Titan Aircraft Investments and Icelandair Announce Long-term Agreement for the Sale and Leaseback of Two Boeing 767-300ER Aircraft


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 Inc. will manage these assets.

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 a 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% 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.

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“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 Worldwide.www.atlasairworldwide.com.

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Devender was born in the year when the Beatles Group was formed. He holds two master’s degrees in English Literature and Public Administration. He also has an Honors degree in English Literature and a post-graduate diploma in Corporate Communications and Public Relations. He was closely associated with the Indian State Transport Undertakings and Ministry of Transport in his role as Corporate Communications and PR specialist for over two decades handling domestic and international organizations. He ventured into business forming his own Media House, Profiles Media Network Private Limited which is now a twenty years old company. Excelling as an editor, Marketing, PR, Anchor, and Advertising specialist, he is now expertly navigating the world of social media. A widely traveled professional internationally, Devender has a deep understanding of the Air Cargo, Cargo Business, Cargo Airports, Freighters and Cargo Industry at large.