Sale and lease back of two Boeing 767-300 aircraft after freighter conversations for Icelandair

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.

Atlas Air Worldwide Reports Second-Quarter 2019 Results

Atlas Air Worldwide Holdings, Inc. has announced its second-quarter 2019 income from continuing operations, net of taxes, of $86.9 million, or $1.61 per diluted share, compared with a reported loss of $21.1 million, or $0.83 per diluted share, in the second quarter of 2018.

Reported results in the second quarter of 2019 included $59.8 million of tax benefits related to the favourable completion of an Internal Revenue Service examination of the company’s 2015 income tax return and an unrealized gain on outstanding warrants of $42.3 million. Reported results for the second quarter of 2018 included an unrealized loss on outstanding warrants of $50.0 million. 

Atlas Air Worldwide announces expansion of customer flying

Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) today announced the start of increased 777-200F CMI service for DHL Express, the addition of a third 747-400F for Asiana Cargo, and the beginning of a long-term, 747-400F charter program for one of the world’s largest technology companies.

DHL Express has awarded operation of the first two of its new Boeing 777-200 Freighters to Atlas’ Southern Air, Inc. unit, with an opportunity for additional aircraft in the future as DHL awards the remaining 12 deliveries in its 777 aircraft order.

The new flying for DHL represents a continued expansion of Atlas’ CMI (crew, maintenance and insurance) service. The two CMI aircraft are the seventh and eighth 777s to be operated by Southern Air for DHL. They will be flown on key global routes and will assist DHL in meeting the increasing demand for its express services. The aircraft are expected to begin scheduled operations in June and July 2019.

Atlas Air Worldwide Reports First-Quarter Results, Updates Full-Year 2019 Outlook

Increased Volumes and Revenue Reflect Customer Demand, Fleet Growth

Reported Results Impacted by Warrant Accounting

Adjusted Net Income and Adjusted EBITDA Rose Sharply

Atlas Air Worldwide today announced continued volume, revenue and earnings growth, excluding the impact of warrant accounting, for the first quarter of 2019. The company also provided an updated full-year growth outlook that reflects the scheduled start-up in 2019 of new long-term 737-800 CMI business.

On a reported basis, results for the first quarter of 2019 were a net loss of $29.7 million, or $1.15 per diluted share, compared with reported income of $9.6 million, or $0.37 per diluted share, in the first quarter of 2018. Reported results for the latest quarter included an unrealized loss on outstanding warrants of $46.6 million compared with an unrealized loss on outstanding warrants of $7.7 million in the year-ago period. 

KLM to codeshare with AtlasGlobal

Starting  29th October KLM will be entering into a codeshare agreement with AtlasGlobal. Based on cooperation, KLM and the Turkish airline will jointly offer 14 weekly flights between Amsterdam and Istanbul Atatürk Airport. 

"Cooperating with AtlasGlobal serves to strengthen KLM’s network in the region, offering passengers more transfer options and, in time, a greater number of destinations in Turkey.Turkey is an important destination for business and leisure passengers. AtlasGlobal is a particularly reliable partner, delivering a good product. " Said Barry ter Voert, Senior Vice President Europe KLM