NEW YORK and KÓPAVOGUR, Iceland, May 28, 2026 (GLOBE NEWSWIRE) -- Atlas Air Worldwide ("Atlas") today announced it has signed a Share Purchase Agreement to acquire a 49% minority equity stake in Air Atlanta, a leading global provider of ACMI and aircraft management services headquartered in Iceland with operating platforms in both Iceland and Malta. This transaction establishes a strategic partnership that expands Atlas' global operating platform and enhances access to widebody capacity in key international markets.
Atlas, through its Titan Aviation Holdings subsidiary, is separately acquiring the aircraft owned by the Air Atlanta group of companies and will lease the aircraft back to the Air Atlanta airline companies for continued operation. Air Atlanta operates a fleet of 14 widebody freighters, including Boeing 747 and 777 aircraft, and also operates four passenger 777 aircraft.
"This transaction reflects Atlas' disciplined approach to strategic growth in a structurally constrained widebody freighter aircraft market, and it further advances our One Atlas strategy," said Michael Steen, Chief Executive Officer, Atlas Air Worldwide. "By combining Atlas' 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 organizations 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 both companies collaborate commercially to pursue incremental global growth opportunities. Following completion of the transaction, the continuing Air Atlanta management team will retain a 51% controlling interest in the airline operating companies.
"We are pleased to partner with Atlas in a transaction that strengthens our long-term growth trajectory while accelerating our position as a leading European widebody ACMI operator," said Baldvin M. Hermannsson, Chief Executive Officer, Air Atlanta. "We strongly believe in the future growth potential of Air Atlanta, especially with the strategic partnership we are entering into with Atlas today. We will have wider market reach and be better positioned to deliver flexible, high-performing capacity solutions for our existing and future customers."
"After many years dedicated to building Air Atlanta, I am proud to see the company enter its next chapter," said Hannes Hilmarsson, Executive Chairman of the Air Atlanta Group, who will step down after 20 years in leadership roles with the Company. "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 closing conditions.
About Atlas Air Worldwide
Atlas Air Worldwide (AAWW) is the world's leader in outsourced aviation logistics. AAWW is the parent company of our principal operating subsidiary, Atlas Air, Inc., and several affiliates related to Titan's dry leasing services, and Polar Air Cargo Worldwide, Inc. With approximately 5,000 employees, the AAWW companies serve a diversified customer roster across the global supply chain in more than 300 destinations in 90+ countries. Together, they operate the world's largest fleet of 747 freighter aircraft and provide customers the broadest array of Boeing 747, 777, 767 and Airbus A350F (coming in 2029) freighters. To learn more, visit www.atlasairworldwide.com. Follow Atlas Air on LinkedIn and @AtlasAirWW on X (Twitter).
About Air Atlanta
Established in 1986, Air Atlanta is a global ACMI and charter operator specializing in widebody aircraft operations. The Company provides airlines and cargo operators worldwide with flexible capacity solutions supported by deep operational expertise in widebody aircraft operations.
Contact: CorpCommunications@atlasair.com
