30a9-84c7-4dc6-9d58-69bb56eff1c8_terseLabel_en-US" xlink:label="lab_us-gaap_Goodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Goodwill</link:label>
    <link:label id="lab_us-gaap_Goodwill_label_en-US" xlink:label="lab_us-gaap_Goodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Goodwill</link:label>
    <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"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Goodwill" xlink:to="lab_us-gaap_Goodwill" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementEquityComponentsAxis_d0ff7009-3600-41aa-bcff-1ecf4b612913_terseLabel_en-US" xlink:label="lab_us-gaap_StatementEquityComponentsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Components [Axis]</link:label>
    <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" 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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_fb6c5225-0e93-407b-9b3a-a742834828ee_verboseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Stock options transferred (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntitySmallBusiness_347b20ce-9c54-4d20-815f-92213e32de92_terseLabel_en-US" xlink:label="lab_dei_EntitySmallBusiness" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" xml:lang="en-US">Entity Small Business</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntitySmallBusiness" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntitySmallBusiness"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntitySmallBusiness" xlink:to="lab_dei_EntitySmallBusiness" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_SeniorNotesDue2031Member_f1197d8b-e70a-4f53-b85f-7a570aa325f5_terseLabel_en-US" xlink:label="lab_ftai_SeniorNotesDue2031Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Senior Notes Due 2031</link:label>
    <link:label id="lab_ftai_SeniorNotesDue2031Member_label_en-US" xlink:label="lab_ftai_SeniorNotesDue2031Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Notes Due 2031 [Member]</link:label>
    <link:label id="lab_ftai_SeniorNotesDue2031Member_documentation_en-US" xlink:label="lab_ftai_SeniorNotesDue2031Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Senior Notes Due 2031</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_SeniorNotesDue2031Member" xlink:href="ftai-20240331.xsd#ftai_SeniorNotesDue2031Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_SeniorNotesDue2031Member" xlink:to="lab_ftai_SeniorNotesDue2031Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_FalconMSN177LLCMember_f2882228-6be4-4a00-8c57-97b2ebdc0bc5_terseLabel_en-US" xlink:label="lab_ftai_FalconMSN177LLCMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Falcon MSN 177 LLC</link:label>
    <link:label id="lab_ftai_FalconMSN177LLCMember_label_en-US" xlink:label="lab_ftai_FalconMSN177LLCMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Falcon MSN 177 LLC [Member]</link:label>
    <link:label id="lab_ftai_FalconMSN177LLCMember_documentation_en-US" xlink:label="lab_ftai_FalconMSN177LLCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Falcon MSN 177 LLC</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_FalconMSN177LLCMember" xlink:href="ftai-20240331.xsd#ftai_FalconMSN177LLCMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_FalconMSN177LLCMember" xlink:to="lab_ftai_FalconMSN177LLCMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_ca42c20a-b7f7-46e4-bb6c-243548d9f23d_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2028</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Asset, Expected Amortization, Year Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_LocalPhoneNumber_3542d754-5691-448f-a4f5-3a6052ff5dc0_terseLabel_en-US" xlink:label="lab_dei_LocalPhoneNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Local Phone Number</link:label>
    <link:label id="lab_dei_LocalPhoneNumber_label_en-US" xlink:label="lab_dei_LocalPhoneNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Local Phone Number</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_LocalPhoneNumber" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_LocalPhoneNumber"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_LocalPhoneNumber" xlink:to="lab_dei_LocalPhoneNumber" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncreaseDecreaseInAccountsReceivable_b0e22b5b-70b7-4b90-aa30-4776b94ee163_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Accounts receivable</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInAccountsReceivable_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Accounts Receivable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:to="lab_us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockDividendsPerShareDeclared_a7ef713e-31ee-45a7-92ff-6e6e6f18430e_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockDividendsPerShareDeclared" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock dividends declared (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_CommonStockDividendsPerShareDeclared_label_en-US" xlink:label="lab_us-gaap_CommonStockDividendsPerShareDeclared" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Dividends, Per Share, Declared</link:label>
    <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"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockDividendsPerShareDeclared" xlink:to="lab_us-gaap_CommonStockDividendsPerShareDeclared" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccountsReceivableMember_88d68ad3-6a78-4973-8be9-643973172508_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsReceivableMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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_7eaa689a-7300-4e85-976a-002fcf7c8d48_terseLabel_en-US" xlink:label="lab_ftai_MaintenanceDepositLiability" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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" xml:lang="en-US">Maintenance Deposit Liability</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_MaintenanceDepositLiability" xlink:href="ftai-20240331.xsd#ftai_MaintenanceDepositLiability"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_MaintenanceDepositLiability" xlink:to="lab_ftai_MaintenanceDepositLiability" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_FairValueAdjustmentOfGuarantees_586150e4-7119-4d42-b547-27a36caa6e72_negatedTerseLabel_en-US" xlink:label="lab_ftai_FairValueAdjustmentOfGuarantees" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Change in fair value of guarantees</link:label>
    <link:label id="lab_ftai_FairValueAdjustmentOfGuarantees_label_en-US" xlink:label="lab_ftai_FairValueAdjustmentOfGuarantees" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Adjustment of Guarantees</link:label>
    <link:label id="lab_ftai_FairValueAdjustmentOfGuarantees_documentation_en-US" xlink:label="lab_ftai_FairValueAdjustmentOfGuarantees" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair Value Adjustment of Guarantees</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_FairValueAdjustmentOfGuarantees" xlink:href="ftai-20240331.xsd#ftai_FairValueAdjustmentOfGuarantees"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_FairValueAdjustmentOfGuarantees" xlink:to="lab_ftai_FairValueAdjustmentOfGuarantees" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_SeniorNotesDue2027Member_6f53dc78-e598-4321-81e3-9b675f53eda0_terseLabel_en-US" xlink:label="lab_ftai_SeniorNotesDue2027Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Senior Notes due 2027</link:label>
    <link:label id="lab_ftai_SeniorNotesDue2027Member_label_en-US" xlink:label="lab_ftai_SeniorNotesDue2027Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Notes Due 2027 [Member]</link:label>
    <link:label id="lab_ftai_SeniorNotesDue2027Member_documentation_en-US" xlink:label="lab_ftai_SeniorNotesDue2027Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Senior Notes Due 2027</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_SeniorNotesDue2027Member" xlink:href="ftai-20240331.xsd#ftai_SeniorNotesDue2027Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_SeniorNotesDue2027Member" xlink:to="lab_ftai_SeniorNotesDue2027Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentNameDomain_45304cc4-9ec3-44c1-aaed-be83a8941504_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument, Name [Domain]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentNameDomain_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Name [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentNameDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtInstrumentNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentNameDomain" xlink:to="lab_us-gaap_DebtInstrumentNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_Depreciation_bd01020f-5d4f-4949-9739-93ff75c874ce_terseLabel_en-US" xlink:label="lab_us-gaap_Depreciation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation expense for leasing equipment</link:label>
    <link:label id="lab_us-gaap_Depreciation_label_en-US" xlink:label="lab_us-gaap_Depreciation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Depreciation" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_Depreciation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Depreciation" xlink:to="lab_us-gaap_Depreciation" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentLeasingEquipment_3bfc0d45-458d-48b6-9f9a-9ac74898dc70_negatedLabel_en-US" xlink:label="lab_ftai_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentLeasingEquipment" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Less: Accumulated depreciation</link:label>
    <link:label id="lab_ftai_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentLeasingEquipment_label_en-US" xlink:label="lab_ftai_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentLeasingEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment, Leasing Equipment</link:label>
    <link:label id="lab_ftai_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentLeasingEquipment_documentation_en-US" xlink:label="lab_ftai_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentLeasingEquipment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment, Leasing Equipment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentLeasingEquipment" xlink:href="ftai-20240331.xsd#ftai_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentLeasingEquipment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentLeasingEquipment" xlink:to="lab_ftai_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentLeasingEquipment" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_A800FixedToFloatingRateSeriesBCumulativePerpetualRedeemablePreferredSharesMember_4bbd6858-a904-45e9-b56b-3d969e091444_terseLabel_en-US" xlink:label="lab_ftai_A800FixedToFloatingRateSeriesBCumulativePerpetualRedeemablePreferredSharesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">8.00% Fixed-to-Floating Rate Series B Cumulative Perpetual Redeemable Preferred Shares</link:label>
    <link:label id="lab_ftai_A800FixedToFloatingRateSeriesBCumulativePerpetualRedeemablePreferredSharesMember_label_en-US" xlink:label="lab_ftai_A800FixedToFloatingRateSeriesBCumulativePerpetualRedeemablePreferredSharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">8.00% Fixed-to-Floating Rate Series B Cumulative Perpetual Redeemable Preferred Shares [Member]</link:label>
    <link:label id="lab_ftai_A800FixedToFloatingRateSeriesBCumulativePerpetualRedeemablePreferredSharesMember_documentation_en-US" xlink:label="lab_ftai_A800FixedToFloatingRateSeriesBCumulativePerpetualRedeemablePreferredSharesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">8.00% Fixed-to-Floating Rate Series B Cumulative Perpetual Redeemable Preferred Shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_A800FixedToFloatingRateSeriesBCumulativePerpetualRedeemablePreferredSharesMember" xlink:href="ftai-20240331.xsd#ftai_A800FixedToFloatingRateSeriesBCumulativePerpetualRedeemablePreferredSharesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_A800FixedToFloatingRateSeriesBCumulativePerpetualRedeemablePreferredSharesMember" xlink:to="lab_ftai_A800FixedToFloatingRateSeriesBCumulativePerpetualRedeemablePreferredSharesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeStatementLocationAxis_caada284-6bce-43fb-8e93-820dda32b509_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementLocationAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Statement Location [Axis]</link:label>
    <link:label id="lab_us-gaap_IncomeStatementLocationAxis_label_en-US" xlink:label="lab_us-gaap_IncomeStatementLocationAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Statement Location [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeStatementLocationAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncomeStatementLocationAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementLocationAxis" xlink:to="lab_us-gaap_IncomeStatementLocationAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock_d3f1571e-3467-4ea2-9929-7fd34624c2b3_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Long-term Debt Instruments</link:label>
    <link:label id="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Long-Term Debt Instruments [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfDebtInstrumentsTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:to="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_NoncashorPartNoncashAcquisitionMaintenanceDepositsBilledandAssumed_15647aeb-856d-477d-962b-53f37ddb0b8a_terseLabel_en-US" xlink:label="lab_ftai_NoncashorPartNoncashAcquisitionMaintenanceDepositsBilledandAssumed" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Settled maintenance deposits</link:label>
    <link:label id="lab_ftai_NoncashorPartNoncashAcquisitionMaintenanceDepositsBilledandAssumed_label_en-US" xlink:label="lab_ftai_NoncashorPartNoncashAcquisitionMaintenanceDepositsBilledandAssumed" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncash or Part Noncash Acquisition, Maintenance Deposits Billed and Assumed</link:label>
    <link:label id="lab_ftai_NoncashorPartNoncashAcquisitionMaintenanceDepositsBilledandAssumed_documentation_en-US" xlink:label="lab_ftai_NoncashorPartNoncashAcquisitionMaintenanceDepositsBilledandAssumed" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Noncash or Part Noncash Acquisition, Maintenance Deposits Billed and Assumed</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_NoncashorPartNoncashAcquisitionMaintenanceDepositsBilledandAssumed" xlink:href="ftai-20240331.xsd#ftai_NoncashorPartNoncashAcquisitionMaintenanceDepositsBilledandAssumed"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_NoncashorPartNoncashAcquisitionMaintenanceDepositsBilledandAssumed" xlink:to="lab_ftai_NoncashorPartNoncashAcquisitionMaintenanceDepositsBilledandAssumed" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_IncentiveDistributionPercentage_0ba7a098-ba95-4bc0-ada6-7e42d18cb2de_terseLabel_en-US" xlink:label="lab_ftai_IncentiveDistributionPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Incentive distribution percentage</link:label>
    <link:label id="lab_ftai_IncentiveDistributionPercentage_label_en-US" xlink:label="lab_ftai_IncentiveDistributionPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Incentive Distribution Percentage</link:label>
    <link:label id="lab_ftai_IncentiveDistributionPercentage_documentation_en-US" xlink:label="lab_ftai_IncentiveDistributionPercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Incentive Distribution Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_IncentiveDistributionPercentage" xlink:href="ftai-20240331.xsd#ftai_IncentiveDistributionPercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_IncentiveDistributionPercentage" xlink:to="lab_ftai_IncentiveDistributionPercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityMethodInvestmentsTextBlock_c3b20bc5-98fc-4b31-8961-0e4374309665_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Method Investments</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentsTextBlock_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestmentsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EquityMethodInvestmentsTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentsTextBlock" xlink:to="lab_us-gaap_EquityMethodInvestmentsTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_EuropeMember_1b02e368-b813-44f9-b3c1-c679ce0646a4_terseLabel_en-US" xlink:label="lab_srt_EuropeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Europe</link:label>
    <link:label id="lab_srt_EuropeMember_220a4fb6-583b-43f6-9c52-17ff3fd6a8b6_netLabel_en-US" xlink:label="lab_srt_EuropeMember" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Europe</link:label>
    <link:label id="lab_srt_EuropeMember_label_en-US" xlink:label="lab_srt_EuropeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Europe [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_EuropeMember" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_EuropeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_EuropeMember" xlink:to="lab_srt_EuropeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_EquipmentLeasingMember_c1ae264f-29e7-4add-8344-196fdfd69eda_terseLabel_en-US" xlink:label="lab_ftai_EquipmentLeasingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lease income</link:label>
    <link:label id="lab_ftai_EquipmentLeasingMember_label_en-US" xlink:label="lab_ftai_EquipmentLeasingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equipment Leasing [Member]</link:label>
    <link:label id="lab_ftai_EquipmentLeasingMember_documentation_en-US" xlink:label="lab_ftai_EquipmentLeasingMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Equipment Leasing [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_EquipmentLeasingMember" xlink:href="ftai-20240331.xsd#ftai_EquipmentLeasingMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_EquipmentLeasingMember" xlink:to="lab_ftai_EquipmentLeasingMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock_b060c6e4-00be-4ddc-8d67-ec17eea73a4e_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:to="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_Revenues_49dfb325-dd70-46ff-a6ce-167c063c0dc6_terseLabel_en-US" xlink:label="lab_us-gaap_Revenues" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total revenues</link:label>
    <link:label id="lab_us-gaap_Revenues_label_en-US" xlink:label="lab_us-gaap_Revenues" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenues</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Revenues" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_Revenues"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Revenues" xlink:to="lab_us-gaap_Revenues" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueByBalanceSheetGroupingTextBlock_7c195e71-8bfa-425d-b81b-045d7e5f7669_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByBalanceSheetGroupingTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, by Balance Sheet Grouping</link:label>
    <link:label id="lab_us-gaap_FairValueByBalanceSheetGroupingTextBlock_label_en-US" xlink:label="lab_us-gaap_FairValueByBalanceSheetGroupingTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, by Balance Sheet Grouping [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueByBalanceSheetGroupingTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueByBalanceSheetGroupingTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueByBalanceSheetGroupingTextBlock" xlink:to="lab_us-gaap_FairValueByBalanceSheetGroupingTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain_c55d825b-3bb6-4cef-bc5d-bf85e40097d4_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value by Liability Class [Domain]</link:label>
    <link:label id="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain_label_en-US" xlink:label="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value by Liability Class [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain" xlink:to="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_ProductsAndServicesDomain_444cf2a2-668e-487d-ba9c-56d5711ecb4a_terseLabel_en-US" xlink:label="lab_srt_ProductsAndServicesDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Product and Service [Domain]</link:label>
    <link:label id="lab_srt_ProductsAndServicesDomain_label_en-US" xlink:label="lab_srt_ProductsAndServicesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Product and Service [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ProductsAndServicesDomain" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_ProductsAndServicesDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ProductsAndServicesDomain" xlink:to="lab_srt_ProductsAndServicesDomain" xlink:type="arc" order="1"/>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInInventories" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncreaseDecreaseInInventories"/>
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    <link:label id="lab_us-gaap_OtherExpenses_115d239e-4364-4f0e-993d-ac99887ce56f_terseLabel_en-US" xlink:label="lab_us-gaap_OtherExpenses" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management fees and incentive allocation to affiliate</link:label>
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    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_b87ca810-6c73-4215-a18e-f684877b5beb_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flows from investing activities:</link:label>
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    <link:label id="lab_us-gaap_BusinessCombinationAcquisitionRelatedCosts_467f4dd4-bbc6-45a8-b993-c11d80599283_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationAcquisitionRelatedCosts" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Less: Acquisition and transaction expenses</link:label>
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    <link:label id="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_92e4860c-6408-4626-99da-bf01a0b55650_terseLabel_en-US" xlink:label="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Antidilutive shares (in shares)</link:label>
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    <link:label id="lab_us-gaap_AwardTypeAxis_a0c4f4cb-a553-4775-b96f-a238c6a0f84c_terseLabel_en-US" xlink:label="lab_us-gaap_AwardTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Type [Axis]</link:label>
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    <link:label id="lab_us-gaap_InterestExpense_93a79d58-6e98-4d56-be39-07a76d61dfe7_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest expense</link:label>
    <link:label id="lab_us-gaap_InterestExpense_label_en-US" xlink:label="lab_us-gaap_InterestExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense</link:label>
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    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_f9235e70-1a63-4faa-9a12-3236a4d0584e_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Shares authorized (in shares)</link:label>
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    <link:label id="lab_us-gaap_FinitelivedIntangibleAssetsAcquired1_21c33dcb-7cb0-4a1a-9fcc-8b2e928ae035_terseLabel_en-US" xlink:label="lab_us-gaap_FinitelivedIntangibleAssetsAcquired1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Estimated Fair value</link:label>
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    <link:label id="lab_us-gaap_LongtermDebtTypeDomain_fe3082b4-f429-4272-9397-c143af353de0_terseLabel_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-term Debt, Type [Domain]</link:label>
    <link:label id="lab_us-gaap_LongtermDebtTypeDomain_label_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Type [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongtermDebtTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongtermDebtTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongtermDebtTypeDomain" xlink:to="lab_us-gaap_LongtermDebtTypeDomain" xlink:type="arc" order="1"/>
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    <link:label id="lab_us-gaap_LossContingenciesTable_077358e4-0ad5-4436-9fbd-84e44071c728_terseLabel_en-US" xlink:label="lab_us-gaap_LossContingenciesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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_b36c3ea3-9a49-4d24-b8a4-bd61f124b17b_terseLabel_en-US" xlink:label="lab_us-gaap_OffMarketFavorableLeaseMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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_StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants_defd4502-730a-471a-a1c9-140feabdf73a_terseLabel_en-US" xlink:label="lab_us-gaap_StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Issuance of preferred shares</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants"/>
