Titan Aircraft Investments Acquires Two Boeing 777 Freighters on Lease to Ethiopian Airlines

Strategic Acquisition Expands Titan’s Fleet to Support Growing Airfreight Demand

DUBLIN, January 30, 2025 – Titan Aircraft Investments, the joint venture between Titan Aviation Holdings, Inc. [“Titan”] and Bain Capital, today announced the acquisition of two Boeing 777 Freighters on lease to Ethiopian Airlines, a leading carrier in Africa, to support its network. The aircraft, identified by MSN 42033 and 42034, were purchased from Carlyle Aviation Partners, the commercial aviation investment and servicing arm of Carlyle’s Global Credit platform. Titan, a subsidiary of Atlas Air Worldwide Holdings, Inc., a leading global provider of outsourced aviation logistics, will manage the freighter assets.

The two 777 Freighters, which are currently operated by Ethiopian Airlines, will bolster Titan’s fleet of modern widebody aircraft, supporting the growing global demand for long-range airfreight capacity. This acquisition underscores Titan’s commitment to supporting its customers in the air cargo and e-commerce sectors by providing dedicated and fuel-efficient aircraft for their operational needs.

“We are excited to add these two Boeing 777 Freighters to Titan’s fleet through this acquisition, which aligns with our ongoing strategy to expand our freighter portfolio and meet the increasing demand for airfreight services,” said Eamonn Forbes, Senior Vice President and Chief Commercial Officer of Titan Asset Management Ireland Limited. “The 777 offers superior payload capacity and fuel efficiency, which will support the evolving needs of customers, particularly across international borders and high-demand cargo routes. We are also proud to expand our strong partnership with Ethiopian Airlines by providing them with the latest generation of freighter aircraft.”

Forbes added, “We greatly appreciate Carlyle Aviation Partners for their exceptional work on this transaction. Their professionalism, expertise, and collaborative approach were pivotal in ensuring a smooth and successful acquisition process.”

Titan and Bain Capital formed Titan Aircraft Investments, a long-term joint venture in 2019 to build a diversified freighter aircraft leasing portfolio with an anticipated value exceeding $1 billion. The long-term partnership capitalizes on demand for cargo aircraft, underpinned by robust e-commerce and express market growth.

Under the joint venture, in which Atlas holds a 10% ownership stake, Titan provides aircraft- and lease-management services.