Atlas Air Worldwide has officially completed the acquisition of a 49% minority stake in Air Atlanta. As part of the transaction, Atlas Air subsidiary Titan Aviation Holdings acquired the aircraft owned by the Air Atlanta group of companies. According to a statement released by the U.S. company, the aircraft will continue to be operated by the European firm under a long-term lease agreement.
Atlas Air Worldwide currently stands as the world’s largest operator of Boeing 747 aircraft, with 62 units actively in service. Iceland-based Air Atlanta, which maintains operational bases in Iceland and Malta, operates a fleet of 14 widebody aircraft. This fleet includes nine Boeing 747-F freighters, one Boeing 777F, and four passenger-configured Boeing 777s.
Across the global Boeing 747 operator landscape, UPS ranks second with 43 aircraft, followed by Cargolux and Kalitta Air with 26 aircraft each. Lufthansa remains the largest operator of the passenger variant, also holding 26 aircraft in its fleet.
Commenting on the transaction, Michael Steen, CEO of Atlas Air Worldwide, stated that they are pleased to finalize the strategic investment in Air Atlanta, noting that the partnership supports the long-term strategic growth and service capabilities of both organizations. Baldvin M. Hermannsson, CEO of Air Atlanta, emphasized that the collaboration marks a new chapter for the airline, positioning both entities to leverage complementary operational strengths and deliver enhanced value to their customer base.
Financial advisors for Atlas Air Worldwide during the transaction included Barclays and Morgan Stanley, with legal advisory services provided by Norton Rose Fulbright. Atlas Air Worldwide employs approximately 5,000 personnel and serves over 300 destinations across 90 countries, operating Boeing 747, 777, and 767 freighters, with plans to introduce the Airbus A350F to its fleet in 2029.