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    <link:label id="lab_us-gaap_DebtInstrumentUnamortizedDiscount_206d8054-402a-4290-b637-43d0e1d483e6_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedDiscount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" xml:lang="en-US">Debt Instrument, Unamortized Discount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentUnamortizedDiscount" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtInstrumentUnamortizedDiscount"/>
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    <link:label id="lab_ftai_PropertyPlantAndEquipmentExcludingLeasingEquipmentNet_6b908969-3b56-4dac-878f-b4379247f0fc_terseLabel_en-US" xlink:label="lab_ftai_PropertyPlantAndEquipmentExcludingLeasingEquipmentNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property, plant, and equipment, net</link:label>
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    <link:label id="lab_us-gaap_AmortizationOfIntangibleAssets_b76898f8-2327-4d4b-9268-6200fac6dbdc_terseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Customer relationships</link:label>
    <link:label id="lab_us-gaap_AmortizationOfIntangibleAssets_label_en-US" xlink:label="lab_us-gaap_AmortizationOfIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of Intangible Assets</link:label>
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    <link:label id="lab_us-gaap_SeriesDPreferredStockMember_43c428ce-14f9-4784-aa3c-a00a188c1b27_terseLabel_en-US" xlink:label="lab_us-gaap_SeriesDPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series D Preferred Stock</link:label>
    <link:label id="lab_us-gaap_SeriesDPreferredStockMember_label_en-US" xlink:label="lab_us-gaap_SeriesDPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series D Preferred Stock [Member]</link:label>
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    <link:label id="lab_us-gaap_BusinessAcquisitionAcquireeDomain_16a7fe3d-a90c-4db9-8fbc-0a2d36444f9a_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAcquireeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" xml:lang="en-US">Business Acquisition, Acquiree [Domain]</link:label>
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    <link:label id="lab_us-gaap_PaymentsForAdvanceToAffiliate_3a61509c-5b21-45bd-99d0-d6ad76aa8ade_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsForAdvanceToAffiliate" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Investment in unconsolidated entities</link:label>
    <link:label id="lab_us-gaap_PaymentsForAdvanceToAffiliate_label_en-US" xlink:label="lab_us-gaap_PaymentsForAdvanceToAffiliate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for Advance to Affiliate</link:label>
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    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNet_5c092803-f042-46cf-aa76-6f2b8464c3a7_totalLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Acquired customer relationships, net</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNet_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FiniteLivedIntangibleAssetsNet"/>
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    <link:label id="lab_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_5984ab80-9e68-4981-9382-e4404cef6640_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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_LoansPayableMember_eb3f717d-db95-48a1-9643-ebd848720022_terseLabel_en-US" xlink:label="lab_us-gaap_LoansPayableMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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_us-gaap_CommonStockSharesIssued_25253316-d24b-42e2-acdc-3346d17d09f5_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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_country_BM_954d1416-17f6-4281-a152-d1e29fb48a08_terseLabel_en-US" xlink:label="lab_country_BM" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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_e3431218-718b-41e5-a341-bc0ef2623475_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityCommitmentFeePercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Quarterly 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" 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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesAbstract_e762444f-150f-487a-8b56-8f50642b1532_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value of liabilities assumed:</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesAbstract_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesAbstract" xlink:to="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_SecurityExchangeName_72431f20-7ee7-427c-8944-73072a4e6234_terseLabel_en-US" xlink:label="lab_dei_SecurityExchangeName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Security Exchange Name</link:label>
    <link:label id="lab_dei_SecurityExchangeName_label_en-US" xlink:label="lab_dei_SecurityExchangeName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Security Exchange Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_SecurityExchangeName" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_SecurityExchangeName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_SecurityExchangeName" xlink:to="lab_dei_SecurityExchangeName" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebt_78eb0f1b-8335-497a-8d34-1839a9ed08a4_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total debt, net</link:label>
    <link:label id="lab_us-gaap_LongTermDebt_5559b7d5-e221-4de9-94f3-a512471d2c0d_totalLabel_en-US" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total debt, net</link:label>
    <link:label id="lab_us-gaap_LongTermDebt_label_en-US" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongTermDebt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebt" xlink:to="lab_us-gaap_LongTermDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonClassAMember_46a81d07-a62f-4f6d-b1db-7f56b54b0498_terseLabel_en-US" xlink:label="lab_us-gaap_CommonClassAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ordinary shares, $0.01 par value per share</link:label>
    <link:label id="lab_us-gaap_CommonClassAMember_label_en-US" xlink:label="lab_us-gaap_CommonClassAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Class A [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonClassAMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommonClassAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonClassAMember" xlink:to="lab_us-gaap_CommonClassAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CostsAndExpenses_d3f9d13e-b53c-40b8-be14-5fd8d87804d6_totalLabel_en-US" xlink:label="lab_us-gaap_CostsAndExpenses" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total expenses</link:label>
    <link:label id="lab_us-gaap_CostsAndExpenses_label_en-US" xlink:label="lab_us-gaap_CostsAndExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Costs and Expenses</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CostsAndExpenses" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CostsAndExpenses"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CostsAndExpenses" xlink:to="lab_us-gaap_CostsAndExpenses" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentRepurchasedFaceAmount_1c2fda49-0ad6-4387-8721-c0e9ad9eefd0_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentRepurchasedFaceAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repurchase of notes</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentRepurchasedFaceAmount_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentRepurchasedFaceAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Repurchased Face Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentRepurchasedFaceAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtInstrumentRepurchasedFaceAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentRepurchasedFaceAmount" xlink:to="lab_us-gaap_DebtInstrumentRepurchasedFaceAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MaximumMember_3d8b97b9-234c-46e0-b7a4-63bbb863a441_terseLabel_en-US" xlink:label="lab_srt_MaximumMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum</link:label>
    <link:label id="lab_srt_MaximumMember_label_en-US" xlink:label="lab_srt_MaximumMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maximum [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MaximumMember" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_MaximumMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MaximumMember" xlink:to="lab_srt_MaximumMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_68e175f9-616a-4e2a-aa8e-7d5c034feb95_terseLabel_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Remaining Expense To Be Recognized, If All Vesting Conditions Are Met</link:label>
    <link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_label_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:to="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentType_398f2c9c-99a9-494f-9d89-7156ec6b05b6_terseLabel_en-US" xlink:label="lab_dei_DocumentType" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
    <link:label id="lab_dei_DocumentType_label_en-US" xlink:label="lab_dei_DocumentType" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentType" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentType"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentType" xlink:to="lab_dei_DocumentType" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock_e83ee33c-e1b5-427f-9bbc-2b4806a87117_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Related Party Transactions</link:label>
    <link:label id="lab_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Related Party Transactions [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_RisksandUncertaintiesPolicyTextBlock_993ffa33-c01d-4376-b57c-7a908eeee252_terseLabel_en-US" xlink:label="lab_ftai_RisksandUncertaintiesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Risks and Uncertainties</link:label>
    <link:label id="lab_ftai_RisksandUncertaintiesPolicyTextBlock_label_en-US" xlink:label="lab_ftai_RisksandUncertaintiesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Risks and Uncertainties [Policy Text Block]</link:label>
    <link:label id="lab_ftai_RisksandUncertaintiesPolicyTextBlock_documentation_en-US" xlink:label="lab_ftai_RisksandUncertaintiesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Risks and Uncertainties [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_RisksandUncertaintiesPolicyTextBlock" xlink:href="ftai-20240331.xsd#ftai_RisksandUncertaintiesPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_RisksandUncertaintiesPolicyTextBlock" xlink:to="lab_ftai_RisksandUncertaintiesPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressAddressLine1_d7e80560-651f-470f-8f1d-0d0cdd98dba7_terseLabel_en-US" xlink:label="lab_dei_EntityAddressAddressLine1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, Address Line One</link:label>
    <link:label id="lab_dei_EntityAddressAddressLine1_label_en-US" xlink:label="lab_dei_EntityAddressAddressLine1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, Address Line One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressAddressLine1" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressAddressLine1" xlink:to="lab_dei_EntityAddressAddressLine1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InventoryPolicyTextBlock_8bb1cc17-3a44-4174-bd2c-7a80f795f6f4_terseLabel_en-US" xlink:label="lab_us-gaap_InventoryPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Inventory, net</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" 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_a3d4f536-77cd-424f-9ecb-8a0a300c3566_terseLabel_en-US" xlink:label="lab_ftai_CumulativePreferredReturnPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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" xml:lang="en-US">Cumulative Preferred Return Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_CumulativePreferredReturnPercentage" xlink:href="ftai-20240331.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_us-gaap_SubsequentEventTable_654ad470-468d-45b3-9ab1-b40e011d4005_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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_7d4caaa3-1e32-4afb-a584-a29ec3ca908f_terseLabel_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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_b27a49e6-eaed-44b3-88c6-6c15085ed880_terseLabel_en-US" xlink:label="lab_us-gaap_CurrentFederalTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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_e5eaa5c5-9030-4ab8-b333-880c02bc13c4_terseLabel_en-US" xlink:label="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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_8826ee51-8d22-4ed0-8759-0314a8e291e9_terseLabel_en-US" xlink:label="lab_ftai_EquipmentLeasingRevenuesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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" xml:lang="en-US">Equipment Leasing Revenues [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_EquipmentLeasingRevenuesMember" xlink:href="ftai-20240331.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_PaymentsOfDividendsPreferredStockAndPreferenceStock_e2843569-2d19-492b-a3cb-1ef44050fd1f_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Cash dividends - preferred shares</link:label>
    <link:label id="lab_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock_label_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments of Ordinary Dividends, Preferred Stock and Preference Stock</link:label>
    <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_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear_848dc9a6-1f40-48bb-9f6b-9b4bd5deb980_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Remainder of 2024</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Remainder of Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_OtherAssetsFinanceLeasesNet_3ae342d7-0c5e-4835-9d26-b088b66b1bff_terseLabel_en-US" xlink:label="lab_ftai_OtherAssetsFinanceLeasesNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" xml:lang="en-US">Other Assets, Finance Leases, Net</link:label>
    <link:label id="lab_ftai_OtherAssetsFinanceLeasesNet_documentation_en-US" xlink:label="lab_ftai_OtherAssetsFinanceLeasesNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Assets, Finance Leases, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_OtherAssetsFinanceLeasesNet" xlink:href="ftai-20240331.xsd#ftai_OtherAssetsFinanceLeasesNet"/>
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    <link:label id="lab_us-gaap_BusinessAcquisitionAxis_6193356c-76d7-487e-8a92-38dce24677ea_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems_91aac8b3-09fc-4e51-b73a-913e54eab3de_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]</link:label>
    <link:label id="lab_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems_label_en-US" xlink:label="lab_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems"/>
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    <link:label id="lab_us-gaap_SubsequentEventMember_0ba632d8-8c2a-4730-ac17-02242dd7fd4a_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Event</link:label>
    <link:label id="lab_us-gaap_SubsequentEventMember_label_en-US" xlink:label="lab_us-gaap_SubsequentEventMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event [Member]</link:label>
    <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_LeaseAgreementsMember_55fd7fc5-2e21-470f-8cc2-f4fccd747c2f_terseLabel_en-US" xlink:label="lab_us-gaap_LeaseAgreementsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lease intangibles</link:label>
    <link:label id="lab_us-gaap_LeaseAgreementsMember_label_en-US" xlink:label="lab_us-gaap_LeaseAgreementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lease Agreements [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LeaseAgreementsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LeaseAgreementsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LeaseAgreementsMember" xlink:to="lab_us-gaap_LeaseAgreementsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CustomerConcentrationRiskMember_85a30b33-3c12-430d-baa8-b8220e38e59b_terseLabel_en-US" xlink:label="lab_us-gaap_CustomerConcentrationRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Customer Concentration Risk</link:label>
    <link:label id="lab_us-gaap_CustomerConcentrationRiskMember_label_en-US" xlink:label="lab_us-gaap_CustomerConcentrationRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Customer Concentration Risk [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CustomerConcentrationRiskMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CustomerConcentrationRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CustomerConcentrationRiskMember" xlink:to="lab_us-gaap_CustomerConcentrationRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_f323867f-3e5a-4f65-870f-5cc8b3c86269_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">State and local</link:label>
    <link:label id="lab_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_label_en-US" xlink:label="lab_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred State and Local Income Tax Expense (Benefit)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xlink:to="lab_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_4660a74b-d4d3-4aab-b0af-93441123cb83_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Finite-Lived Intangible Assets and Liabilities</link:label>
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    <link:label id="lab_us-gaap_VariableRateAxis_49611d2a-5d8a-4a72-83e1-a0ccb54b3dfd_terseLabel_en-US" xlink:label="lab_us-gaap_VariableRateAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Rate [Axis]</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_VariableRateAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_VariableRateAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableRateAxis" xlink:to="lab_us-gaap_VariableRateAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_4adc5ebe-7d7f-4864-83ab-f161148b899d_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts payable and accrued liabilities</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Accounts Payable and Accrued Liabilities</link:label>
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    <link:label id="lab_us-gaap_IncomeStatementAbstract_d1759c01-0732-405e-9ad8-faeb86a9e349_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Statement</link:label>
    <link:label id="lab_us-gaap_IncomeStatementAbstract_label_en-US" xlink:label="lab_us-gaap_IncomeStatementAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Statement [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeStatementAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncomeStatementAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementAbstract" xlink:to="lab_us-gaap_IncomeStatementAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths_d76ed1b8-7163-43a1-958e-84b5021ff524_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2025</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Year One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_Security12bTitle_c1f8ef18-d90a-4b0c-b209-392522bd0ddf_terseLabel_en-US" xlink:label="lab_dei_Security12bTitle" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Title of 12(b) Security</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_dei_Security12bTitle" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_Security12bTitle"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_Security12bTitle" xlink:to="lab_dei_Security12bTitle" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesOther_204dd41e-5536-45f6-bb39-db467a39f0a0_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesOther" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other liabilities</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesOther_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesOther" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesOther" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesOther"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesOther" xlink:to="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesOther" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyDomain_a399f1d7-4fb2-4e21-8d3c-d441b62a5138_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party [Domain]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyDomain_label_en-US" xlink:label="lab_us-gaap_RelatedPartyDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party, Type [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RelatedPartyDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyDomain" xlink:to="lab_us-gaap_RelatedPartyDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BusinessCombinationDisclosureTextBlock_2bf8b36d-626e-4b82-ac2b-84bb5c235fe0_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquisition of QuickTurn</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessCombinationDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BusinessCombinationDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationDisclosureTextBlock" xlink:to="lab_us-gaap_BusinessCombinationDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss_e13cbb99-d920-4ff2-8d5e-a7214a3be865_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net income attributable to shareholders</link:label>
    <link:label id="lab_us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Acquisition, Pro Forma Net Income (Loss)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss" xlink:to="lab_us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OperatingSegmentsMember_a6247fb8-3a36-4b94-8c3e-238d26152c81_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingSegmentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Segments</link:label>
    <link:label id="lab_us-gaap_OperatingSegmentsMember_label_en-US" xlink:label="lab_us-gaap_OperatingSegmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Segments [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingSegmentsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OperatingSegmentsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingSegmentsMember" xlink:to="lab_us-gaap_OperatingSegmentsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_IncomeIncentiveAllocationThresholdAxis_f515595b-069e-469c-a596-0ab202a75eb4_terseLabel_en-US" xlink:label="lab_ftai_IncomeIncentiveAllocationThresholdAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Incentive Allocation Threshold [Axis]</link:label>
    <link:label id="lab_ftai_IncomeIncentiveAllocationThresholdAxis_label_en-US" xlink:label="lab_ftai_IncomeIncentiveAllocationThresholdAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Incentive Allocation Threshold [Axis]</link:label>
    <link:label id="lab_ftai_IncomeIncentiveAllocationThresholdAxis_documentation_en-US" xlink:label="lab_ftai_IncomeIncentiveAllocationThresholdAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Income Incentive Allocation Threshold [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_IncomeIncentiveAllocationThresholdAxis" xlink:href="ftai-20240331.xsd#ftai_IncomeIncentiveAllocationThresholdAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_IncomeIncentiveAllocationThresholdAxis" xlink:to="lab_ftai_IncomeIncentiveAllocationThresholdAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ClassOfStockLineItems_80cadfcb-6f25-48ec-bc2e-8d43e91864e6_terseLabel_en-US" xlink:label="lab_us-gaap_ClassOfStockLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Stock [Line Items]</link:label>
    <link:label id="lab_us-gaap_ClassOfStockLineItems_label_en-US" xlink:label="lab_us-gaap_ClassOfStockLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Stock [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ClassOfStockLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ClassOfStockLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ClassOfStockLineItems" xlink:to="lab_us-gaap_ClassOfStockLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_IncomeIncentiveAllocationMember_1a2cd3b1-c1d7-4b2d-b39b-62b41f6d5d81_terseLabel_en-US" xlink:label="lab_ftai_IncomeIncentiveAllocationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income incentive allocation</link:label>
    <link:label id="lab_ftai_IncomeIncentiveAllocationMember_label_en-US" xlink:label="lab_ftai_IncomeIncentiveAllocationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Incentive Allocation [Member]</link:label>
    <link:label id="lab_ftai_IncomeIncentiveAllocationMember_documentation_en-US" xlink:label="lab_ftai_IncomeIncentiveAllocationMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Income Incentive Allocation [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_IncomeIncentiveAllocationMember" xlink:href="ftai-20240331.xsd#ftai_IncomeIncentiveAllocationMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_IncomeIncentiveAllocationMember" xlink:to="lab_ftai_IncomeIncentiveAllocationMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeTaxDisclosureAbstract_9fc08082-4f3f-4a49-85eb-790dffc82c64_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Tax Disclosure [Abstract]</link:label>
