Amerijet Signs Long Term Dry Lease Agreements With Titan Aviation for Three Boeing 757 Freighters
Titan Aircraft Investments has placed three Boeing 757-200SF converted freighters on long-term dry leases with Amerijet International. The aircraft will support Amerijet’s Central American and Caribbean network.
On Wednesday (April 6, 2022), Atlas Air Worldwide announced that Titan Air Investments, a joint venture between Atlas subsidiary Titan Aviation Holdings and Bain Capital Credit, has placed three Boeing 757-200SF converted freighters with Amerijet International. The aircraft have been placed on long-term dry leases and will be deployed to support Amerijet’s network in Central America and the Caribbean. The assets will be managed by Titan Aviation Holdings. The joint venture (JV) between Titan and Bain was established in 2019 to develop a diversified freighter aircraft leasing portfolio with an anticipated value of around $1.0 billion, and under the JV Titan provides aircraft and lease management services.
In today’s announcment, Titan Aviation Holdings CEO and Atlas Air’s Chief Commercial Officer, Michael Steen, said,
“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.
Titan Aviation Holdings, a subsidiary of Atlas Air Worldwide (NASDAQ: AAWW) is a freighter-centric leasing company that provides dry leasing solutions to airlines worldwide. Titan is the third largest global lessor of air freighters by fleet value, and currently owns and/or manages 33 aircraft on lease to customers worldwide with a book value of over $1.5 billion.
Also commenting on the new lease agreements, Amerijet’s Chief Executive Officer, Tim Strauss, said,
“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.”
Miami-based Amerijet International is a leading global air cargo airline. The carrier operates their own dedicated fleet of Boeing 767 Freighters throughout the U.S, the Caribbean, Mexico, Central America, South America and Europe. Recently, Amerijet added several Boeing 757 Freighters to their fleet to provide increased route flexibility and service options for customers. The airline operates around 8,250 scheduled freighter flights annually and also offers extensive long and short-term ACMI, CMI and full service charters to customers including leading shippers, logistics partners and the U.S. Department of Defense.
Source: Atlas Air Worldwide