Titan Aviation Investments and Amerijet International Announce Long-Term Dry Lease Agreements for Three Boeing 757 Aircraft
April 06 2022 - 8:00AM
Titan Aircraft Investments, the joint venture between Titan
Aviation Holdings, Inc. and Bain Capital Credit, today announced
the placement of three Boeing 757-200SF converted freighters on
long-term dry leases with Amerijet International Inc. to support
its network in Central America and the Caribbean. Titan Aviation
Holdings, a subsidiary of Atlas Air Worldwide Holdings Inc.
(NASDAQ: AAWW), will manage these assets.
“We are delighted to welcome Amerijet as a
strategic customer and to support its long-term expansion plans.
This partnership underscores the trust our customers have in
Titan’s expertise in freighters,” said Michael Steen, President and
Chief Executive Officer of Titan Aviation Holdings and Chief
Commercial Officer of Atlas Air Worldwide.
“I’m incredibly proud of our employees who
worked tirelessly to bring the B757 project to fruition. These
aircraft will be a wonderful addition to our fleet, giving us a
platform for continued growth as we approach 50 years of continuous
service from our home base in Miami, Florida,” said Tim Strauss,
Amerijet’s Chief Executive Officer.
Titan Aviation Holdings and Bain Capital Credit
formed a long-term joint venture in 2019 to develop a diversified
freighter aircraft leasing portfolio with an anticipated value of
approximately $1 billion. The long-term joint venture capitalizes
on demand for cargo aircraft, underpinned by robust e-commerce and
express market growth.
Under the joint venture, Titan provides aircraft- and
lease-management services.
About Titan Aviation Holdings and Atlas
Air Worldwide:
Titan Aviation Holdings is a freighter-centric
leasing company that provides dry leasing solutions to airlines
worldwide. Titan’s fleet of cargo aircraft support customers,
including international flag carriers, express operators,
e-commerce providers, and regional and domestic carriers. Titan’s
deep airfreight domain expertise and innovative asset management
solutions help customers quickly ramp up their aviation operations
while minimizing capital investment. Since its inception in 2009,
Titan has grown to become the third largest freighter lessor
globally by fleet value, owning and/or managing 33 aircraft on
lease to customers worldwide with a book value of over $1.5
billion.
Titan Aircraft Investments Ltd, is a long-term
joint venture Titan Aviation Holdings entered into with Bain
Capital Credit, LP to develop a diversified freighter aircraft Dry
Leasing portfolio that aims to capitalize on demand for cargo
aircraft, underpinned by robust e-commerce and express market
growth. Under the joint venture, Bain Capital and Titan have
committed to provide $360.0 million and $40.0 million of equity
capital, respectively, which may be supplemented with additional
commitments over time, to acquire aircraft over the next several
years with an anticipated portfolio value of approximately $1.0
billion. Titan Aviation Holdings provides management services to
the joint venture, including aircraft acquisitions,
lease-management, passenger-to-freighter aircraft conversion
oversight, technical expertise and disposal of aircraft.
Atlas Air Worldwide is a leading global provider
of outsourced aircraft and aviation operating services. It is the
parent company of Atlas Air, Inc. and Titan Aviation Holdings,
Inc., and is the majority shareholder of Polar Air Cargo Worldwide,
Inc. Our companies operate the world’s largest fleet of 747
freighter aircraft and provide customers the broadest array of
Boeing 747, 777, 767 and 737 aircraft for domestic, regional and
international cargo and passenger operations.
Atlas Air Worldwide’s press releases, SEC
filings and other information may be accessed through the company’s
home page, www.atlasairworldwide.com.
About Amerijet:
Amerijet International Airlines is a leading
global air-cargo airline based in Miami, Florida. Amerijet operates
its own dedicated freighter fleet of B767 aircraft throughout the
United States, Caribbean, Mexico, Central and South America, and
Europe. The Company recently added several B757 aircraft to its
fleet to provide additional route flexibility and service options
to its customer base. The Company provides its scheduled service
region with approximately 8,250 freighter flights annually. In
addition, Amerijet also offers extensive worldwide long- and
short-term ACMI, CMI and full-service charters to leading shippers
and logistics partners, and it provides regular air cargo services
to the U.S. Department of Defense.
Amerijet’s global network, including its
interline partners and general sales agents, reaches over 400
destinations in Europe, Asia, Africa, and the Middle East with
seamless and transparent transportation solutions for customers
shipping time-sensitive, valuable, hazardous, oversize,
temperature-controlled and other cargo types.
More information about Amerijet can be accessed
at www.amerijet.com.
Contacts: |
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Investors
– InvestorRelations@atlasair.com |
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Media – CorpCommunications@atlasair.com |
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