    <link:label id="lab_us-gaap_IncomeTaxDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Disclosure [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncomeTaxDisclosureAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract" xlink:to="lab_us-gaap_IncomeTaxDisclosureAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_IncentivePlanMember_cffc2306-1755-47ed-9a5d-1f34314b2cae_terseLabel_en-US" xlink:label="lab_ftai_IncentivePlanMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Incentive Plan</link:label>
    <link:label id="lab_ftai_IncentivePlanMember_label_en-US" xlink:label="lab_ftai_IncentivePlanMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Incentive Plan [Member]</link:label>
    <link:label id="lab_ftai_IncentivePlanMember_documentation_en-US" xlink:label="lab_ftai_IncentivePlanMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Incentive Plan [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_IncentivePlanMember" xlink:href="ftai-20240331.xsd#ftai_IncentivePlanMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_IncentivePlanMember" xlink:to="lab_ftai_IncentivePlanMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_EquityMethodInvestmentContributionAmount_18b9b0c9-9d1b-4ac6-848e-371bbf0ed4e0_terseLabel_en-US" xlink:label="lab_ftai_EquityMethodInvestmentContributionAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity method investment contribution amount</link:label>
    <link:label id="lab_ftai_EquityMethodInvestmentContributionAmount_label_en-US" xlink:label="lab_ftai_EquityMethodInvestmentContributionAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment Contribution Amount</link:label>
    <link:label id="lab_ftai_EquityMethodInvestmentContributionAmount_documentation_en-US" xlink:label="lab_ftai_EquityMethodInvestmentContributionAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Equity Method Investment Contribution Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_EquityMethodInvestmentContributionAmount" xlink:href="ftai-20240331.xsd#ftai_EquityMethodInvestmentContributionAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_EquityMethodInvestmentContributionAmount" xlink:to="lab_ftai_EquityMethodInvestmentContributionAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_3196f229-d6b8-4b90-8f4d-ce7f98b19e8d_terseLabel_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Payment Arrangement [Abstract]</link:label>
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_label_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:to="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityTaxIdentificationNumber_081e1001-e3b9-4e64-9f80-05cacc3836d7_terseLabel_en-US" xlink:label="lab_dei_EntityTaxIdentificationNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Tax Identification Number</link:label>
    <link:label id="lab_dei_EntityTaxIdentificationNumber_label_en-US" xlink:label="lab_dei_EntityTaxIdentificationNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Tax Identification Number</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityTaxIdentificationNumber" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityTaxIdentificationNumber"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityTaxIdentificationNumber" xlink:to="lab_dei_EntityTaxIdentificationNumber" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DividendsPreferredStock_6ea507bb-ee60-4372-adc8-4cd13c2327b8_terseLabel_en-US" xlink:label="lab_us-gaap_DividendsPreferredStock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Less: Dividends on preferred shares</link:label>
    <link:label id="lab_us-gaap_DividendsPreferredStock_label_en-US" xlink:label="lab_us-gaap_DividendsPreferredStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends, Preferred Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsPreferredStock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DividendsPreferredStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsPreferredStock" xlink:to="lab_us-gaap_DividendsPreferredStock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityMethodInvestments_ff658688-917e-4e88-a3f7-00363602c755_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestments_94ad334f-c01f-4d9f-86e3-077ac755c34f_verboseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Carrying Value</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestments_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestments" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EquityMethodInvestments"/>
    <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_7099207a-c2a0-4343-9e0e-3eacd1055e5f_terseLabel_en-US" xlink:label="lab_us-gaap_CurrentFederalStateAndLocalTaxExpenseBenefitAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" xml:lang="en-US">Current Federal, State and Local, Tax Expense (Benefit) [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CurrentFederalStateAndLocalTaxExpenseBenefitAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CurrentFederalStateAndLocalTaxExpenseBenefitAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CurrentFederalStateAndLocalTaxExpenseBenefitAbstract" xlink:to="lab_us-gaap_CurrentFederalStateAndLocalTaxExpenseBenefitAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseNet_56b4642f-85dc-483e-848e-eec5997cca02_totalLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Acquired unfavorable lease intangibles, net</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseNet_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Net</link:label>
    <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_f26e46c6-6020-49f3-9267-174a338e7b6d_terseLabel_en-US" xlink:label="lab_us-gaap_InventoryNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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_ftai_LessorOperatingLeasePaymentToBeReceivedAfterYearFour_c57a3432-4218-4173-94e2-40a4f45d893e_terseLabel_en-US" xlink:label="lab_ftai_LessorOperatingLeasePaymentToBeReceivedAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Thereafter</link:label>
    <link:label id="lab_ftai_LessorOperatingLeasePaymentToBeReceivedAfterYearFour_label_en-US" xlink:label="lab_ftai_LessorOperatingLeasePaymentToBeReceivedAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, after Year Four</link:label>
    <link:label id="lab_ftai_LessorOperatingLeasePaymentToBeReceivedAfterYearFour_documentation_en-US" xlink:label="lab_ftai_LessorOperatingLeasePaymentToBeReceivedAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, after Year Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_LessorOperatingLeasePaymentToBeReceivedAfterYearFour" xlink:href="ftai-20240331.xsd#ftai_LessorOperatingLeasePaymentToBeReceivedAfterYearFour"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_LessorOperatingLeasePaymentToBeReceivedAfterYearFour" xlink:to="lab_ftai_LessorOperatingLeasePaymentToBeReceivedAfterYearFour" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LandMember_107b6bd7-46b0-4909-baee-bc0defabb9bc_terseLabel_en-US" xlink:label="lab_us-gaap_LandMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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_62ca0e01-e19f-47de-a326-f19f9ae06619_terseLabel_en-US" xlink:label="lab_srt_RangeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statistical Measurement [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" 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_db42bad7-62e7-49fb-b3c6-81e9e0f43c41_terseLabel_en-US" xlink:label="lab_us-gaap_BalanceSheetLocationDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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_dei_EntityInteractiveDataCurrent_b4581dbc-58fc-411f-b49a-17f0a4c4eac7_terseLabel_en-US" xlink:label="lab_dei_EntityInteractiveDataCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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_34c50787-74b1-4186-97b2-da0b8ac0a84a_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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_2cfcacf7-b530-48cd-a084-20a9d6557c37_terseLabel_en-US" xlink:label="lab_ftai_AccountingPoliciesLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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" 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-20240331.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_OtherAssetsLeaseIncentives_55af2917-b32b-47a5-9e72-bb99b463df64_terseLabel_en-US" xlink:label="lab_ftai_OtherAssetsLeaseIncentives" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lease incentives</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" 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" xml:lang="en-US">Other Assets, Lease Incentives</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_OtherAssetsLeaseIncentives" xlink:href="ftai-20240331.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"/>
    <link:label id="lab_dei_EntityCommonStockSharesOutstanding_a43490a3-44be-40bc-935c-f2faa533ff18_terseLabel_en-US" xlink:label="lab_dei_EntityCommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Common Stock, Shares Outstanding</link:label>
    <link:label id="lab_dei_EntityCommonStockSharesOutstanding_label_en-US" xlink:label="lab_dei_EntityCommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Common Stock, Shares Outstanding</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityCommonStockSharesOutstanding" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCommonStockSharesOutstanding"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCommonStockSharesOutstanding" xlink:to="lab_dei_EntityCommonStockSharesOutstanding" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DeferredForeignIncomeTaxExpenseBenefit_aa40439d-c759-45d9-a4b8-48958a01d278_verboseLabel_en-US" xlink:label="lab_us-gaap_DeferredForeignIncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Foreign</link:label>
    <link:label id="lab_us-gaap_DeferredForeignIncomeTaxExpenseBenefit_a2b292d3-b043-4542-841e-78c32ee4d071_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredForeignIncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-U.S.</link:label>
    <link:label id="lab_us-gaap_DeferredForeignIncomeTaxExpenseBenefit_9bbd4543-ce98-479c-9622-483f970ae20b_negatedLabel_en-US" xlink:label="lab_us-gaap_DeferredForeignIncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Deferred tax asset (liability)</link:label>
    <link:label id="lab_us-gaap_DeferredForeignIncomeTaxExpenseBenefit_label_en-US" xlink:label="lab_us-gaap_DeferredForeignIncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Foreign Income Tax Expense (Benefit)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredForeignIncomeTaxExpenseBenefit" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DeferredForeignIncomeTaxExpenseBenefit"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredForeignIncomeTaxExpenseBenefit" xlink:to="lab_us-gaap_DeferredForeignIncomeTaxExpenseBenefit" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherAssetsMember_beca7af7-f97b-42a3-88e0-3dcec1ebe657_terseLabel_en-US" xlink:label="lab_us-gaap_OtherAssetsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Assets</link:label>
    <link:label id="lab_us-gaap_OtherAssetsMember_label_en-US" xlink:label="lab_us-gaap_OtherAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Assets [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherAssetsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherAssetsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherAssetsMember" xlink:to="lab_us-gaap_OtherAssetsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SegmentDomain_bd65902f-40e4-456d-ad17-09e5dd3e53ca_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Segments [Domain]</link:label>
    <link:label id="lab_us-gaap_SegmentDomain_label_en-US" xlink:label="lab_us-gaap_SegmentDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segments [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SegmentDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SegmentDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentDomain" xlink:to="lab_us-gaap_SegmentDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_QuickTurnEngineCenterLLCMember_f87b4c46-6b59-4d14-b835-c89ac9bd80d0_terseLabel_en-US" xlink:label="lab_ftai_QuickTurnEngineCenterLLCMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Quick Turn Engine Center LLC</link:label>
    <link:label id="lab_ftai_QuickTurnEngineCenterLLCMember_label_en-US" xlink:label="lab_ftai_QuickTurnEngineCenterLLCMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Quick Turn Engine Center LLC [Member]</link:label>
    <link:label id="lab_ftai_QuickTurnEngineCenterLLCMember_documentation_en-US" xlink:label="lab_ftai_QuickTurnEngineCenterLLCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Quick Turn Engine Center LLC</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_QuickTurnEngineCenterLLCMember" xlink:href="ftai-20240331.xsd#ftai_QuickTurnEngineCenterLLCMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_QuickTurnEngineCenterLLCMember" xlink:to="lab_ftai_QuickTurnEngineCenterLLCMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_99fc033a-8545-4693-98d7-de3148021ff8_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MembersEquityAbstract_97ed0847-d1c6-4d89-9795-eaa819c9e788_terseLabel_en-US" xlink:label="lab_us-gaap_MembersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity</link:label>
    <link:label id="lab_us-gaap_MembersEquityAbstract_label_en-US" xlink:label="lab_us-gaap_MembersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Members' Equity [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MembersEquityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_MembersEquityAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MembersEquityAbstract" xlink:to="lab_us-gaap_MembersEquityAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_ConsolidationItemsDomain_cc3ac80b-3cbc-4309-990d-2f4c62ae7dc9_terseLabel_en-US" xlink:label="lab_srt_ConsolidationItemsDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidation Items [Domain]</link:label>
    <link:label id="lab_srt_ConsolidationItemsDomain_label_en-US" xlink:label="lab_srt_ConsolidationItemsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidation Items [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ConsolidationItemsDomain" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_ConsolidationItemsDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ConsolidationItemsDomain" xlink:to="lab_srt_ConsolidationItemsDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RetainedEarningsAccumulatedDeficit_b4f37d8b-5759-4cbe-a92a-71ead394bf94_terseLabel_en-US" xlink:label="lab_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated deficit</link:label>
    <link:label id="lab_us-gaap_RetainedEarningsAccumulatedDeficit_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained Earnings (Accumulated Deficit)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RetainedEarningsAccumulatedDeficit"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:to="lab_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_dd05ae21-f66e-41d9-86c1-84e69fbf8615_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies Disclosure [Abstract]</link:label>
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies Disclosure [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:to="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock_5880d436-2bb1-493b-ac14-51b08c5c693c_terseLabel_en-US" xlink:label="lab_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenues</link:label>
    <link:label id="lab_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue from Contract with Customer [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RevenueFromContractWithCustomerPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock" xlink:to="lab_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_ManagementFeesMember_cc5b125c-7015-4d61-8b7a-eb5b50ffdfbc_terseLabel_en-US" xlink:label="lab_ftai_ManagementFeesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management fees</link:label>
    <link:label id="lab_ftai_ManagementFeesMember_label_en-US" xlink:label="lab_ftai_ManagementFeesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management Fees [Member]</link:label>
    <link:label id="lab_ftai_ManagementFeesMember_documentation_en-US" xlink:label="lab_ftai_ManagementFeesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Management Fees [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_ManagementFeesMember" xlink:href="ftai-20240331.xsd#ftai_ManagementFeesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_ManagementFeesMember" xlink:to="lab_ftai_ManagementFeesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentFaceAmount_19a37551-09d7-4258-962b-69c964eebcc8_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentFaceAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt instrument face amount</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentFaceAmount_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentFaceAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Face Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentFaceAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtInstrumentFaceAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentFaceAmount" xlink:to="lab_us-gaap_DebtInstrumentFaceAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityIncorporationStateCountryCode_0590ddc0-7cfe-469f-8858-0172bc9e5ff4_terseLabel_en-US" xlink:label="lab_dei_EntityIncorporationStateCountryCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Incorporation, State or Country Code</link:label>
    <link:label id="lab_dei_EntityIncorporationStateCountryCode_label_en-US" xlink:label="lab_dei_EntityIncorporationStateCountryCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Incorporation, State or Country Code</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityIncorporationStateCountryCode" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityIncorporationStateCountryCode"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityIncorporationStateCountryCode" xlink:to="lab_dei_EntityIncorporationStateCountryCode" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LeasesAbstract_81df1ab5-32dd-4432-b3b9-da4cfd110b30_terseLabel_en-US" xlink:label="lab_us-gaap_LeasesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Leases [Abstract]</link:label>
    <link:label id="lab_us-gaap_LeasesAbstract_label_en-US" xlink:label="lab_us-gaap_LeasesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Leases [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LeasesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LeasesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LeasesAbstract" xlink:to="lab_us-gaap_LeasesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressStateOrProvince_7a6a6606-8646-44a4-aa45-0c558284ac06_terseLabel_en-US" xlink:label="lab_dei_EntityAddressStateOrProvince" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" xml:lang="en-US">Entity Address, State or Province</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressStateOrProvince" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressStateOrProvince"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressStateOrProvince" xlink:to="lab_dei_EntityAddressStateOrProvince" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_87b3ddbe-ea59-4c6a-91f8-3e2964ee3584_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flows from operating activities:</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Operating Activities [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_5e0ca87e-d076-484e-9d6a-0bb6ed51adea_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Related Party Transactions, by Related Party [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Related Party Transactions, by Related Party [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_76f6ee56-b12b-48ca-88d6-e476f504f288_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2025</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Asset, Expected Amortization, Year One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_RelatedPartyTransactionManagementFeePercentFee_ab504488-2194-41e5-908f-c9d4c8ddfe59_terseLabel_en-US" xlink:label="lab_ftai_RelatedPartyTransactionManagementFeePercentFee" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" xml:lang="en-US">Related Party Transaction, Management Fee, Percent Fee</link:label>
    <link:label id="lab_ftai_RelatedPartyTransactionManagementFeePercentFee_documentation_en-US" xlink:label="lab_ftai_RelatedPartyTransactionManagementFeePercentFee" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Management Fee, Percent Fee</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_RelatedPartyTransactionManagementFeePercentFee" xlink:href="ftai-20240331.xsd#ftai_RelatedPartyTransactionManagementFeePercentFee"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_RelatedPartyTransactionManagementFeePercentFee" xlink:to="lab_ftai_RelatedPartyTransactionManagementFeePercentFee" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseAbstract_4acc085d-69bc-447a-8356-0d77db881942_terseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible liabilities</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAbstract_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BelowMarketLeaseAbstract"/>
    <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_1937ba84-f8a7-4fda-bb53-4880f5b12119_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Stock-based Compensation Arrangements</link:label>
    <link:label id="lab_us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Cost by Plan [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockSharesOutstanding_a487f3b9-e22b-48ab-b0e3-f4b1a4ea85bf_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, shares outstanding (in shares)</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesOutstanding_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares, Outstanding</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockSharesOutstanding" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommonStockSharesOutstanding"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesOutstanding" xlink:to="lab_us-gaap_CommonStockSharesOutstanding" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EarningsPerShareBasicAbstract_96162798-3cbd-46a4-b8a0-df7da61d6720_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasicAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Earnings per share:</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareBasicAbstract_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasicAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share, Basic [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerShareBasicAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EarningsPerShareBasicAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareBasicAbstract" xlink:to="lab_us-gaap_EarningsPerShareBasicAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherIncomeAndExpensesAbstract_1725aab4-df81-43b8-b9de-da11b8e288f8_terseLabel_en-US" xlink:label="lab_us-gaap_OtherIncomeAndExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other income (expense)</link:label>
    <link:label id="lab_us-gaap_OtherIncomeAndExpensesAbstract_label_en-US" xlink:label="lab_us-gaap_OtherIncomeAndExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Income and Expenses [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherIncomeAndExpensesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherIncomeAndExpensesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherIncomeAndExpensesAbstract" xlink:to="lab_us-gaap_OtherIncomeAndExpensesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LossContingencyEstimateOfPossibleLoss_5c5aba83-2f8c-46fa-848f-11d934931d2b_terseLabel_en-US" xlink:label="lab_us-gaap_LossContingencyEstimateOfPossibleLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loss contingency, estimate of possible loss</link:label>
    <link:label id="lab_us-gaap_LossContingencyEstimateOfPossibleLoss_label_en-US" xlink:label="lab_us-gaap_LossContingencyEstimateOfPossibleLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loss Contingency, Estimate of Possible Loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LossContingencyEstimateOfPossibleLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LossContingencyEstimateOfPossibleLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LossContingencyEstimateOfPossibleLoss" xlink:to="lab_us-gaap_LossContingencyEstimateOfPossibleLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherReceivables_661c2b68-0470-4f69-98ae-06c188c0e263_terseLabel_en-US" xlink:label="lab_us-gaap_OtherReceivables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes receivable</link:label>
