Icelandair to add two B767-300ER freighter, maximising opportunities in air cargo market

Titan Aircraft Investments, the joint venture between Titan Aviation Holdings and Bain Capital Credit, has announced the acquisition of two 767-300ER aircraft from Icelandair. The aircraft will be converted into freighters and leased back to the airline. Bogi Nils Bogason, President and Chief Executive, Icelandair Group, said, “With continued positive outlook for cargo operations post Covid, I am confident that the B767-300ER freighters will allow us to maximise new opportunities in our markets. These aircraft carry around 50 per cent more freight than our current two B757-200 freighters and fit very well into our current fleet and network. Our aim is to increase the capacity in our markets, as well as strengthen Iceland as a hub for cargo, in a similar way as our passenger hub that provides attractive connections between continents.”
Michael Steen, President & Chief Executive, TAH, said, “We are delighted to welcome Icelandair as a strategic customer and to support their long-term expansion plans. The 767-300ER is a very attractive medium-sized freighter and we are excited to manage these two aircraft on behalf of the joint venture. We currently own 21 767-300ER freighters, which provide us with extensive experience in this aircraft type.”
With the addition of these two B767s, TAI’s portfolio has grown to three aircraft, which also includes a 777-200 freighter.