Titan Aircraft Investments has confirmed it has purchased two 767-300ER aircraft from Icelandair and now these aircraft will be converted into freighters before being leased back to the Reykjavik based airline.
Titan Aviation Holdings, a joint venture between Titan Aviation Holdings and Bain Capital Credit is a subsidiary of Atlas Air Worldwide Holdings Inc, will manage these aircraft.
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.