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Titan announces purchase from Icelandair


Titan announces purchase from Icelandair
Titan Aircraft Investments, the joint venture between Titan Aviation Holdings and Bain Capital Credit, today 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. (NASDAQ: AAWW), 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.” ....

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Two Icelandair 767s to be converted to freighters in leaseback deal


By David Kaminski-Morrow2021-03-10T16:16:00+00:00
Icelandair Group has reached a sale-and-leaseback agreement for a pair of Boeing 767-300ER which will be converted into freighters.
The aircraft are being sold to Atlas Air Worldwide Holdings’ associated joint venture Titan Aircraft Investments.
Icelandair Group says the 767s will be converted in spring next year and be re-introduced, to the fleet of Icelandair Cargo, in September 2022.
They will replace a pair of Boeing 757-200 freighters which will be withdrawn from the fleet in 2023-24.
“Until then, the aircraft will be operated within Icelandair Group’s passenger network and leasing operations,” the company states. ....

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