Titan Aviation Investments and Amerijet International

PURCHASE, NY, April 06, 2022 (GLOBE NEWSWIRE) — Titan Aircraft Investments, the joint venture between Titan Aviation Holdings, Inc. and Bain Capital Credit, today announced the placement of three Boeing 757-200SFs converted into dry freighters at long-term leases with Amerijet International Inc. to support its network in Central America and the Caribbean. Titan Aviation Holdings, a subsidiary of Atlas Air Worldwide Holdings Inc. (NASDAQ: AAWW), will manage these assets.

“We are delighted to welcome Amerijet as a strategic customer and to support its long-term expansion plans. This partnership underscores the trust our customers place in Titan’s cargo expertise,” said Michael Steen, President and CEO of Titan Aviation Holdings and Chief Commercial Officer of Atlas Air Worldwide.

“I am incredibly proud of our employees who have worked tirelessly to bring the B757 project to fruition. These aircraft will be a wonderful addition to our fleet, giving us a platform for continued growth as we approach 50 years of continuous service from our base in Miami, Florida,” said Tim Strauss, President and CEO of ‘Amerijet.

Titan Aviation Holdings and Bain Capital Credit formed a long-term joint venture in 2019 to develop a diversified cargo aircraft leasing portfolio with an expected value of approximately $1 billion. The long-term joint venture capitalizes on demand for cargo aircraft, supported by robust growth in e-commerce and the express market.

Under the joint venture, Titan provides aircraft management and leasing services.

About Titan Aviation Holdings and Atlas Air Worldwide:

Titan Aviation Holdings is a cargo-focused leasing company that provides hullless leasing solutions to airlines worldwide. Titan’s fleet of cargo aircraft supports customers including international carriers, express carriers, e-commerce vendors, and regional and national carriers. Titan’s deep air cargo expertise and innovative asset management solutions help customers rapidly accelerate their aviation operations while minimizing capital investments. Since its inception in 2009, Titan has become the world’s third largest cargo lessor by fleet value, owning and/or managing 33 aircraft leased to customers worldwide with a book value of over $1.5 billion. dollars.

Titan Aircraft Investments Ltd, is a long-term joint venture that Titan Aviation Holdings has entered into with Bain Capital Credit, LP to develop a diversified Dry Leasing cargo aircraft portfolio that aims to capitalize on demand for cargo aircraft, underpinned by an e -robust trade and express market growth. Under the joint venture, Bain Capital and Titan have committed to provide $360.0 million and $40.0 million of equity, respectively, which may be supplemented by additional commitments over time, to acquire aircraft over the next few years with an expected portfolio value of approximately $1.0. billion. Titan Aviation Holdings provides management services to the joint venture, including aircraft acquisition, lease management, oversight of conversion of passenger aircraft to cargo aircraft, technical expertise and aircraft disposal.

Atlas Air Worldwide is one of the world’s leading providers of outsourced aircraft operations and aviation services. It is the parent company of Atlas Air, Inc. and Titan Aviation Holdings, Inc., and is the majority shareholder of Polar Air Cargo Worldwide, Inc. Our companies operate the world’s largest fleet of 747 aircraft freighter and offer their customers the widest range of Boeing 747, 777, 767 and 737 for domestic, regional and international cargo and passenger operations.

Atlas Air Worldwide press releases, SEC filings, and other information can be accessed through the company’s homepage, www.atlasairworldwide.com.

About Amerijet:

Amerijet International Airlines is one of the world’s leading air cargo airlines based in Miami, Florida. Amerijet operates its own dedicated freighter fleet of B767 aircraft across the United States, the Caribbean, Mexico, Central and South America, and Europe. The company recently added several B757 aircraft to its fleet to provide additional route flexibility and service options to its customers. The Company provides its scheduled service region with approximately 8,250 cargo flights per year. In addition, Amerijet also offers extensive ACMI, CMI, and full-service worldwide long- and short-term charters to major shippers and logistics partners, and provides scheduled air cargo services to the U.S. Department of Defense.

Amerijet’s global network, including interline partners and general sales agents, serves more than 400 destinations in Europe, Asia, Africa and the Middle East with seamless transportation solutions for customers shipping cargo. urgent, precious, dangerous, oversized and temperature controlled. and other types of freight.

More information about Amerijet can be found at www.amerijet.com.