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.