Atlas Air Worldwide Acquires 49 percent stake in Iceland Based Air Atlanta
- Joe Breitfeller
- 2 minutes ago
- 2 min read
Atlas Air Worldwide has today announced that they have taken a 49 percent strategic stake in Icelandic ACMI and aircraft management company, Air Atlanta, which has operating platforms in Iceland and Malta.
On Thursday (May 28, 2026), Atlas Air Worldwide announced that they have signed a Share Purchase Agreement to acquire a 49 percent minority equity stake in Air Atlanta, a leading global provider of ACMI and aircraft management services. Air Atlanta is headquartered in Iceland and has operations in both Iceland and Malta. This transaction establishes a strategic partnership that expands Atlas’ global operating platform and enhances access to widebody capacity in key international markets. Additionally, Atlas, through their Titan Aviation Holdings subsidiary, is separately acquiring the aircraft owned by the Air Atlanta group of companies and will lease the aircraft back to the Air Atlanta airline companies for continued operation. This includes a fleet of 14 widebody freighters, including Boeing 747 and 777 aircraft, as well as four Boeing 777 passenger aircraft.
In Thursday’s announcement, Atlas Air Worldwide’s CEO, Michael Steen, said,
“This transaction reflects Atlas’ disciplined approach to strategic growth in a structurally constrained widebody freighter aircraft market, and it further advances our One Atlas strategy. By combining Atlas’ global commercial platform with Air Atlanta’s complementary operating model and European-based footprint, we are expanding access to capacity and further strengthening our ability to serve customers worldwide and deliver value to our stakeholders. Air Atlanta has built a strong reputation over decades of operations, and we are excited to partner with their excellent team. Together, we believe this partnership will strengthen both organizations and position us for continued success in the evolving global aviation market.”
Also commenting on the transaction, Air Atlanta’s CEO, Baldvin M. Hermannson, said,
“We are pleased to partner with Atlas in a transaction that strengthens our long-term growth trajectory while accelerating our position as a leading European widebody ACMI operator. We strongly believe in the future growth potential of Air Atlanta, especially with the strategic partnership we are entering into with Atlas today. We will have wider market reach and be better positioned to deliver flexible, high-performing capacity solutions for our existing and future customers.”
Air Atlanta Group’s Executive Chairman, Hannes Hilmarsson, added,
“After many years dedicated to building Air Atlanta, I am proud to see the company enter its next chapter. I leave the business in excellent hands with the existing management team and with Atlas as the perfect partner for the future. Together, they provide a strong platform for continued growth and expansion.”
Air Atlanta will continue operating under their existing leadership team and operating structure, while both companies collaborate commercially to pursue incremental global growth opportunities. Following completion of the transaction, the continuing Air Atlanta management team will retain a 51 percent controlling interest in the airline operating companies. The transaction is expected to close in Q3 2026, subject to regulatory approvals and closing conditions.
Founded in 1986, Air Atlanta Group is a global ACMI and charter operator specializing in widebody aircraft operations. The company provides airlines and cargo operators worldwide with flexible capacity solutions supported by deep operational expertise in widebody aircraft operations.
Source: Atlas Air Worldwide
