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Atlas Air Completes Air Atlanta Stake Purchase, Expands International Cargo Footprint

Atlas Air Worldwide Holdings has finalized its acquisition of a 49% stake in Iceland-based Air Atlanta. Through subsidiary Titan Aviation, it secured 14 widebody freighter aircraft that will remain under Air Atlanta's operation via leaseback arrangements. Air Atlanta's management team, led by CEO and vice presidents, retained a 51% controlling stake in the operating entities Air Atlanta Icelandic and Air Atlanta Europe. The carrier will maintain its existing leadership structure and operations while collaborating with Atlas on commercial initiatives across global markets. Executive Chairman Hannes Hilmarsson is stepping down after two decades with the company. Air Atlanta operates 18 widebody aircraft between Icelandic and Malta certifications, including 12 Boeing 747-400 cargo jets, two 777-300 freighter conversions, and four 777 passenger aircraft. The company also owns four Boeing 747-400 cargo jets leased to Saudia Cargo. The deal enhances Atlas' cargo capacity and international reach across key markets.