Atlas Air to Acquire 49% Stake in Air Atlanta, Purchase 14 Freighters

Atlas Air said May 28 it will acquire a 49% stake in Iceland-based cargo carrier Air Atlanta and purchase its fleet of 14 owned widebody aircraft to expand capacity amid tight supply of large freighters. The transaction, expected to close in the third quarter of 2026, will see Air Atlanta’s CEO and vice presidents take a 51% controlling interest in its operating companies, while Atlas Air buys the aircraft through its Titan Aviation Leasing unit and leases them back to Air Atlanta. Air Atlanta, which operates 18 widebody aircraft including 12 Boeing 747-400 freighters, will continue under its existing leadership. The partnership allows Atlas to offer additional freight service as many older freighters near retirement and manufacturers struggle to boost production. The deal follows Atlas’ order of 20 Airbus A350 freighters in March, marking a departure from its long reliance on Boeing jets.