    <link:label id="lab_us-gaap_OtherReceivables_label_en-US" xlink:label="lab_us-gaap_OtherReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Receivables</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherReceivables" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherReceivables"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherReceivables" xlink:to="lab_us-gaap_OtherReceivables" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock_f48401fc-65cd-4914-9bbb-832621fd00e5_verboseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Summary of Contracted Minimum Future Annual Revenues</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Maturity [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConcentrationRiskCreditRisk_d5441c00-c2e8-4073-ac41-54acd47a7b07_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskCreditRisk" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Concentration of Credit Risk</link:label>
    <link:label id="lab_us-gaap_ConcentrationRiskCreditRisk_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskCreditRisk" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk, Credit Risk, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskCreditRisk" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ConcentrationRiskCreditRisk"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConcentrationRiskCreditRisk" xlink:to="lab_us-gaap_ConcentrationRiskCreditRisk" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherCostAndExpenseOperating_57680d41-144b-430b-add3-938b67740b93_terseLabel_en-US" xlink:label="lab_us-gaap_OtherCostAndExpenseOperating" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" xml:lang="en-US">Other Cost and Expense, Operating</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherCostAndExpenseOperating" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherCostAndExpenseOperating"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherCostAndExpenseOperating" xlink:to="lab_us-gaap_OtherCostAndExpenseOperating" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherOperatingActivitiesCashFlowStatement_73ed0b68-2c49-4e3f-a50a-0175fbde8ab5_terseLabel_en-US" xlink:label="lab_us-gaap_OtherOperatingActivitiesCashFlowStatement" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" xml:lang="en-US">Other Operating Activities, Cash Flow Statement</link:label>
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    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_da8a8068-338b-46e9-ae56-dcd715d40273_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash used in investing activities</link:label>
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    <link:label id="lab_us-gaap_BelowMarketLeaseGross_9ebe3246-cf9c-42b8-a497-1773892739de_terseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseGross" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquired unfavorable lease intangibles</link:label>
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    <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" xml:lang="en-US">Customer [Domain]</link:label>
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    <link:label id="lab_us-gaap_SeriesBPreferredStockMember_54aa7934-8063-4252-b4cd-3ff6668b6754_terseLabel_en-US" xlink:label="lab_us-gaap_SeriesBPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series B Preferred Stock</link:label>
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    <link:label id="lab_us-gaap_PropertySubjectToOrAvailableForOperatingLeaseByMajorPropertyClassTable_17bc89be-2159-4377-9cba-3ee39e14751f_terseLabel_en-US" xlink:label="lab_us-gaap_PropertySubjectToOrAvailableForOperatingLeaseByMajorPropertyClassTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property Subject to or Available for Operating Lease, by Major Property Class [Table]</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertySubjectToOrAvailableForOperatingLeaseByMajorPropertyClassTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PropertySubjectToOrAvailableForOperatingLeaseByMajorPropertyClassTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertySubjectToOrAvailableForOperatingLeaseByMajorPropertyClassTable" xlink:to="lab_us-gaap_PropertySubjectToOrAvailableForOperatingLeaseByMajorPropertyClassTable" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_A825FixedRateResetSeriesCCumulativePerpetualRedeemablePreferredSharesMember_dd7d11a5-509f-4dc6-b629-4c533162be09_terseLabel_en-US" xlink:label="lab_ftai_A825FixedRateResetSeriesCCumulativePerpetualRedeemablePreferredSharesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">8.25% Fixed-Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares</link:label>
    <link:label id="lab_ftai_A825FixedRateResetSeriesCCumulativePerpetualRedeemablePreferredSharesMember_label_en-US" xlink:label="lab_ftai_A825FixedRateResetSeriesCCumulativePerpetualRedeemablePreferredSharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">8.25% Fixed-Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares [Member]</link:label>
    <link:label id="lab_ftai_A825FixedRateResetSeriesCCumulativePerpetualRedeemablePreferredSharesMember_documentation_en-US" xlink:label="lab_ftai_A825FixedRateResetSeriesCCumulativePerpetualRedeemablePreferredSharesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">8.25% Fixed-Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_A825FixedRateResetSeriesCCumulativePerpetualRedeemablePreferredSharesMember" xlink:href="ftai-20240331.xsd#ftai_A825FixedRateResetSeriesCCumulativePerpetualRedeemablePreferredSharesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_A825FixedRateResetSeriesCCumulativePerpetualRedeemablePreferredSharesMember" xlink:to="lab_ftai_A825FixedRateResetSeriesCCumulativePerpetualRedeemablePreferredSharesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears_074b45f3-921c-4fb0-9430-a8daf981e7a0_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2027</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Year Three</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockDividendsPerShareDeclared_825577fb-7fe4-48fa-9cbb-cf7f9c6ec5e9_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockDividendsPerShareDeclared" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock dividends declared (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_PreferredStockDividendsPerShareDeclared_label_en-US" xlink:label="lab_us-gaap_PreferredStockDividendsPerShareDeclared" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Dividends Per Share, Declared</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockDividendsPerShareDeclared" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PreferredStockDividendsPerShareDeclared"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockDividendsPerShareDeclared" xlink:to="lab_us-gaap_PreferredStockDividendsPerShareDeclared" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PlanNameAxis_70cbaeab-42ac-4f01-aa48-e1f7285c242a_terseLabel_en-US" xlink:label="lab_us-gaap_PlanNameAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Plan Name [Axis]</link:label>
    <link:label id="lab_us-gaap_PlanNameAxis_label_en-US" xlink:label="lab_us-gaap_PlanNameAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Plan Name [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PlanNameAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PlanNameAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PlanNameAxis" xlink:to="lab_us-gaap_PlanNameAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtDisclosureAbstract_66ac9f8e-750a-4feb-b26b-b8b6edacf685_terseLabel_en-US" xlink:label="lab_us-gaap_DebtDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Disclosure [Abstract]</link:label>
    <link:label id="lab_us-gaap_DebtDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_DebtDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Disclosure [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtDisclosureAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtDisclosureAbstract" xlink:to="lab_us-gaap_DebtDisclosureAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_NorthAmericaMember_6dfe4d86-e5f1-41f7-856d-0a83ec71d860_terseLabel_en-US" xlink:label="lab_srt_NorthAmericaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">North America</link:label>
    <link:label id="lab_srt_NorthAmericaMember_155f5ace-13b0-46c1-8d08-53e60f0d410a_netLabel_en-US" xlink:label="lab_srt_NorthAmericaMember" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">North America</link:label>
    <link:label id="lab_srt_NorthAmericaMember_label_en-US" xlink:label="lab_srt_NorthAmericaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">North America [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_NorthAmericaMember" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_NorthAmericaMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_NorthAmericaMember" xlink:to="lab_srt_NorthAmericaMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionDomain_520cdfda-be60-4ec5-8aa0-444cb6a5f954_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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_1c9833d8-b355-4922-b216-47c4cc86b061_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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_bb17f92c-19b3-4a43-a361-6ffabcb0dd77_terseLabel_en-US" xlink:label="lab_us-gaap_OtherIncomeDisclosureNonoperatingAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other (expense) income</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" 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_us-gaap_NumberOfReportableSegments_f6cec05e-94ae-4634-b747-d900d19941f8_terseLabel_en-US" xlink:label="lab_us-gaap_NumberOfReportableSegments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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_cb31acde-62b8-413d-998e-187f488e6d13_terseLabel_en-US" xlink:label="lab_ftai_AdjustedNetIncomeLossAttributabletoNonControllingInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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" 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-20240331.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_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" 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_003c6059-74bf-4e46-9639-cd2ce2b5592d_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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_c338b4d7-20aa-4577-9b05-6ea0a0683cb7_terseLabel_en-US" xlink:label="lab_ftai_IntangibleAssetsandLiabilitiesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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" 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-20240331.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_24c2c624-3d82-4fb4-8461-01a1eded7d76_terseLabel_en-US" xlink:label="lab_srt_AffiliatedEntityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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_b72cc224-21b4-4382-8958-b5b79683c500_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ordinary shares ($0.01 par value per share; 2,000,000,000 shares authorized; 100,245,905 and 100,245,905 shares issued and outstanding as of March&#160;31, 2024 and December&#160;31, 2023, 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" 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_6d07b5f0-14d8-43c5-b5ed-70fe9d7ebbaa_terseLabel_en-US" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">General and administrative</link:label>
    <link:label id="lab_us-gaap_GeneralAndAdministrativeExpense_a68f6abb-9de0-4222-a56c-8c8a8142c145_verboseLabel_en-US" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" 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" 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_ftai_CustomerOneMember_77f400b9-33ac-423b-b87b-bf93eb523ea2_terseLabel_en-US" xlink:label="lab_ftai_CustomerOneMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Customer One</link:label>
    <link:label id="lab_ftai_CustomerOneMember_label_en-US" xlink:label="lab_ftai_CustomerOneMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Customer One [Member]</link:label>
    <link:label id="lab_ftai_CustomerOneMember_documentation_en-US" xlink:label="lab_ftai_CustomerOneMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Customer One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_CustomerOneMember" xlink:href="ftai-20240331.xsd#ftai_CustomerOneMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_CustomerOneMember" xlink:to="lab_ftai_CustomerOneMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_a6ff1754-5355-4977-8838-726c90bfc3e0_terseLabel_en-US" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements [Abstract]</link:label>
    <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" 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_AcquisitionofLeaseIntangiblesNet_8b031403-4849-4e3d-b0ea-b6a320cc63b2_verboseLabel_en-US" xlink:label="lab_ftai_AcquisitionofLeaseIntangiblesNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Acquisition of lease intangibles</link:label>
    <link:label id="lab_ftai_AcquisitionofLeaseIntangiblesNet_label_en-US" xlink:label="lab_ftai_AcquisitionofLeaseIntangiblesNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Acquisition of Lease Intangibles, Net</link:label>
    <link:label id="lab_ftai_AcquisitionofLeaseIntangiblesNet_documentation_en-US" xlink:label="lab_ftai_AcquisitionofLeaseIntangiblesNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Acquisition of Lease Intangibles, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_AcquisitionofLeaseIntangiblesNet" xlink:href="ftai-20240331.xsd#ftai_AcquisitionofLeaseIntangiblesNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_AcquisitionofLeaseIntangiblesNet" xlink:to="lab_ftai_AcquisitionofLeaseIntangiblesNet" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_GuarantorObligationsLeaseTerm_279d25fe-fb29-4b7b-997b-3e2da338d362_terseLabel_en-US" xlink:label="lab_ftai_GuarantorObligationsLeaseTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Guarantor obligations, 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" 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" xml:lang="en-US">Guarantor Obligations, Lease Term</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_GuarantorObligationsLeaseTerm" xlink:href="ftai-20240331.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_1957e36c-fa69-409a-9722-7da817dac909_terseLabel_en-US" xlink:label="lab_us-gaap_CurrentStateAndLocalTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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_0cc1905e-415c-4f42-bca9-577e7cd6317c_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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_b6b519f1-b22b-4539-8052-6676c4d2dded_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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_ftai_EquityMethodInvestmentProRataDistributionOfIncomePercent_40bf1e09-d1a4-4d31-9ea5-eec324fecc70_terseLabel_en-US" xlink:label="lab_ftai_EquityMethodInvestmentProRataDistributionOfIncomePercent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pro rata distribution of income</link:label>
    <link:label id="lab_ftai_EquityMethodInvestmentProRataDistributionOfIncomePercent_label_en-US" xlink:label="lab_ftai_EquityMethodInvestmentProRataDistributionOfIncomePercent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Pro Rata Distribution of Income, Percent</link:label>
    <link:label id="lab_ftai_EquityMethodInvestmentProRataDistributionOfIncomePercent_documentation_en-US" xlink:label="lab_ftai_EquityMethodInvestmentProRataDistributionOfIncomePercent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Pro Rata Distribution of Income, Percent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_EquityMethodInvestmentProRataDistributionOfIncomePercent" xlink:href="ftai-20240331.xsd#ftai_EquityMethodInvestmentProRataDistributionOfIncomePercent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_EquityMethodInvestmentProRataDistributionOfIncomePercent" xlink:to="lab_ftai_EquityMethodInvestmentProRataDistributionOfIncomePercent" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AssetImpairmentCharges_7cd674bd-dde1-4a34-8ce4-f3be4ba336ce_verboseLabel_en-US" xlink:label="lab_us-gaap_AssetImpairmentCharges" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Asset impairment</link:label>
    <link:label id="lab_us-gaap_AssetImpairmentCharges_d1801f86-1361-4e8c-a7c9-a40719c2e5e6_terseLabel_en-US" xlink:label="lab_us-gaap_AssetImpairmentCharges" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Asset impairment</link:label>
    <link:label id="lab_us-gaap_AssetImpairmentCharges_e1bb9417-2e41-45c4-a547-5b853268341a_negatedLabel_en-US" xlink:label="lab_us-gaap_AssetImpairmentCharges" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Less: Asset impairment charges</link:label>
    <link:label id="lab_us-gaap_AssetImpairmentCharges_label_en-US" xlink:label="lab_us-gaap_AssetImpairmentCharges" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Impairment Charges</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetImpairmentCharges" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AssetImpairmentCharges"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetImpairmentCharges" xlink:to="lab_us-gaap_AssetImpairmentCharges" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccountsReceivableNet_54bf2c84-bb8a-41c8-a921-fea350b890ad_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsReceivableNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts receivable, net</link:label>
    <link:label id="lab_us-gaap_AccountsReceivableNet_label_en-US" xlink:label="lab_us-gaap_AccountsReceivableNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts Receivable, after Allowance for Credit Loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsReceivableNet" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AccountsReceivableNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsReceivableNet" xlink:to="lab_us-gaap_AccountsReceivableNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RestrictedCash_1bd0cddc-8009-467a-9c6c-98a1d8ea5cb3_terseLabel_en-US" xlink:label="lab_us-gaap_RestrictedCash" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" xml:lang="en-US">Restricted Cash</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestrictedCash" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RestrictedCash"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestrictedCash" xlink:to="lab_us-gaap_RestrictedCash" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SupplementalCashFlowInformationAbstract_d78f0b44-d9a9-4f09-bd2a-402c7efe4024_terseLabel_en-US" xlink:label="lab_us-gaap_SupplementalCashFlowInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Supplemental disclosure of non-cash investing and financing activities:</link:label>
    <link:label id="lab_us-gaap_SupplementalCashFlowInformationAbstract_label_en-US" xlink:label="lab_us-gaap_SupplementalCashFlowInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Supplemental Cash Flow Information [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SupplementalCashFlowInformationAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SupplementalCashFlowInformationAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SupplementalCashFlowInformationAbstract" xlink:to="lab_us-gaap_SupplementalCashFlowInformationAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_AfricaMember_8dbd9509-58ef-437e-ab47-26c341ff834d_terseLabel_en-US" xlink:label="lab_srt_AfricaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Africa</link:label>
    <link:label id="lab_srt_AfricaMember_label_en-US" xlink:label="lab_srt_AfricaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Africa [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_AfricaMember" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_AfricaMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_AfricaMember" xlink:to="lab_srt_AfricaMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherNonoperatingIncomeExpense_5fc66bc9-b865-44f6-be3f-060a46fbd680_terseLabel_en-US" xlink:label="lab_us-gaap_OtherNonoperatingIncomeExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other income</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" 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_be6f2bc1-db78-4ae6-aa23-d3c4d45bcbe4_terseLabel_en-US" xlink:label="lab_dei_EntityFilerCategory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" xml:lang="en-US">Entity Filer Category</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityFilerCategory" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityFilerCategory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityFilerCategory" xlink:to="lab_dei_EntityFilerCategory" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_d3588ec4-70c6-4b82-b143-8a52937d23a9_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Equity Method Investments [Line Items]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Equity Method Investments [Line Items]</link:label>
    <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"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:to="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementTable_d8db9a74-95ea-4316-9feb-3ab28c683749_terseLabel_en-US" xlink:label="lab_us-gaap_StatementTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement [Table]</link:label>
    <link:label id="lab_us-gaap_StatementTable_label_en-US" xlink:label="lab_us-gaap_StatementTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StatementTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementTable" xlink:to="lab_us-gaap_StatementTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherLiabilities_ac0c34be-4f67-4c9e-aead-771732a93f81_terseLabel_en-US" xlink:label="lab_us-gaap_OtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other liabilities</link:label>
    <link:label id="lab_us-gaap_OtherLiabilities_label_en-US" xlink:label="lab_us-gaap_OtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherLiabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherLiabilities"/>
    <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"/>
    <link:label id="lab_dei_CurrentFiscalYearEndDate_e0e5c52b-e2f8-43de-808a-c01483cf45fb_terseLabel_en-US" xlink:label="lab_dei_CurrentFiscalYearEndDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current Fiscal Year End Date</link:label>
    <link:label id="lab_dei_CurrentFiscalYearEndDate_label_en-US" xlink:label="lab_dei_CurrentFiscalYearEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current Fiscal Year End Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_CurrentFiscalYearEndDate" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CurrentFiscalYearEndDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CurrentFiscalYearEndDate" xlink:to="lab_dei_CurrentFiscalYearEndDate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1_c0d93ac7-2f64-407c-8235-6f425c3af1c9_terseLabel_en-US" xlink:label="lab_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Less: Changes in fair value of non-hedge derivative instruments</link:label>
    <link:label id="lab_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1_label_en-US" xlink:label="lab_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments</link:label>
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    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_5d888b65-08d5-4efd-8e33-5c592f7a6def_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment, Type [Axis]</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Lived Tangible Asset [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockSharesIssued_3547a3c3-781c-4871-b221-696d8c7004fa_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock, shares issued (in shares)</link:label>
    <link:label id="lab_us-gaap_PreferredStockSharesIssued_label_en-US" xlink:label="lab_us-gaap_PreferredStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Shares Issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockSharesIssued" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PreferredStockSharesIssued"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockSharesIssued" xlink:to="lab_us-gaap_PreferredStockSharesIssued" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_dc13c5d2-e659-433a-bb1e-727a5113c540_totalLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total liabilities</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities"/>
