Titan Aviation Holdings – a subsidiary of Atlas Air Worldwide Holdings – and Bain Capital Credit have entered into an agreement to form a joint venture to develop a diversified freighter aircraft leasing portfolio with an anticipated value of approximately US$1 billion. The long-term joint venture aims to capitalize on demand for cargo aircraft, underpinned by robust e-commerce and express market growth.
Under the joint venture, Bain and Titan have committed to provide US$360 million and US$40 million of equity capital, respectively, which may be supplemented with additional commitments over time, to acquire aircraft over the next few years. Titan will also provide aircraft- and lease-management services to the venture.
Since its inception in 2009, Titan has grown to become the third-largest freighter lessor ,globally, by fleet value with over 30 aircraft and book value of over US$1.5 billion.
