Atlas Air to acquire 49% stake in Air Atlanta
Outsourced aircraft and aviation operating services provider, Atlas Air Worldwide, has signed a Share Purchase Agreement to acquire a 49% minority equity stake in Air Atlanta, the Iceland-headquartered ACMI and aircraft management services provider.
The transaction will establish a strategic partnership designed to expand Atlas Air Worldwide’s global operating platform and improve access to widebody capacity in key international markets.
Separately, Atlas Air Worldwide, through its Titan Aviation Holdings subsidiary, is acquiring aircraft owned by the Air Atlanta group of companies. The aircraft will be leased back to Air Atlanta’s airline companies for continued operation.
Air Atlanta operates a fleet of 14 widebody freighters, including Boeing 747 and 777 aircraft, as well as four 777 passenger aircraft. The company has operating platforms in Iceland and Malta.
Michael Steen, chief executive officer of Atlas Air Worldwide, said: “This transaction reflects Atlas Air Worldwide’s disciplined approach to strategic growth in a structurally constrained widebody freighter aircraft market, and it further advances our One Atlas strategy.
“By combining Atlas Air Worldwide’s global commercial platform with Air Atlanta’s complementary operating model and European-based footprint, we are expanding access to capacity and further strengthening our ability to serve customers worldwide and deliver value to our stakeholders.
“Air Atlanta has built a strong reputation over decades of operations, and we are excited to partner with their excellent team. Together, we believe this partnership will strengthen both organisations and position us for continued success in the evolving global aviation market.”
Air Atlanta will continue to operate under its existing leadership team and operating structure, while the two companies collaborate commercially to pursue additional global growth opportunities.
Following completion of the transaction, Air Atlanta’s continuing management team will retain a 51% controlling interest in the airline operating companies.
Baldvin M. Hermannsson, chief executive officer of Air Atlanta, said: “We are pleased to partner with Atlas Air Worldwide in a transaction that strengthens our long-term growth trajectory while accelerating our position as a leading European widebody ACMI operator.
“We strongly believe in the future growth potential of Air Atlanta, especially with the strategic partnership we are entering into with Atlas Air Worldwide today. We will have wider market reach and be better positioned to deliver flexible, high-performing capacity solutions for our existing and future customers.”
Hannes Hilmarsson, executive chairman of the Air Atlanta Group, will step down after 20 years in leadership roles with the company.
“After many years dedicated to building Air Atlanta, I am proud to see the company enter its next chapter,” said Hilmarsson. “I leave the business in excellent hands with the existing management team and with Atlas as the perfect partner for the future. Together, they provide a strong platform for continued growth and expansion.”
The transaction is expected to close in the third quarter of 2026, subject to regulatory approvals and customary closing conditions.
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