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    <link:label id="lab_dei_EntityEmergingGrowthCompany_3bfcb4c7-e12c-4a0d-977b-6b99a1ee9985_terseLabel_en-US" xlink:label="lab_dei_EntityEmergingGrowthCompany" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Emerging Growth Company</link:label>
    <link:label id="lab_dei_EntityEmergingGrowthCompany_label_en-US" xlink:label="lab_dei_EntityEmergingGrowthCompany" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Emerging Growth Company</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityEmergingGrowthCompany" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityEmergingGrowthCompany"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityEmergingGrowthCompany" xlink:to="lab_dei_EntityEmergingGrowthCompany" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongLivedAssetsByGeographicAreasTableTextBlock_91e8838f-292f-4175-977c-d58c6d7fc7fd_terseLabel_en-US" xlink:label="lab_us-gaap_LongLivedAssetsByGeographicAreasTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-lived Assets by Geographic Areas</link:label>
    <link:label id="lab_us-gaap_LongLivedAssetsByGeographicAreasTableTextBlock_label_en-US" xlink:label="lab_us-gaap_LongLivedAssetsByGeographicAreasTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Lived Assets by Geographic Areas [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongLivedAssetsByGeographicAreasTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongLivedAssetsByGeographicAreasTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongLivedAssetsByGeographicAreasTableTextBlock" xlink:to="lab_us-gaap_LongLivedAssetsByGeographicAreasTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_IntangibleAssetsandLiabilitiesDisclosureAbstract_8892e5a0-6707-46ab-93e3-3a7cc96dd5ee_terseLabel_en-US" xlink:label="lab_ftai_IntangibleAssetsandLiabilitiesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible Assets and Liabilities Disclosure [Abstract]</link:label>
    <link:label id="lab_ftai_IntangibleAssetsandLiabilitiesDisclosureAbstract_label_en-US" xlink:label="lab_ftai_IntangibleAssetsandLiabilitiesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Assets and Liabilities Disclosure [Abstract]</link:label>
    <link:label id="lab_ftai_IntangibleAssetsandLiabilitiesDisclosureAbstract_documentation_en-US" xlink:label="lab_ftai_IntangibleAssetsandLiabilitiesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Intangible Assets and Liabilities Disclosure [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_IntangibleAssetsandLiabilitiesDisclosureAbstract" xlink:href="ftai-20240331.xsd#ftai_IntangibleAssetsandLiabilitiesDisclosureAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_IntangibleAssetsandLiabilitiesDisclosureAbstract" xlink:to="lab_ftai_IntangibleAssetsandLiabilitiesDisclosureAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_764ec9cd-8894-44bb-8387-4d9ba9d95d05_verboseLabel_en-US" xlink:label="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Intangible assets, net</link:label>
    <link:label id="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_e0af28ab-9a6c-4dd4-9b07-3bc7a30894b2_totalLabel_en-US" xlink:label="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total intangible assets, net</link:label>
    <link:label id="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_label_en-US" xlink:label="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Assets, Net (Excluding Goodwill)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:to="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_49d19c6d-12ed-49d3-a1df-9e2b3c321a71_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Stockholders' Equity [Roll Forward]</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Stockholders' Equity [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncreaseDecreaseInStockholdersEquityRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:to="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OperatingLeaseLeaseIncomeTableTextBlock_91e357f3-19a5-4b58-8193-d978ae8828f6_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeaseLeaseIncomeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Lease, Lease Income</link:label>
    <link:label id="lab_us-gaap_OperatingLeaseLeaseIncomeTableTextBlock_label_en-US" xlink:label="lab_us-gaap_OperatingLeaseLeaseIncomeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Lease, Lease Income [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseLeaseIncomeTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OperatingLeaseLeaseIncomeTableTextBlock"/>
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    <link:label id="lab_dei_DocumentFiscalPeriodFocus_752b0769-f6f7-4edb-b413-b57581143004_terseLabel_en-US" xlink:label="lab_dei_DocumentFiscalPeriodFocus" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Fiscal Period Focus</link:label>
    <link:label id="lab_dei_DocumentFiscalPeriodFocus_label_en-US" xlink:label="lab_dei_DocumentFiscalPeriodFocus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Period Focus</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentFiscalPeriodFocus" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentFiscalPeriodFocus"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentFiscalPeriodFocus" xlink:to="lab_dei_DocumentFiscalPeriodFocus" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetUsefulLife_870262ec-97e5-4ee0-8935-7ca075c2e6dd_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetUsefulLife" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Estimated useful life in years</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetUsefulLife_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetUsefulLife" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Asset, Useful Life</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetUsefulLife" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FiniteLivedIntangibleAssetUsefulLife"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetUsefulLife" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetUsefulLife" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensation_287086f3-2f47-4fb9-8fae-091bb54d409e_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity-based compensation</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensation_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Noncash Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensation" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ShareBasedCompensation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensation" xlink:to="lab_us-gaap_ShareBasedCompensation" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock_57e7366c-9d37-49d2-98e3-d0499d5387d0_terseLabel_en-US" xlink:label="lab_us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenue from External Customers by Geographic Areas</link:label>
    <link:label id="lab_us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock_label_en-US" xlink:label="lab_us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue from External Customers by Geographic Areas [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock"/>
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    <link:label id="lab_us-gaap_CommonStockMember_f89f8946-6e00-4e8d-966f-d99680d082b5_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ordinary Shares</link:label>
    <link:label id="lab_us-gaap_CommonStockMember_label_en-US" xlink:label="lab_us-gaap_CommonStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommonStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockMember" xlink:to="lab_us-gaap_CommonStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentAssetsAbstract_02452b05-34df-4f40-8063-2a023391d4d9_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value of assets acquired:</link:label>
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    <link:label id="lab_dei_CityAreaCode_3f39f771-bdd3-490e-bcfa-2da53a32ca39_terseLabel_en-US" xlink:label="lab_dei_CityAreaCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">City Area Code</link:label>
    <link:label id="lab_dei_CityAreaCode_label_en-US" xlink:label="lab_dei_CityAreaCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">City Area Code</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_CityAreaCode" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CityAreaCode"/>
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    <link:label id="lab_dei_EntityAddressPostalZipCode_67106cf7-815c-4770-9820-fd68840be799_terseLabel_en-US" xlink:label="lab_dei_EntityAddressPostalZipCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
    <link:label id="lab_dei_EntityAddressPostalZipCode_label_en-US" xlink:label="lab_dei_EntityAddressPostalZipCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressPostalZipCode" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressPostalZipCode"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressPostalZipCode" xlink:to="lab_dei_EntityAddressPostalZipCode" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EarningsPerShareTextBlock_55c52901-3fea-480a-ab29-9af678e0c3d3_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">EARNINGS PER SHARE AND EQUITY</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareTextBlock_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share [Text Block]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareTextBlock" xlink:to="lab_us-gaap_EarningsPerShareTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_ProductOrServiceAxis_d39be503-f0b9-49e2-8bfa-6123f67f3c5b_terseLabel_en-US" xlink:label="lab_srt_ProductOrServiceAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Product and Service [Axis]</link:label>
    <link:label id="lab_srt_ProductOrServiceAxis_label_en-US" xlink:label="lab_srt_ProductOrServiceAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Product and Service [Axis]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ProductOrServiceAxis" xlink:to="lab_srt_ProductOrServiceAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeStatementLocationDomain_3e21c391-fda2-4883-b2db-9bdd98c78f64_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementLocationDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Statement Location [Domain]</link:label>
    <link:label id="lab_us-gaap_IncomeStatementLocationDomain_label_en-US" xlink:label="lab_us-gaap_IncomeStatementLocationDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Statement Location [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeStatementLocationDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncomeStatementLocationDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementLocationDomain" xlink:to="lab_us-gaap_IncomeStatementLocationDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_CustomerTwoMember_284a9104-1e65-4277-a86b-ac53ccda5687_terseLabel_en-US" xlink:label="lab_ftai_CustomerTwoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Customer Two</link:label>
    <link:label id="lab_ftai_CustomerTwoMember_label_en-US" xlink:label="lab_ftai_CustomerTwoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Customer Two [Member]</link:label>
    <link:label id="lab_ftai_CustomerTwoMember_documentation_en-US" xlink:label="lab_ftai_CustomerTwoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Customer Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_CustomerTwoMember" xlink:href="ftai-20240331.xsd#ftai_CustomerTwoMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_CustomerTwoMember" xlink:to="lab_ftai_CustomerTwoMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage_36db97ad-00d1-4cc5-835d-ea73871b7983_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership Percentage</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage_05ec8214-6785-4cf9-88c5-3531b99a7227_verboseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Ownership percentage</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Ownership Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EquityMethodInvestmentOwnershipPercentage"/>
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    <link:label id="lab_dei_DocumentFiscalYearFocus_4e8b8c5e-042d-402f-8305-212db7028a3f_terseLabel_en-US" xlink:label="lab_dei_DocumentFiscalYearFocus" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Fiscal Year Focus</link:label>
    <link:label id="lab_dei_DocumentFiscalYearFocus_label_en-US" xlink:label="lab_dei_DocumentFiscalYearFocus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Year Focus</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentFiscalYearFocus" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentFiscalYearFocus"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentFiscalYearFocus" xlink:to="lab_dei_DocumentFiscalYearFocus" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_SegmentGeographicalDomain_1853b6e4-b283-443b-8b15-89d57df4bef2_terseLabel_en-US" xlink:label="lab_srt_SegmentGeographicalDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Geographical [Domain]</link:label>
    <link:label id="lab_srt_SegmentGeographicalDomain_label_en-US" xlink:label="lab_srt_SegmentGeographicalDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographical [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_SegmentGeographicalDomain" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_SegmentGeographicalDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_SegmentGeographicalDomain" xlink:to="lab_srt_SegmentGeographicalDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_5fe1c728-02ee-41f8-ac00-fac5d5889626_totalLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total equity</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_afe93dfd-1a7a-4530-bb7e-df97833cc110_periodStartLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_0d83d71f-82d0-4eea-bb90-d3e28c900d93_periodEndLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity, Including Portion Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:to="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MinimumMember_69204ebf-b048-4f71-a1b9-23c14ab9ecb4_terseLabel_en-US" xlink:label="lab_srt_MinimumMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Minimum</link:label>
    <link:label id="lab_srt_MinimumMember_label_en-US" xlink:label="lab_srt_MinimumMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Minimum [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MinimumMember" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_MinimumMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MinimumMember" xlink:to="lab_srt_MinimumMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_f1b3ac1e-f2d1-4909-8e29-e93f920ec68c_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets by Major Class [Axis]</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets by Major Class [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ManufacturedProductOtherMember_bed3c81a-191f-48f7-9793-32d07c5eb6c7_terseLabel_en-US" xlink:label="lab_us-gaap_ManufacturedProductOtherMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Asset sales revenue</link:label>
    <link:label id="lab_us-gaap_ManufacturedProductOtherMember_label_en-US" xlink:label="lab_us-gaap_ManufacturedProductOtherMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Manufactured Product, Other [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ManufacturedProductOtherMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ManufacturedProductOtherMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ManufacturedProductOtherMember" xlink:to="lab_us-gaap_ManufacturedProductOtherMember" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_AsiaMember_f74244a8-4f58-4913-944d-bf38626986e6_terseLabel_en-US" xlink:label="lab_srt_AsiaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Asia</link:label>
    <link:label id="lab_srt_AsiaMember_1e68808e-feed-4cc1-bdeb-f9277a32947c_netLabel_en-US" xlink:label="lab_srt_AsiaMember" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Asia</link:label>
    <link:label id="lab_srt_AsiaMember_label_en-US" xlink:label="lab_srt_AsiaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asia [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_AsiaMember" xlink:href="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd#srt_AsiaMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_AsiaMember" xlink:to="lab_srt_AsiaMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementOfCashFlowsAbstract_7f33902d-734b-4643-b7d4-fcd8ba80eada_terseLabel_en-US" xlink:label="lab_us-gaap_StatementOfCashFlowsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement of Cash Flows [Abstract]</link:label>
    <link:label id="lab_us-gaap_StatementOfCashFlowsAbstract_label_en-US" xlink:label="lab_us-gaap_StatementOfCashFlowsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Cash Flows [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfCashFlowsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StatementOfCashFlowsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfCashFlowsAbstract" xlink:to="lab_us-gaap_StatementOfCashFlowsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AssetsAbstract_fc77f391-90dd-48f0-b54f-5751998c6e5e_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assets</link:label>
    <link:label id="lab_us-gaap_AssetsAbstract_label_en-US" xlink:label="lab_us-gaap_AssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AssetsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsAbstract" xlink:to="lab_us-gaap_AssetsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebt_8d149031-8e12-4a3d-b9d7-117996998215_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from debt</link:label>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebt_label_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Issuance of Long-Term Debt</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:to="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LeasesAcquiredInPlaceMember_fb63a823-310d-434d-838c-01fb5f6bead1_terseLabel_en-US" xlink:label="lab_us-gaap_LeasesAcquiredInPlaceMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Above market leases</link:label>
    <link:label id="lab_us-gaap_LeasesAcquiredInPlaceMember_label_en-US" xlink:label="lab_us-gaap_LeasesAcquiredInPlaceMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Leases, Acquired-in-Place [Member]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LeasesAcquiredInPlaceMember" xlink:to="lab_us-gaap_LeasesAcquiredInPlaceMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProductAndServiceOtherMember_41bb1591-52dd-47bc-86eb-eae342c6f990_terseLabel_en-US" xlink:label="lab_us-gaap_ProductAndServiceOtherMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other revenue</link:label>
    <link:label id="lab_us-gaap_ProductAndServiceOtherMember_label_en-US" xlink:label="lab_us-gaap_ProductAndServiceOtherMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Product and Service, Other [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProductAndServiceOtherMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ProductAndServiceOtherMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProductAndServiceOtherMember" xlink:to="lab_us-gaap_ProductAndServiceOtherMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LiabilitiesAbstract_4e2c5f19-0a4a-4a57-a1b6-0b3e0d750ac8_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liabilities</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAbstract_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LiabilitiesAbstract"/>
    <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"/>
    <link:label id="lab_us-gaap_ProfitLoss_be7e4bd5-4ff9-417a-b348-7ebdb2f30ab8_totalLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net income</link:label>
    <link:label id="lab_us-gaap_ProfitLoss_14824549-6a31-4f22-ad99-1dc27022fe1b_verboseLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net income</link:label>
    <link:label id="lab_us-gaap_ProfitLoss_1029e82d-575a-4479-a43c-1aef5b6972af_netLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Net income</link:label>
    <link:label id="lab_us-gaap_ProfitLoss_737c8e54-00e5-449e-8826-79391656e0ef_terseLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net income</link:label>
    <link:label id="lab_us-gaap_ProfitLoss_label_en-US" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss), Including Portion Attributable to Noncontrolling Interest</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProfitLoss" xlink:to="lab_us-gaap_ProfitLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_c72ed765-8c54-4027-a4b6-c53232294e9a_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by (used in) financing activities</link:label>
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    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_957b67c3-21c8-4c5c-bbb7-2fd48f7d0656_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">COMMITMENTS AND CONTINGENCIES</link:label>
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:to="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_NoncashorPartNoncashAcquisitionLeasingEquipmentAcquired_51697dfa-97c6-4276-a8b1-c1aeceebe710_terseLabel_en-US" xlink:label="lab_ftai_NoncashorPartNoncashAcquisitionLeasingEquipmentAcquired" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquisition of and transfers to leasing equipment</link:label>
    <link:label id="lab_ftai_NoncashorPartNoncashAcquisitionLeasingEquipmentAcquired_label_en-US" xlink:label="lab_ftai_NoncashorPartNoncashAcquisitionLeasingEquipmentAcquired" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncash or Part Noncash Acquisition, Leasing Equipment Acquired</link:label>
    <link:label id="lab_ftai_NoncashorPartNoncashAcquisitionLeasingEquipmentAcquired_documentation_en-US" xlink:label="lab_ftai_NoncashorPartNoncashAcquisitionLeasingEquipmentAcquired" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Noncash or Part Noncash Acquisition, Leasing Equipment Acquired</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_NoncashorPartNoncashAcquisitionLeasingEquipmentAcquired" xlink:href="ftai-20240331.xsd#ftai_NoncashorPartNoncashAcquisitionLeasingEquipmentAcquired"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_NoncashorPartNoncashAcquisitionLeasingEquipmentAcquired" xlink:to="lab_ftai_NoncashorPartNoncashAcquisitionLeasingEquipmentAcquired" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_AccountingPoliciesTable_0c3f7429-0239-456b-82e0-1ccc34d946e5_terseLabel_en-US" xlink:label="lab_ftai_AccountingPoliciesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounting Policies [Table]</link:label>
    <link:label id="lab_ftai_AccountingPoliciesTable_label_en-US" xlink:label="lab_ftai_AccountingPoliciesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounting Policies [Table]</link:label>
    <link:label id="lab_ftai_AccountingPoliciesTable_documentation_en-US" xlink:label="lab_ftai_AccountingPoliciesTable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accounting Policies [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_AccountingPoliciesTable" xlink:href="ftai-20240331.xsd#ftai_AccountingPoliciesTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_AccountingPoliciesTable" xlink:to="lab_ftai_AccountingPoliciesTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired_61944dc9-ad32-461b-a691-7fc50651f274_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percent interest acquired</link:label>
    <link:label id="lab_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Acquisition, Percentage of Voting Interests Acquired</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired"/>
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    <link:label id="lab_us-gaap_RetainedEarningsMember_aa601fbc-658e-4d48-98aa-db38a3cac5a0_terseLabel_en-US" xlink:label="lab_us-gaap_RetainedEarningsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated Deficit</link:label>
    <link:label id="lab_us-gaap_RetainedEarningsMember_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained Earnings [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RetainedEarningsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RetainedEarningsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsMember" xlink:to="lab_us-gaap_RetainedEarningsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_PropertyPlantAndEquipmentLeasingEquipment_f5e71901-2b54-4d16-abf9-8f8d0ecc72eb_terseLabel_en-US" xlink:label="lab_ftai_PropertyPlantAndEquipmentLeasingEquipment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Leasing equipment, net</link:label>
    <link:label id="lab_ftai_PropertyPlantAndEquipmentLeasingEquipment_447acbed-d874-4bbb-93a7-9e6f47d0f957_totalLabel_en-US" xlink:label="lab_ftai_PropertyPlantAndEquipmentLeasingEquipment" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Property, plant and equipment, net</link:label>
