Titan Aviation Leasing, a joint venture between Titan Aviation Holdings, Inc. (a subsidiary of Atlas Air Worldwide) and Bain Capital, announced the sale of two Boeing 737-800SF aircraft to ST Engineering, a global technology, defence, and engineering corporation headquartered in Singapore. The aircraft are currently on long-term lease to Georgian Airlines and ASL Airlines.
The sale allows Titan to redeploy capital from mature assets towards acquiring new aircraft, while maintaining lease agreements with existing operators to ensure cash flow. The strategy aims to balance immediate returns with long-term growth opportunities.
Ramesh Krishna, Head of Aircraft Leasing at ST Engineering, emphasized their focus on building a portfolio of next-generation green freighter aircraft, with the recently acquired aircraft adding important lessees and supporting fleet flexibility in a competitive cargo market.
Eamonn Forbes, Chief Commercial Officer of Titan Aviation Leasing, highlighted that this transaction reflects their disciplined capital approach and the company's ability to generate value through strategic partnerships. The sale of converted cargo aircraft demonstrates Titan’s versatile asset management model, supporting continued growth in a market with rising demand for modern freight capacity.
Michael Steen, CEO of Atlas Air Worldwide, praised Titan's capability to collaborate with industry leaders and create value throughout the asset lifecycle. Bain Capital Partner Matt Evans expressed satisfaction with the partnership and the prospects for future growth in the freight segment.
