air-cargo

Atlas Air Completes Minority Stake Purchase in Air Atlanta

Atlas Air Worldwide has finalized its acquisition of a 49% minority stake in freighter operator Air Atlanta, with the deal originally announced in May. Atlas subsidiary Titan Aviation Holdings separately acquired aircraft owned by the Air Atlanta group, which will be leased back to Air Atlanta for continued operations. Headquartered in Iceland with operating platforms in both Iceland and Malta, the carrier operates 14 widebody freighters including Boeing 747Fs and 777Fs, plus four passenger 777 aircraft. Air Atlanta provides ACMI services, passenger and cargo charter services, and aircraft management. Atlas CEO Michael Steen said the partnership expands the company's global capacity access across key international markets. Air Atlanta's management team retains a 51% controlling interest and will maintain existing leadership and operating structure. The strategic relationship combines the companies' complementary strengths to pursue international growth opportunities.