Titan Aviation, Ethiopian Airlines Ink Boeing 767 Freighter Deal

DALLAS - Titan Aircraft Investments, the joint venture between Titan Aviation Holdings, Inc. and Bain Capital Credit, today announced the placement of three 767-300ER converted freighters on long-term dry leases with Ethiopian Airlines Group (ET).

The first of these planes is anticipated to be delivered to ET later this month, the second is anticipated to follow later in the year, and the third plane is anticipated to arrive in 2023.

With the arrival of these three aircraft, Titan Aircraft Investments' fleet of freighters now numbers 10, five of which are freighters that were previously Boeing 767s.

Titan Aviation Holdings, a subsidiary of Atlas Air Worldwide, is a freighter-centric leasing company that provides dry leasing solutions to airlines worldwide.

Comments from Titan Aviation, Ethiopian Airlines

“We are delighted to welcome Ethiopian Airlines as a strategic customer and support its growing freighter fleet,” said Michael Steen, President and Chief Executive Officer of Titan Aviation Holdings and Chief Commercial Officer of Atlas Air Worldwide.

“We are honored that Ethiopian Airlines recognizes our industry and technical expertise and has placed its trust in Titan.”

Ethiopian Airlines Group CEO Mesfin Tasew said, “This dry lease agreement will be fundamental to our fast-growing cargo operation as Ethiopian is a key global player in the air cargo business. We are glad about the partnership with Titan Aircraft Investments to enhance our capacity with three more B767 converted aircraft in addition to the existing nine widebody freighters and four B737 converted aircraft.”

Featured image: Rolf Wallner (GFDL 1.2 or GFDL 1.2), via Wikimedia Commons