Titan Aviation Leasing, a subsidiary of Atlas Air Worldwide, has completed the sale of two Boeing 737-800SF aircraft to Singapore-based global technology, defence and engineering powerhouse ST Engineering. The transaction marks another step in Titan’s ongoing strategy to redeploy capital from mature assets into next-generation aircraft, while ensuring operational continuity for its lessees.
The aircraft, both converted from passenger to freighter (P2F) configuration in 2022, remain on long-term lease to Georgian Airlines and ASL Airlines. Titan Aviation Leasing, formed as a joint venture with Bain Capital, highlighted that the sale structure ensures steady cash flow from established operators while enabling reinvestment into newer assets.
Ramesh Krishna, head of aircraft leasing at ST Engineering’s Aviation Asset Management arm, said the acquisition reinforces the company’s focus on expanding its portfolio of modern green freighters. “Our collaboration with Titan adds two important lessees and narrowbody freighters as we continue to build up our portfolio of next-generation green freighter aircraft, underscoring our commitment to maintaining fleet flexibility and creating long-term value in a dynamic cargo market,” he said.
Atlas Air emphasised that the sale reflects Titan’s balanced approach to capital allocation. “This transaction demonstrates our disciplined approach to capital allocation,” said Eamonn Forbes, chief commercial officer at Titan Aviation Leasing. “Selling in-service aircraft to a strategic partner like ST Engineering allows us to realise value while ensuring continuity for our airline customers. It also positions us to pursue accretive growth opportunities in a market where demand for modern freighter capacity continues to outpace supply.”
Atlas Air Worldwide chief executive Michael Steen added that the sale underscores Titan’s agile and collaborative asset management model. “This sale is a testament to Titan’s versatile asset management model. It reflects our proven ability to collaborate with industry leaders and generate value throughout the freighter lifecycle.”
The deal follows Titan’s recent activity in the wider freighter market. In September, Mexican cargo carrier mas expanded its fleet with two Airbus A330-300 P2F aircraft on lease from Titan Aviation Leasing, further solidifying Titan’s position as a key lessor in the global cargo aviation sector.