    <link:label id="lab_ftai_PropertyPlantAndEquipmentLeasingEquipment_label_en-US" xlink:label="lab_ftai_PropertyPlantAndEquipmentLeasingEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment, Leasing Equipment</link:label>
    <link:label id="lab_ftai_PropertyPlantAndEquipmentLeasingEquipment_documentation_en-US" xlink:label="lab_ftai_PropertyPlantAndEquipmentLeasingEquipment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment, Leasing Equipment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_PropertyPlantAndEquipmentLeasingEquipment" xlink:href="ftai-20240331.xsd#ftai_PropertyPlantAndEquipmentLeasingEquipment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_PropertyPlantAndEquipmentLeasingEquipment" xlink:to="lab_ftai_PropertyPlantAndEquipmentLeasingEquipment" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtCurrent_f2f0a612-14a6-4473-a26e-3e7e7a70ef9d_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total debt due within one year</link:label>
    <link:label id="lab_us-gaap_LongTermDebtCurrent_label_en-US" xlink:label="lab_us-gaap_LongTermDebtCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Current Maturities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtCurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongTermDebtCurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtCurrent" xlink:to="lab_us-gaap_LongTermDebtCurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_AdjustedTermSOFRRateMember_cd44e584-e1f9-4769-9024-960457afc987_terseLabel_en-US" xlink:label="lab_ftai_AdjustedTermSOFRRateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjusted Term SOFR Rate</link:label>
    <link:label id="lab_ftai_AdjustedTermSOFRRateMember_label_en-US" xlink:label="lab_ftai_AdjustedTermSOFRRateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjusted Term SOFR Rate [Member]</link:label>
    <link:label id="lab_ftai_AdjustedTermSOFRRateMember_documentation_en-US" xlink:label="lab_ftai_AdjustedTermSOFRRateMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Adjusted Term SOFR Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_AdjustedTermSOFRRateMember" xlink:href="ftai-20240331.xsd#ftai_AdjustedTermSOFRRateMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_AdjustedTermSOFRRateMember" xlink:to="lab_ftai_AdjustedTermSOFRRateMember" xlink:type="arc" order="1"/>
    <link:label id="lab_country_KY_7bf0955e-6144-4052-86cc-bacafd5fbf67_terseLabel_en-US" xlink:label="lab_country_KY" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cayman Islands</link:label>
    <link:label id="lab_country_KY_label_en-US" xlink:label="lab_country_KY" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">CAYMAN ISLANDS</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_country_KY" xlink:href="https://xbrl.sec.gov/country/2023/country-2023.xsd#country_KY"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_KY" xlink:to="lab_country_KY" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CapitalLeasedAssetsLineItems_e5f88857-f57c-4b63-92eb-9c977ca58460_terseLabel_en-US" xlink:label="lab_us-gaap_CapitalLeasedAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Leases [Line Items]</link:label>
    <link:label id="lab_us-gaap_CapitalLeasedAssetsLineItems_label_en-US" xlink:label="lab_us-gaap_CapitalLeasedAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Leased Assets [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CapitalLeasedAssetsLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CapitalLeasedAssetsLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalLeasedAssetsLineItems" xlink:to="lab_us-gaap_CapitalLeasedAssetsLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock_8baa1d13-2111-472e-916f-75af9239e6ee_terseLabel_en-US" xlink:label="lab_us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reconciliation of Operating Profit (Loss) from Segments to Consolidated</link:label>
    <link:label id="lab_us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock_label_en-US" xlink:label="lab_us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock" xlink:to="lab_us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquity_3f2dce5a-6df1-48f5-8f82-143f9af9b768_totalLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total liabilities and equity</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquity_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities and Equity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquity" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LiabilitiesAndStockholdersEquity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="lab_us-gaap_LiabilitiesAndStockholdersEquity" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OperatingLeaseRightOfUseAsset_4d41ca3f-2033-4f85-bc4a-42c3b0c98eb1_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeaseRightOfUseAsset" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating lease, right-of-use asset</link:label>
    <link:label id="lab_us-gaap_OperatingLeaseRightOfUseAsset_label_en-US" xlink:label="lab_us-gaap_OperatingLeaseRightOfUseAsset" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Lease, Right-of-Use Asset</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseRightOfUseAsset" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OperatingLeaseRightOfUseAsset"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeaseRightOfUseAsset" xlink:to="lab_us-gaap_OperatingLeaseRightOfUseAsset" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EarningsPerShareBasic_c3b34dd6-2b7a-47da-8620-86591f01b392_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasic" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basic (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareBasic_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasic" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share, Basic</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerShareBasic" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EarningsPerShareBasic"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareBasic" xlink:to="lab_us-gaap_EarningsPerShareBasic" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentTable_5c5387f9-05db-4e69-a438-6d1cc4b2a8bf_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Long-term Debt Instruments [Table]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentTable_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Long-Term Debt Instruments [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtInstrumentTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentTable" xlink:to="lab_us-gaap_DebtInstrumentTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccountingPoliciesAbstract_6ec05dfe-1d7f-41d0-badc-202b8bdf60d4_terseLabel_en-US" xlink:label="lab_us-gaap_AccountingPoliciesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounting Policies [Abstract]</link:label>
    <link:label id="lab_us-gaap_AccountingPoliciesAbstract_label_en-US" xlink:label="lab_us-gaap_AccountingPoliciesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounting Policies [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountingPoliciesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AccountingPoliciesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountingPoliciesAbstract" xlink:to="lab_us-gaap_AccountingPoliciesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CurrentForeignTaxExpenseBenefit_a3fe99a6-0f25-49f5-973c-23f18ac42bc7_terseLabel_en-US" xlink:label="lab_us-gaap_CurrentForeignTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign</link:label>
    <link:label id="lab_us-gaap_CurrentForeignTaxExpenseBenefit_1600d90a-18b1-4550-8ea3-2cab7cb8b72e_verboseLabel_en-US" xlink:label="lab_us-gaap_CurrentForeignTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Non-U.S.</link:label>
    <link:label id="lab_us-gaap_CurrentForeignTaxExpenseBenefit_label_en-US" xlink:label="lab_us-gaap_CurrentForeignTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current Foreign Tax Expense (Benefit)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CurrentForeignTaxExpenseBenefit" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CurrentForeignTaxExpenseBenefit"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CurrentForeignTaxExpenseBenefit" xlink:to="lab_us-gaap_CurrentForeignTaxExpenseBenefit" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_IncomeIncentiveAllocationThresholdDomain_ea7a6889-25fa-4b52-87c2-228900b31554_terseLabel_en-US" xlink:label="lab_ftai_IncomeIncentiveAllocationThresholdDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Incentive Allocation Threshold [Domain]</link:label>
    <link:label id="lab_ftai_IncomeIncentiveAllocationThresholdDomain_label_en-US" xlink:label="lab_ftai_IncomeIncentiveAllocationThresholdDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Incentive Allocation Threshold [Domain]</link:label>
    <link:label id="lab_ftai_IncomeIncentiveAllocationThresholdDomain_documentation_en-US" xlink:label="lab_ftai_IncomeIncentiveAllocationThresholdDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">[Domain] for Income Incentive Allocation Threshold [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_IncomeIncentiveAllocationThresholdDomain" xlink:href="ftai-20240331.xsd#ftai_IncomeIncentiveAllocationThresholdDomain"/>
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    <link:label id="lab_us-gaap_DebtConversionOriginalDebtAmount1_431d77e8-64e3-4906-a4fb-713bdcb4e1b4_terseLabel_en-US" xlink:label="lab_us-gaap_DebtConversionOriginalDebtAmount1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Conversion of debt</link:label>
    <link:label id="lab_us-gaap_DebtConversionOriginalDebtAmount1_label_en-US" xlink:label="lab_us-gaap_DebtConversionOriginalDebtAmount1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Conversion, Original Debt, Amount</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtConversionOriginalDebtAmount1" xlink:to="lab_us-gaap_DebtConversionOriginalDebtAmount1" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressCityOrTown_dbbefc88-6aa1-4491-8917-fab97b6397e0_terseLabel_en-US" xlink:label="lab_dei_EntityAddressCityOrTown" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, City or Town</link:label>
    <link:label id="lab_dei_EntityAddressCityOrTown_label_en-US" xlink:label="lab_dei_EntityAddressCityOrTown" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, City or Town</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressCityOrTown" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressCityOrTown"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressCityOrTown" xlink:to="lab_dei_EntityAddressCityOrTown" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_f4d6a30c-0847-4277-a18d-8cf840608e27_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Segment Reporting Information, by Segment</link:label>
    <link:label id="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Segment Reporting Information, by Segment [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:to="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockIssued1_0a498094-4f7b-4774-8c1b-6f0d2d3149bc_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssued1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Issuance of ordinary shares</link:label>
    <link:label id="lab_us-gaap_StockIssued1_label_en-US" xlink:label="lab_us-gaap_StockIssued1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssued1" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StockIssued1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssued1" xlink:to="lab_us-gaap_StockIssued1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConsolidationPolicyTextBlock_6dc1d3c2-9c30-4827-adc0-9c1d8d972cdd_terseLabel_en-US" xlink:label="lab_us-gaap_ConsolidationPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Principles of Consolidation</link:label>
    <link:label id="lab_us-gaap_ConsolidationPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_ConsolidationPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidation, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConsolidationPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ConsolidationPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConsolidationPolicyTextBlock" xlink:to="lab_us-gaap_ConsolidationPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings_280fac4e-a84c-4b40-9dc1-ad4031525e3c_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Dividends declared - ordinary shares</link:label>
    <link:label id="lab_us-gaap_AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings_label_en-US" xlink:label="lab_us-gaap_AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments to Additional Paid in Capital, Dividends in Excess of Retained Earnings</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings"/>
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    <link:label id="lab_ftai_QuickTurnEngineLLCMember_4ac10aae-e25c-44a3-a111-25f7bbf9e522_terseLabel_en-US" xlink:label="lab_ftai_QuickTurnEngineLLCMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Quick Turn Engine Center LLC</link:label>
    <link:label id="lab_ftai_QuickTurnEngineLLCMember_label_en-US" xlink:label="lab_ftai_QuickTurnEngineLLCMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">QuickTurn Engine LLC [Member]</link:label>
    <link:label id="lab_ftai_QuickTurnEngineLLCMember_documentation_en-US" xlink:label="lab_ftai_QuickTurnEngineLLCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">QuickTurn Engine LLC</link:label>
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    <link:label id="lab_dei_DocumentTransitionReport_60caad1e-deed-4ed0-958e-60018b4ab4c5_terseLabel_en-US" xlink:label="lab_dei_DocumentTransitionReport" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Transition Report</link:label>
    <link:label id="lab_dei_DocumentTransitionReport_label_en-US" xlink:label="lab_dei_DocumentTransitionReport" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Transition Report</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentTransitionReport" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentTransitionReport"/>
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    <link:label id="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_a58fc2b2-8df6-4c4f-9497-07057b43e9b6_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Business Acquisitions, by Acquisition [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Business Acquisitions, by Acquisition [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:to="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions_6dfc7ebf-d0a5-4ccf-b7fc-cbe74b3a02f4_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Equity in losses of unconsolidated entities</link:label>
    <link:label id="lab_us-gaap_IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income (Loss) from Equity Method Investments, Net of Dividends or Distributions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions"/>
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    <link:label id="lab_us-gaap_BusinessCombinationsAbstract_93dfa7b3-e13a-4362-87c3-26d8be2193a7_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business Combinations [Abstract]</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationsAbstract_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combinations [Abstract]</link:label>
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    <link:label id="lab_us-gaap_CommonStockSharesAuthorized_949218ff-9ed9-4cde-87d4-ed254b247ed0_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, shares authorized (in shares)</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesAuthorized_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares Authorized</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockSharesAuthorized" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommonStockSharesAuthorized"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesAuthorized" xlink:to="lab_us-gaap_CommonStockSharesAuthorized" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherDepreciationAndAmortization_b38dee02-2d21-46c2-95e3-4f26c42e33f8_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_OtherDepreciationAndAmortization" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Less: Depreciation and amortization expense</link:label>
    <link:label id="lab_us-gaap_OtherDepreciationAndAmortization_label_en-US" xlink:label="lab_us-gaap_OtherDepreciationAndAmortization" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Depreciation and Amortization</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherDepreciationAndAmortization" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherDepreciationAndAmortization"/>
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    <link:label id="lab_us-gaap_ProceedsFromCollectionOfNotesReceivable_880cf3f0-6adb-4fe0-b7f7-dfdebf9bd7cb_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromCollectionOfNotesReceivable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Principal collections on notes receivable</link:label>
    <link:label id="lab_us-gaap_ProceedsFromCollectionOfNotesReceivable_label_en-US" xlink:label="lab_us-gaap_ProceedsFromCollectionOfNotesReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Collection of Notes Receivable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromCollectionOfNotesReceivable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ProceedsFromCollectionOfNotesReceivable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromCollectionOfNotesReceivable" xlink:to="lab_us-gaap_ProceedsFromCollectionOfNotesReceivable" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_AssetSalesMember_37cdec30-076c-4e84-9416-fd3c40d4d2cc_terseLabel_en-US" xlink:label="lab_ftai_AssetSalesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Asset sales revenue</link:label>
    <link:label id="lab_ftai_AssetSalesMember_label_en-US" xlink:label="lab_ftai_AssetSalesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Sales [Member]</link:label>
    <link:label id="lab_ftai_AssetSalesMember_documentation_en-US" xlink:label="lab_ftai_AssetSalesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Asset Sales</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_AssetSalesMember" xlink:href="ftai-20240331.xsd#ftai_AssetSalesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_AssetSalesMember" xlink:to="lab_ftai_AssetSalesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_c4f15c48-13f7-45bd-839d-4f3bd524ba78_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems"/>
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    <link:label id="lab_ftai_NoncashorPartNoncashAcquisitionSecurityDepositsSettledandAssumed_0bd0f589-800c-43a7-bfbd-9d7a193870a2_negatedTerseLabel_en-US" xlink:label="lab_ftai_NoncashorPartNoncashAcquisitionSecurityDepositsSettledandAssumed" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Settled security deposits</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_NoncashorPartNoncashAcquisitionSecurityDepositsSettledandAssumed" xlink:to="lab_ftai_NoncashorPartNoncashAcquisitionSecurityDepositsSettledandAssumed" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_PropertyPlantAndEquipmentLeasingEquipmentGross_98a5d894-0c23-4546-abc7-523b75ec8973_terseLabel_en-US" xlink:label="lab_ftai_PropertyPlantAndEquipmentLeasingEquipmentGross" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Leasing equipment</link:label>
    <link:label id="lab_ftai_PropertyPlantAndEquipmentLeasingEquipmentGross_label_en-US" xlink:label="lab_ftai_PropertyPlantAndEquipmentLeasingEquipmentGross" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment, Leasing Equipment, Gross,</link:label>
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    <link:label id="lab_us-gaap_FairValueByLiabilityClassAxis_9b8bc343-26e0-40d6-aca7-5e397ce0a3ea_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByLiabilityClassAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liability Class [Axis]</link:label>
    <link:label id="lab_us-gaap_FairValueByLiabilityClassAxis_label_en-US" xlink:label="lab_us-gaap_FairValueByLiabilityClassAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liability Class [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueByLiabilityClassAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FairValueByLiabilityClassAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueByLiabilityClassAxis" xlink:to="lab_us-gaap_FairValueByLiabilityClassAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsAbstract_ef3144da-e6d7-49cb-99a6-5fa2c0763b1e_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party Transactions [Abstract]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsAbstract_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transactions [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RelatedPartyTransactionsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsAbstract" xlink:to="lab_us-gaap_RelatedPartyTransactionsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SecurityDepositLiability_8afbc9e8-a46c-4731-9e84-367072a419b7_terseLabel_en-US" xlink:label="lab_us-gaap_SecurityDepositLiability" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Security deposits</link:label>
    <link:label id="lab_us-gaap_SecurityDepositLiability_label_en-US" xlink:label="lab_us-gaap_SecurityDepositLiability" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Security Deposit Liability</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecurityDepositLiability" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SecurityDepositLiability"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecurityDepositLiability" xlink:to="lab_us-gaap_SecurityDepositLiability" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_SeniorNotesDue2028Member_6665915e-1e33-4666-8ae1-159d8e93835f_terseLabel_en-US" xlink:label="lab_ftai_SeniorNotesDue2028Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Senior Notes due 2028</link:label>
    <link:label id="lab_ftai_SeniorNotesDue2028Member_label_en-US" xlink:label="lab_ftai_SeniorNotesDue2028Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Notes Due 2028 [Member]</link:label>
    <link:label id="lab_ftai_SeniorNotesDue2028Member_documentation_en-US" xlink:label="lab_ftai_SeniorNotesDue2028Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Senior Notes Due 2028</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_SeniorNotesDue2028Member" xlink:href="ftai-20240331.xsd#ftai_SeniorNotesDue2028Member"/>
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    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_348bb8aa-8816-45fb-93fa-6e707d9eae28_totalLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total assets</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets"/>
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    <link:label id="lab_ftai_OwnershipPercentagebyManager_19646858-f900-4d68-adab-c9d4ed26fe4f_terseLabel_en-US" xlink:label="lab_ftai_OwnershipPercentagebyManager" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership percentage by manager</link:label>
    <link:label id="lab_ftai_OwnershipPercentagebyManager_label_en-US" xlink:label="lab_ftai_OwnershipPercentagebyManager" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ownership Percentage by Manager</link:label>
    <link:label id="lab_ftai_OwnershipPercentagebyManager_documentation_en-US" xlink:label="lab_ftai_OwnershipPercentagebyManager" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Ownership Percentage by Manager</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_OwnershipPercentagebyManager" xlink:href="ftai-20240331.xsd#ftai_OwnershipPercentagebyManager"/>
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    <link:label id="lab_us-gaap_ProvisionForDoubtfulAccounts_6f7962f7-4b2d-4187-8c1f-a3c584e05dc6_terseLabel_en-US" xlink:label="lab_us-gaap_ProvisionForDoubtfulAccounts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Provision for credit losses</link:label>
    <link:label id="lab_us-gaap_ProvisionForDoubtfulAccounts_5a63105d-4cbf-491d-a4bb-070adc26746f_verboseLabel_en-US" xlink:label="lab_us-gaap_ProvisionForDoubtfulAccounts" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Bad debt expense</link:label>
    <link:label id="lab_us-gaap_ProvisionForDoubtfulAccounts_label_en-US" xlink:label="lab_us-gaap_ProvisionForDoubtfulAccounts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts Receivable, Credit Loss Expense (Reversal)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProvisionForDoubtfulAccounts" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ProvisionForDoubtfulAccounts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProvisionForDoubtfulAccounts" xlink:to="lab_us-gaap_ProvisionForDoubtfulAccounts" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AdditionalPaidInCapital_6002db61-3a87-40ae-a0a6-dc05ca021309_terseLabel_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapital" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional paid in capital</link:label>
