Titan Aircraft acquires two 767-300ER aircraft from Icelandair
Titan Aircraft Investments, the joint venture between Titan Aviation Holdings and Bain Capital Credit, has announced the acquisition of two 767-300ER aircraft from Icelandair.
Titan Aircraft Investments, the joint venture between Titan
Aviation Holdings and Bain Capital Credit, has announced the acquisition of two
767-300ER aircraft from Icelandair.
These aircraft will be converted to freighters and placed on long-term
leases to Icelandair. Titan Aviation
Holdings, a subsidiary of Atlas Air Worldwide Holdings, will manage these
Michael T. Steen, president and chief executive officer of
Titan Aviation Holdings, said, “We are delighted to welcome Icelandair as a
strategic customer and to support their long-term expansion plans. The
767-300ER is a very attractive medium-sized freighter and we are excited to
manage these two aircraft on behalf of the joint venture. We currently own 21 767-300ER
freighters, which provide us with extensive experience in this aircraft type.”
With the addition of these two 767s, Titan Aircraft
Investments’ portfolio has grown to three aircraft, which also includes a
777-200 freighter. Titan Aircraft Investments’ aircraft portfolio is managed by
Titan Aviation Holdings.
Titan Aviation Holdings has the most diversified and one of
the largest freighter portfolios in the world, including 777, 767 and 737
aircraft. Titan Aviation Holdings’ customers include Aerologic, Amazon, China
Postal, DHL Express and FedEx, among others.
“We are very pleased to partner with Titan Aircraft
Investments and Atlas Air to further strengthen our cargo business. With
continued positive outlook for cargo operations post-Covid, I am confident that
the 767-300ER freighters will allow us to maximize new opportunities in our
markets. These aircraft carry around 50 percent more freight than our current
two B757-200 freighters and fit very well into our current fleet and network.
Our aim is to increase the capacity in our markets, as well as strengthen
Iceland as a hub for cargo, in a similar way as our passenger hub that provides
attractive connections between continents,” said Bogi Nils Bogason, president
and CEO of Icelandair Group.
“We are uniquely positioned to deliver value to our growing
portfolio of customers as we continue to invest in market-leading assets,
combined with the unique and diversified services our group of companies offer,”
said John W. Dietrich, president and chief executive officer of Atlas Air