    <link:label id="lab_us-gaap_AdditionalPaidInCapital_label_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional Paid in Capital</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdditionalPaidInCapital" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AdditionalPaidInCapital"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdditionalPaidInCapital" xlink:to="lab_us-gaap_AdditionalPaidInCapital" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_f732bf88-c36e-4bb1-90e2-d1a77276f6dc_totalLabel_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total deferred provision</link:label>
    <link:label id="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_label_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Income Tax Expense (Benefit)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:to="lab_us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsequentEventTypeAxis_2c77784c-7043-4186-a943-683995420a6b_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Axis]</link:label>
    <link:label id="lab_us-gaap_SubsequentEventTypeAxis_label_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SubsequentEventTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventTypeAxis" xlink:to="lab_us-gaap_SubsequentEventTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_A8.25FixedtoFloatingRateSeriesACumulativePerpetualRedeemableMember_3a2707b3-7d61-415e-b9f5-fa795ee8b44b_terseLabel_en-US" xlink:label="lab_ftai_A8.25FixedtoFloatingRateSeriesACumulativePerpetualRedeemableMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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_GainLossOnDispositionOfAssets_94be7d91-d977-4c32-8f21-dd9f74ac05e3_negatedLabel_en-US" xlink:label="lab_us-gaap_GainLossOnDispositionOfAssets" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Gain on sale of leasing equipment, net</link:label>
    <link:label id="lab_us-gaap_GainLossOnDispositionOfAssets_label_en-US" xlink:label="lab_us-gaap_GainLossOnDispositionOfAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property</link:label>
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    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_88e815f2-20d7-4bb2-ac66-c138ee1cd8ec_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2027</link:label>
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    <link:label id="lab_us-gaap_AllowanceForDoubtfulAccountsReceivable_dd9f06e9-8eec-486c-972e-8375cd31ad82_terseLabel_en-US" xlink:label="lab_us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Provision for doubtful accounts</link:label>
    <link:label id="lab_us-gaap_AllowanceForDoubtfulAccountsReceivable_label_en-US" xlink:label="lab_us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts Receivable, Allowance for Credit Loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivable"/>
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    <link:label id="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_d5740598-ad13-48f7-9bb6-793ea0655d14_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party [Axis]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party, Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:to="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_555d005b-9816-4c70-8fc3-32c36daf9e71_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Segment Reporting Information, by Segment [Table]</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable"/>
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    <link:label id="lab_us-gaap_OtherAssets_ed4078ec-a0be-4166-ac25-7392b4967bed_terseLabel_en-US" xlink:label="lab_us-gaap_OtherAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
    <link:label id="lab_us-gaap_OtherAssets_label_en-US" xlink:label="lab_us-gaap_OtherAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OtherAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherAssets" xlink:to="lab_us-gaap_OtherAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_LongTermDebtGrossOfDebtIssuanceCosts_3861e3d2-959d-4b51-a7e4-313cd6faa3cd_terseLabel_en-US" xlink:label="lab_ftai_LongTermDebtGrossOfDebtIssuanceCosts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt, gross of debt issuance costs</link:label>
    <link:label id="lab_ftai_LongTermDebtGrossOfDebtIssuanceCosts_label_en-US" xlink:label="lab_ftai_LongTermDebtGrossOfDebtIssuanceCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Gross Of Debt Issuance Costs</link:label>
    <link:label id="lab_ftai_LongTermDebtGrossOfDebtIssuanceCosts_documentation_en-US" xlink:label="lab_ftai_LongTermDebtGrossOfDebtIssuanceCosts" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Gross Of Debt Issuance Costs</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_LongTermDebtGrossOfDebtIssuanceCosts" xlink:href="ftai-20240331.xsd#ftai_LongTermDebtGrossOfDebtIssuanceCosts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_LongTermDebtGrossOfDebtIssuanceCosts" xlink:to="lab_ftai_LongTermDebtGrossOfDebtIssuanceCosts" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_ProceedsFromDepositOnSaleOfAircraftAndEngine_6d07d0b7-6c57-4cc9-9d63-be78b0384f32_terseLabel_en-US" xlink:label="lab_ftai_ProceedsFromDepositOnSaleOfAircraftAndEngine" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds for deposit on sale of aircraft and engine</link:label>
    <link:label id="lab_ftai_ProceedsFromDepositOnSaleOfAircraftAndEngine_label_en-US" xlink:label="lab_ftai_ProceedsFromDepositOnSaleOfAircraftAndEngine" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds From Deposit On Sale Of Aircraft And Engine</link:label>
    <link:label id="lab_ftai_ProceedsFromDepositOnSaleOfAircraftAndEngine_documentation_en-US" xlink:label="lab_ftai_ProceedsFromDepositOnSaleOfAircraftAndEngine" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proceeds From Deposit On Sale Of Aircraft And Engine</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_ProceedsFromDepositOnSaleOfAircraftAndEngine" xlink:href="ftai-20240331.xsd#ftai_ProceedsFromDepositOnSaleOfAircraftAndEngine"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_ProceedsFromDepositOnSaleOfAircraftAndEngine" xlink:to="lab_ftai_ProceedsFromDepositOnSaleOfAircraftAndEngine" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_NumberOfAirCraftsSold_0e8250a3-7883-4d00-8fe5-e2d3e2084eb7_terseLabel_en-US" xlink:label="lab_ftai_NumberOfAirCraftsSold" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of aircrafts sold</link:label>
    <link:label id="lab_ftai_NumberOfAirCraftsSold_label_en-US" xlink:label="lab_ftai_NumberOfAirCraftsSold" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Air Crafts Sold</link:label>
    <link:label id="lab_ftai_NumberOfAirCraftsSold_documentation_en-US" xlink:label="lab_ftai_NumberOfAirCraftsSold" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number Of Air Crafts Sold</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_NumberOfAirCraftsSold" xlink:href="ftai-20240331.xsd#ftai_NumberOfAirCraftsSold"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_NumberOfAirCraftsSold" xlink:to="lab_ftai_NumberOfAirCraftsSold" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityRegistrantName_ece98f0b-5af2-4d80-b295-919e17a249cb_terseLabel_en-US" xlink:label="lab_dei_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</link:label>
    <link:label id="lab_dei_EntityRegistrantName_label_en-US" xlink:label="lab_dei_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityRegistrantName" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityRegistrantName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityRegistrantName" xlink:to="lab_dei_EntityRegistrantName" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_18ac709c-f460-4e7e-8b7f-23d27ff748c3_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Other Operating Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:to="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_5fd8507b-5803-4011-bcc5-3df4748fa331_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2026</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Asset, Expected Amortization, Year Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MinorityInterest_d97c84e5-b5e3-4e57-9bfc-cd2f869f9c00_terseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-controlling interest in equity of consolidated subsidiaries</link:label>
    <link:label id="lab_us-gaap_MinorityInterest_label_en-US" xlink:label="lab_us-gaap_MinorityInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity, Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_MinorityInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterest" xlink:to="lab_us-gaap_MinorityInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentPeriodEndDate_5cc148ba-e1ff-4a3c-88c6-d0575044721d_terseLabel_en-US" xlink:label="lab_dei_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Period End Date</link:label>
    <link:label id="lab_dei_DocumentPeriodEndDate_label_en-US" xlink:label="lab_dei_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Period End Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentPeriodEndDate" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentPeriodEndDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentPeriodEndDate" xlink:to="lab_dei_DocumentPeriodEndDate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RepaymentsOfLongTermDebt_391f6780-070c-4523-ba8d-8f23550d6e1b_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_RepaymentsOfLongTermDebt" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Repayment of debt</link:label>
    <link:label id="lab_us-gaap_RepaymentsOfLongTermDebt_label_en-US" xlink:label="lab_us-gaap_RepaymentsOfLongTermDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repayments of Long-Term Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RepaymentsOfLongTermDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_RepaymentsOfLongTermDebt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RepaymentsOfLongTermDebt" xlink:to="lab_us-gaap_RepaymentsOfLongTermDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BusinessAcquisitionProFormaInformationTextBlock_ff81e83c-0554-48fb-b115-deec3a481052_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionProFormaInformationTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business Acquisition, Pro Forma Information</link:label>
    <link:label id="lab_us-gaap_BusinessAcquisitionProFormaInformationTextBlock_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionProFormaInformationTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Acquisition, Pro Forma Information [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessAcquisitionProFormaInformationTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BusinessAcquisitionProFormaInformationTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionProFormaInformationTextBlock" xlink:to="lab_us-gaap_BusinessAcquisitionProFormaInformationTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityCentralIndexKey_cce64681-7224-481f-90cf-10814820206f_terseLabel_en-US" xlink:label="lab_dei_EntityCentralIndexKey" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</link:label>
    <link:label id="lab_dei_EntityCentralIndexKey_label_en-US" xlink:label="lab_dei_EntityCentralIndexKey" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityCentralIndexKey" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCentralIndexKey"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCentralIndexKey" xlink:to="lab_dei_EntityCentralIndexKey" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PrepaidExpenseCurrentAndNoncurrent_1545a5f5-bd71-40bd-b784-8856b9f71cd1_terseLabel_en-US" xlink:label="lab_us-gaap_PrepaidExpenseCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prepaid expense</link:label>
    <link:label id="lab_us-gaap_PrepaidExpenseCurrentAndNoncurrent_label_en-US" xlink:label="lab_us-gaap_PrepaidExpenseCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Prepaid Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PrepaidExpenseCurrentAndNoncurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PrepaidExpenseCurrentAndNoncurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PrepaidExpenseCurrentAndNoncurrent" xlink:to="lab_us-gaap_PrepaidExpenseCurrentAndNoncurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SegmentReportingInformationLineItems_a59f16e8-f07f-4faf-90f2-b92f78e1b794_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentReportingInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Segment Reporting Information [Line Items]</link:label>
    <link:label id="lab_us-gaap_SegmentReportingInformationLineItems_label_en-US" xlink:label="lab_us-gaap_SegmentReportingInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segment Reporting Information [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SegmentReportingInformationLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SegmentReportingInformationLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentReportingInformationLineItems" xlink:to="lab_us-gaap_SegmentReportingInformationLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AllocatedShareBasedCompensationExpense_0bc30720-b632-4e7f-a6e6-1716933947bb_netLabel_en-US" xlink:label="lab_us-gaap_AllocatedShareBasedCompensationExpense" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Equity-based compensation</link:label>
    <link:label id="lab_us-gaap_AllocatedShareBasedCompensationExpense_59d9877b-28fc-43f7-9a8a-ab59902e89a1_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_AllocatedShareBasedCompensationExpense" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Less: Equity-based compensation expense</link:label>
    <link:label id="lab_us-gaap_AllocatedShareBasedCompensationExpense_label_en-US" xlink:label="lab_us-gaap_AllocatedShareBasedCompensationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AllocatedShareBasedCompensationExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AllocatedShareBasedCompensationExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AllocatedShareBasedCompensationExpense" xlink:to="lab_us-gaap_AllocatedShareBasedCompensationExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsGross_84e58b48-dd4c-44de-8002-970685913463_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsGross" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquired intangible assets</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsGross_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsGross" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Gross</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsGross" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_FiniteLivedIntangibleAssetsGross"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsGross" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsGross" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_SecurityDepositsAndMaintenanceClaims_e1e7f88f-d1eb-4a36-9817-6cfb037a16e3_negatedLabel_en-US" xlink:label="lab_ftai_SecurityDepositsAndMaintenanceClaims" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Security deposits and maintenance claims included in earnings</link:label>
    <link:label id="lab_ftai_SecurityDepositsAndMaintenanceClaims_label_en-US" xlink:label="lab_ftai_SecurityDepositsAndMaintenanceClaims" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Security Deposits and Maintenance Claims</link:label>
    <link:label id="lab_ftai_SecurityDepositsAndMaintenanceClaims_documentation_en-US" xlink:label="lab_ftai_SecurityDepositsAndMaintenanceClaims" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Security Deposits and Maintenance Claims</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_SecurityDepositsAndMaintenanceClaims" xlink:href="ftai-20240331.xsd#ftai_SecurityDepositsAndMaintenanceClaims"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_SecurityDepositsAndMaintenanceClaims" xlink:to="lab_ftai_SecurityDepositsAndMaintenanceClaims" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeTaxExpenseBenefit_757f99b8-f44d-4cf9-aa2e-d4b92a773d4e_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Provision for income taxes</link:label>
    <link:label id="lab_us-gaap_IncomeTaxExpenseBenefit_8f21eeaa-3d5a-4254-b047-791ec4e80997_totalLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total provision for income taxes</link:label>
    <link:label id="lab_us-gaap_IncomeTaxExpenseBenefit_3f808683-924c-4019-945f-f7d97465fc98_verboseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Provision for income taxes</link:label>
    <link:label id="lab_us-gaap_IncomeTaxExpenseBenefit_ff6ec17a-bccf-47be-bff2-59ef121aa9f2_negatedLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Less: Provision for income taxes</link:label>
    <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" xml:lang="en-US">Income Tax Expense (Benefit)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncomeTaxExpenseBenefit"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit" xlink:to="lab_us-gaap_IncomeTaxExpenseBenefit" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NonUsMember_eefb2328-7ccf-4391-ab8e-5374d8568755_terseLabel_en-US" xlink:label="lab_us-gaap_NonUsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-U.S.</link:label>
    <link:label id="lab_us-gaap_NonUsMember_label_en-US" xlink:label="lab_us-gaap_NonUsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-US [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NonUsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NonUsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NonUsMember" xlink:to="lab_us-gaap_NonUsMember" xlink:type="arc" order="1"/>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables"/>
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    <link:label id="lab_ftai_AccruedManagementFeesMember_fba87d9d-5cf1-4bc0-a117-027974d5fbf9_terseLabel_en-US" xlink:label="lab_ftai_AccruedManagementFeesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued management fees</link:label>
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    <link:label id="lab_ftai_AccruedManagementFeesMember_documentation_en-US" xlink:label="lab_ftai_AccruedManagementFeesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accrued Management Fees</link:label>
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    <link:label id="lab_us-gaap_FairValueDisclosuresTextBlock_b9b5aff5-c571-4e23-87de-35b3eb52ed6b_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FAIR VALUE MEASUREMENTS</link:label>
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    <link:label id="lab_us-gaap_PaymentsOfFinancingCosts_9768c8d8-3ab3-48f5-a8ce-b03e774c549b_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfFinancingCosts" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Payment of deferred financing costs</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfFinancingCosts" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PaymentsOfFinancingCosts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsOfFinancingCosts" xlink:to="lab_us-gaap_PaymentsOfFinancingCosts" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DividendsPreferredStockCash_b7039d75-17c5-4526-8d72-4ce47db163b0_negatedLabel_en-US" xlink:label="lab_us-gaap_DividendsPreferredStockCash" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Dividends declared - preferred shares</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsPreferredStockCash" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DividendsPreferredStockCash"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsPreferredStockCash" xlink:to="lab_us-gaap_DividendsPreferredStockCash" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OperatingCostsAndExpenses_fcb1c042-3bca-4977-af96-a2006a4d20f1_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingCostsAndExpenses" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating expenses</link:label>
    <link:label id="lab_us-gaap_OperatingCostsAndExpenses_label_en-US" xlink:label="lab_us-gaap_OperatingCostsAndExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Costs and Expenses</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingCostsAndExpenses" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OperatingCostsAndExpenses"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingCostsAndExpenses" xlink:to="lab_us-gaap_OperatingCostsAndExpenses" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromCollectionOfLeaseReceivables_6bf17fa7-ed57-4273-98e6-a991e984a5e7_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromCollectionOfLeaseReceivables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Principal collections on finance leases</link:label>
    <link:label id="lab_us-gaap_ProceedsFromCollectionOfLeaseReceivables_label_en-US" xlink:label="lab_us-gaap_ProceedsFromCollectionOfLeaseReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Collection of Lease Receivables</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromCollectionOfLeaseReceivables" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ProceedsFromCollectionOfLeaseReceivables"/>
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    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues_993b3b82-6acf-4bb8-9fe2-6d540c259953_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Issuance of ordinary shares</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Value, New Issues</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StockIssuedDuringPeriodValueNewIssues"/>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet"/>
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    <link:label id="lab_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_a3c40bba-6bca-455a-8d9c-fd24718e3727_terseLabel_en-US" xlink:label="lab_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total revenue</link:label>
    <link:label id="lab_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_label_en-US" xlink:label="lab_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue from Contract with Customer, Excluding Assessed Tax</link:label>
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    <link:label id="lab_us-gaap_LongtermDebtTypeAxis_9c88e436-c40e-4b36-8991-b2a46f1bf8f7_terseLabel_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-term Debt, Type [Axis]</link:label>
    <link:label id="lab_us-gaap_LongtermDebtTypeAxis_label_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongtermDebtTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LongtermDebtTypeAxis"/>
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    <link:label id="lab_ftai_IncreaseinSecurityDeposits_a27b0c54-87f6-4204-98c2-3073dfdc131b_terseLabel_en-US" xlink:label="lab_ftai_IncreaseinSecurityDeposits" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Receipt of security deposits</link:label>
    <link:label id="lab_ftai_IncreaseinSecurityDeposits_label_en-US" xlink:label="lab_ftai_IncreaseinSecurityDeposits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase in Security Deposits</link:label>
    <link:label id="lab_ftai_IncreaseinSecurityDeposits_documentation_en-US" xlink:label="lab_ftai_IncreaseinSecurityDeposits" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Increase in Security Deposits</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_IncreaseinSecurityDeposits" xlink:href="ftai-20240331.xsd#ftai_IncreaseinSecurityDeposits"/>
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    <link:label id="lab_dei_AmendmentFlag_9bb7183a-e367-4736-95bc-1e7663a2ca37_terseLabel_en-US" xlink:label="lab_dei_AmendmentFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amendment Flag</link:label>
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    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears_77475a7f-d1c0-4773-8fe7-4a3a1fb97124_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2026</link:label>
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    <link:label id="lab_ftai_SeniorNotesDue2030Member_66f7a987-77f4-43b1-a539-32f95f70167b_terseLabel_en-US" xlink:label="lab_ftai_SeniorNotesDue2030Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Senior Notes due 2030</link:label>
    <link:label id="lab_ftai_SeniorNotesDue2030Member_label_en-US" xlink:label="lab_ftai_SeniorNotesDue2030Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Notes due 2030 [Member]</link:label>
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    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNetAbstract_b7987dc1-9e56-4c9c-9524-67fb644c326e_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNetAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible assets:</link:label>
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    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_78ec12bc-1744-463b-9c6a-c0b8f48e6643_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsToAcquireEquipmentOnLease_f2d39b31-7174-4612-9915-0153b0ed408e_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireEquipmentOnLease" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" 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" 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"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireEquipmentOnLease" xlink:to="lab_us-gaap_PaymentsToAcquireEquipmentOnLease" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_13bb6f1a-0057-40df-8153-fca96dac619b_totalLabel_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total comprehensive income</link:label>
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest</link:label>
    <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"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:to="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CreditFacilityDomain_7bcb9b66-3d0a-420c-b368-7384972f71f2_terseLabel_en-US" xlink:label="lab_us-gaap_CreditFacilityDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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_MaintenanceRightAssets_cfe04a41-8a32-4876-bdd9-fe2374856019_terseLabel_en-US" xlink:label="lab_ftai_MaintenanceRightAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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" xml:lang="en-US">Maintenance Right Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_MaintenanceRightAssets" xlink:href="ftai-20240331.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_StockIssuedDuringPeriodSharesIssuedForServices_02f8a755-81d9-4ddb-9966-e8af1d88538f_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stocks issued during period for services (in shares)</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Shares, Issued for Services</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StockIssuedDuringPeriodSharesIssuedForServices"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices" xlink:to="lab_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_471b3ae7-4410-403b-8909-6dc591b35f44_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basis spread</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Basis Spread on Variable Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:to="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_d85441c2-57bc-4aa2-aa23-0409afdb17b4_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Useful life</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" 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_1a8dfb86-a43d-4c16-b445-e94338e9835a_terseLabel_en-US" xlink:label="lab_ftai_Threshold2Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" 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" xml:lang="en-US">Threshold 2 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_Threshold2Member" xlink:href="ftai-20240331.xsd#ftai_Threshold2Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_Threshold2Member" xlink:to="lab_ftai_Threshold2Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_48706b44-98ee-457f-93b5-23acae842225_terseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Diluted (in shares)</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_ffea6a6f-96ea-4c10-8ecf-8d3e7bed8791_verboseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Weighted Average Common Shares Outstanding - Diluted (in shares)</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_label_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Diluted</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_4e8f190d-12a7-4db5-a76b-0a954a459d19_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible assets</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill" xlink:to="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OperatingExpensesAbstract_92181706-dc1b-4bd7-8b18-101614594e12_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expenses</link:label>
    <link:label id="lab_us-gaap_OperatingExpensesAbstract_b2bc80ad-2370-4ca0-ab16-ecef6a02690a_verboseLabel_en-US" xlink:label="lab_us-gaap_OperatingExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Expenses</link:label>
    <link:label id="lab_us-gaap_OperatingExpensesAbstract_label_en-US" xlink:label="lab_us-gaap_OperatingExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Expenses [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingExpensesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_OperatingExpensesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingExpensesAbstract" xlink:to="lab_us-gaap_OperatingExpensesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_78d68088-9d67-413d-99f8-0598e97b4daf_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Acquisition of property, plant and equipment</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Property, Plant, and Equipment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:to="lab_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_AmortizationofIntangibleAssetsandLiabilitiesNet_23eb553e-fa34-4049-9d24-c6e4ff00c79d_totalLabel_en-US" xlink:label="lab_ftai_AmortizationofIntangibleAssetsandLiabilitiesNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_ftai_AmortizationofIntangibleAssetsandLiabilitiesNet_label_en-US" xlink:label="lab_ftai_AmortizationofIntangibleAssetsandLiabilitiesNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of Intangible Assets and Liabilities, Net</link:label>
    <link:label id="lab_ftai_AmortizationofIntangibleAssetsandLiabilitiesNet_documentation_en-US" xlink:label="lab_ftai_AmortizationofIntangibleAssetsandLiabilitiesNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amortization of Intangible Assets and Liabilities, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_AmortizationofIntangibleAssetsandLiabilitiesNet" xlink:href="ftai-20240331.xsd#ftai_AmortizationofIntangibleAssetsandLiabilitiesNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_AmortizationofIntangibleAssetsandLiabilitiesNet" xlink:to="lab_ftai_AmortizationofIntangibleAssetsandLiabilitiesNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AdditionalPaidInCapitalMember_8212e38a-a5e3-4bc5-a9d5-d828c6580e9e_terseLabel_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional Paid In Capital</link:label>
    <link:label id="lab_us-gaap_AdditionalPaidInCapitalMember_label_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional Paid-in Capital [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdditionalPaidInCapitalMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AdditionalPaidInCapitalMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdditionalPaidInCapitalMember" xlink:to="lab_us-gaap_AdditionalPaidInCapitalMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BalanceSheetLocationAxis_1c228855-a654-4373-ab61-3aa19ae4ef13_terseLabel_en-US" xlink:label="lab_us-gaap_BalanceSheetLocationAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Balance Sheet Location [Axis]</link:label>
    <link:label id="lab_us-gaap_BalanceSheetLocationAxis_label_en-US" xlink:label="lab_us-gaap_BalanceSheetLocationAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Balance Sheet Location [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BalanceSheetLocationAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_BalanceSheetLocationAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BalanceSheetLocationAxis" xlink:to="lab_us-gaap_BalanceSheetLocationAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_Assets_a3ae9547-c954-40b7-8134-64ab2df03102_totalLabel_en-US" xlink:label="lab_us-gaap_Assets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total assets</link:label>
    <link:label id="lab_us-gaap_Assets_label_en-US" xlink:label="lab_us-gaap_Assets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Assets" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_Assets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Assets" xlink:to="lab_us-gaap_Assets" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeLossFromEquityMethodInvestments_60134331-c259-43d1-b239-8c79adf4ae51_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity in losses of unconsolidated entities</link:label>
    <link:label id="lab_us-gaap_IncomeLossFromEquityMethodInvestments_6e033e50-8b82-4cda-98d8-453bf097584b_verboseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Income (loss)</link:label>
    <link:label id="lab_us-gaap_IncomeLossFromEquityMethodInvestments_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income (Loss) from Equity Method Investments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncomeLossFromEquityMethodInvestments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:to="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LossContingenciesLineItems_bf694fcb-41ea-4eb6-a755-aa373c8c1eb1_terseLabel_en-US" xlink:label="lab_us-gaap_LossContingenciesLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loss Contingencies [Line Items]</link:label>
    <link:label id="lab_us-gaap_LossContingenciesLineItems_label_en-US" xlink:label="lab_us-gaap_LossContingenciesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loss Contingencies [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LossContingenciesLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_LossContingenciesLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LossContingenciesLineItems" xlink:to="lab_us-gaap_LossContingenciesLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_ProceedsFromSaleofEquipmentonLease_aef749dd-6f6c-4440-b3cb-f68cde88c1ee_terseLabel_en-US" xlink:label="lab_ftai_ProceedsFromSaleofEquipmentonLease" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from sale of leasing equipment</link:label>
    <link:label id="lab_ftai_ProceedsFromSaleofEquipmentonLease_label_en-US" xlink:label="lab_ftai_ProceedsFromSaleofEquipmentonLease" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds From Sale of Equipment on Lease</link:label>
    <link:label id="lab_ftai_ProceedsFromSaleofEquipmentonLease_documentation_en-US" xlink:label="lab_ftai_ProceedsFromSaleofEquipmentonLease" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proceeds From Sale of Equipment on Lease</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_ProceedsFromSaleofEquipmentonLease" xlink:href="ftai-20240331.xsd#ftai_ProceedsFromSaleofEquipmentonLease"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_ProceedsFromSaleofEquipmentonLease" xlink:to="lab_ftai_ProceedsFromSaleofEquipmentonLease" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_CoverAbstract_3453be2a-2df8-4a07-b611-6570f88940d0_terseLabel_en-US" xlink:label="lab_dei_CoverAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cover page.</link:label>
    <link:label id="lab_dei_CoverAbstract_label_en-US" xlink:label="lab_dei_CoverAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cover [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_CoverAbstract" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CoverAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CoverAbstract" xlink:to="lab_dei_CoverAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentUnamortizedPremium_4144140a-bd52-4bd3-a380-d91ffdf05ab7_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedPremium" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unamortized premium</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentUnamortizedPremium_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedPremium" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Unamortized Premium</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentUnamortizedPremium" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_DebtInstrumentUnamortizedPremium"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentUnamortizedPremium" xlink:to="lab_us-gaap_DebtInstrumentUnamortizedPremium" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsequentEventsTextBlock_b606b9bc-f151-42ee-ac75-3fe5faf491f1_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">SUBSEQUENT EVENTS</link:label>
    <link:label id="lab_us-gaap_SubsequentEventsTextBlock_label_en-US" xlink:label="lab_us-gaap_SubsequentEventsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Events [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SubsequentEventsTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventsTextBlock" xlink:to="lab_us-gaap_SubsequentEventsTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue_cdef7e5b-734a-494d-86d9-4525c5fa9b6b_verboseLabel_en-US" xlink:label="lab_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Equity-based compensation</link:label>
    <link:label id="lab_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue_label_en-US" xlink:label="lab_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">APIC, Share-Based Payment Arrangement, Increase for Cost Recognition</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:to="lab_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AmortizationOfFinancingCosts_bc983424-36ca-408d-ab69-b1f43f730903_verboseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfFinancingCosts" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Amortization of deferred financing costs</link:label>
    <link:label id="lab_us-gaap_AmortizationOfFinancingCosts_label_en-US" xlink:label="lab_us-gaap_AmortizationOfFinancingCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of Debt Issuance Costs</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AmortizationOfFinancingCosts" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_AmortizationOfFinancingCosts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AmortizationOfFinancingCosts" xlink:to="lab_us-gaap_AmortizationOfFinancingCosts" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SeriesAPreferredStockMember_818c6764-1902-4832-8b99-42a6fb1db134_terseLabel_en-US" xlink:label="lab_us-gaap_SeriesAPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series A Preferred Shares</link:label>
    <link:label id="lab_us-gaap_SeriesAPreferredStockMember_label_en-US" xlink:label="lab_us-gaap_SeriesAPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series A Preferred Stock [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SeriesAPreferredStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SeriesAPreferredStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SeriesAPreferredStockMember" xlink:to="lab_us-gaap_SeriesAPreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeTaxContingencyLineItems_2ccad9c8-7843-4631-bb74-42a27dc2a0f0_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxContingencyLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Tax Contingency [Line Items]</link:label>
    <link:label id="lab_us-gaap_IncomeTaxContingencyLineItems_label_en-US" xlink:label="lab_us-gaap_IncomeTaxContingencyLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Contingency [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxContingencyLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_IncomeTaxContingencyLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxContingencyLineItems" xlink:to="lab_us-gaap_IncomeTaxContingencyLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SegmentReportingDisclosureTextBlock_0bf63536-b9eb-411e-9fd4-8e8fc8df7886_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentReportingDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">SEGMENT INFORMATION</link:label>
    <link:label id="lab_us-gaap_SegmentReportingDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_SegmentReportingDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segment Reporting Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SegmentReportingDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SegmentReportingDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentReportingDisclosureTextBlock" xlink:to="lab_us-gaap_SegmentReportingDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_d3ae3cb1-e023-4945-95d0-6c22b490a7bf_totalLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net decrease in cash and cash equivalents and restricted cash</link:label>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_label_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:to="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_a1795f3d-75cb-4c77-8d00-8811b509019f_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flows from financing activities:</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Financing Activities [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_OtherPayablesMember_266368d9-7575-407f-8c69-6611b5784353_terseLabel_en-US" xlink:label="lab_ftai_OtherPayablesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other payables</link:label>
    <link:label id="lab_ftai_OtherPayablesMember_label_en-US" xlink:label="lab_ftai_OtherPayablesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Payables [Member]</link:label>
    <link:label id="lab_ftai_OtherPayablesMember_documentation_en-US" xlink:label="lab_ftai_OtherPayablesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Payables</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_OtherPayablesMember" xlink:href="ftai-20240331.xsd#ftai_OtherPayablesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_OtherPayablesMember" xlink:to="lab_ftai_OtherPayablesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityComponentDomain_fff16511-02a4-43b4-bccc-a773e530c393_terseLabel_en-US" xlink:label="lab_us-gaap_EquityComponentDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Component [Domain]</link:label>
    <link:label id="lab_us-gaap_EquityComponentDomain_label_en-US" xlink:label="lab_us-gaap_EquityComponentDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Component [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityComponentDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_EquityComponentDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityComponentDomain" xlink:to="lab_us-gaap_EquityComponentDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_DecreaseinSecurityDeposits_a117a8c1-bc18-4231-9843-11722f907a48_negatedTerseLabel_en-US" xlink:label="lab_ftai_DecreaseinSecurityDeposits" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Return of security deposits</link:label>
    <link:label id="lab_ftai_DecreaseinSecurityDeposits_label_en-US" xlink:label="lab_ftai_DecreaseinSecurityDeposits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Decrease in Security Deposits</link:label>
    <link:label id="lab_ftai_DecreaseinSecurityDeposits_documentation_en-US" xlink:label="lab_ftai_DecreaseinSecurityDeposits" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Decrease in Security Deposits</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_DecreaseinSecurityDeposits" xlink:href="ftai-20240331.xsd#ftai_DecreaseinSecurityDeposits"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_DecreaseinSecurityDeposits" xlink:to="lab_ftai_DecreaseinSecurityDeposits" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_AmortizationofLeaseIntangibleAssetsandLiabilitiesNet_2809ac55-22f7-4975-b92b-688b0d92956b_terseLabel_en-US" xlink:label="lab_ftai_AmortizationofLeaseIntangibleAssetsandLiabilitiesNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" 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" xml:lang="en-US">Amortization of Lease Intangible Assets and Liabilities, Net</link:label>
    <link:label id="lab_ftai_AmortizationofLeaseIntangibleAssetsandLiabilitiesNet_documentation_en-US" xlink:label="lab_ftai_AmortizationofLeaseIntangibleAssetsandLiabilitiesNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amortization of Lease Intangible Assets and Liabilities, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_AmortizationofLeaseIntangibleAssetsandLiabilitiesNet" xlink:href="ftai-20240331.xsd#ftai_AmortizationofLeaseIntangibleAssetsandLiabilitiesNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_AmortizationofLeaseIntangibleAssetsandLiabilitiesNet" xlink:to="lab_ftai_AmortizationofLeaseIntangibleAssetsandLiabilitiesNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNet_ad1920a6-20e2-4d57-9e5b-518be62439ca_terseLabel_en-US" xlink:label="lab_us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Leasing equipment, net</link:label>
    <link:label id="lab_us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNet_label_en-US" xlink:label="lab_us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant, and Equipment, Lessor Asset under Operating Lease, after Accumulated Depreciation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNet" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNet" xlink:to="lab_us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNet" xlink:type="arc" order="1"/>
    <link:label id="lab_ftai_AdvancedEngineRepairJVMember_fcef4247-d6d5-4af4-a7b8-dfbc244bf270_terseLabel_en-US" xlink:label="lab_ftai_AdvancedEngineRepairJVMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Advanced Engine Repair JV</link:label>
    <link:label id="lab_ftai_AdvancedEngineRepairJVMember_a2c3b47b-3f7f-4f08-825a-f41681e1aab1_verboseLabel_en-US" xlink:label="lab_ftai_AdvancedEngineRepairJVMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Advanced Engine Repair JV</link:label>
    <link:label id="lab_ftai_AdvancedEngineRepairJVMember_bb799a70-a7ba-489e-91b0-0ff8c544b3e5_netLabel_en-US" xlink:label="lab_ftai_AdvancedEngineRepairJVMember" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Advanced Engine Repair JV</link:label>
    <link:label id="lab_ftai_AdvancedEngineRepairJVMember_label_en-US" xlink:label="lab_ftai_AdvancedEngineRepairJVMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Advanced Engine Repair JV [Member]</link:label>
    <link:label id="lab_ftai_AdvancedEngineRepairJVMember_documentation_en-US" xlink:label="lab_ftai_AdvancedEngineRepairJVMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Advanced Engine Repair JV[Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ftai_AdvancedEngineRepairJVMember" xlink:href="ftai-20240331.xsd#ftai_AdvancedEngineRepairJVMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ftai_AdvancedEngineRepairJVMember" xlink:to="lab_ftai_AdvancedEngineRepairJVMember" xlink:type="arc" order="1"/>
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    <link:label id="lab_us-gaap_ConcentrationRiskTypeDomain_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk Type [Domain]</link:label>
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    <link:label id="lab_us-gaap_UnamortizedDebtIssuanceExpense_8a587de3-2d73-483b-b680-a830d8938332_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_UnamortizedDebtIssuanceExpense" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Less: Debt issuance costs</link:label>
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    <link:label id="lab_us-gaap_ConcentrationRiskByBenchmarkAxis_d9db6bd9-d922-405b-a7c4-f8d0f26e80ea_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Concentration Risk Benchmark [Axis]</link:label>
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    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentOtherTypesMember_f2824470-f016-48c2-ab7e-f44f68bb744d_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentOtherTypesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
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    <link:label id="lab_us-gaap_RevenuesAbstract_label_en-US" xlink:label="lab_us-gaap_RevenuesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenues [Abstract]</link:label>
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    <link:label id="lab_ftai_EquityMethodInvestmentProRataDistributionOfIncomePercentage_f1619915-baee-417c-9d3b-5a2a780678e1_terseLabel_en-US" xlink:label="lab_ftai_EquityMethodInvestmentProRataDistributionOfIncomePercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pro rata distribution of income, percentage</link:label>
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    <link:label id="lab_us-gaap_SeriesCPreferredStockMember_ac4a44e4-612f-4afd-b11b-ac23815f9d75_terseLabel_en-US" xlink:label="lab_us-gaap_SeriesCPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series C Preferred Stock</link:label>
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    <link:label id="lab_ftai_AviationLeasingMember_7c785062-e29d-4081-b2e0-3fd48b7dac18_terseLabel_en-US" xlink:label="lab_ftai_AviationLeasingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aviation Leasing</link:label>
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    <link:label id="lab_us-gaap_RelatedPartyTransactionAxis_1956f9b9-b2f5-4fe7-a03e-3cce9b71e3aa_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party Transaction [Axis]</link:label>
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