Ethiopian Airlines Group has signed a long-term dry lease agreement with Titan Aircraft Investments, the joint venture between Titan Aviation Holdings and Bain Capital Credit, for three Boeing 767-300ER converted freighters. "We are honoured that Ethiopian Airlines recognises our industry and technical expertise and has placed its trust in Titan." The addition of these three aircraft brings Titan Aircraft Investments' freighter fleet to 10 aircraft, five of which are Boeing 767 converted freighters, the release added. We are glad about the partnership with Titan Aircraft Investments to enhance our capacity with three more B767 converted aircraft in addition to the existing nine widebody freighters and four B737 converted aircraft." Bain Capital and Titan have committed to provide $360 million and $40 million equity, respectively, for Titan Aircraft Investments to acquire aircraft with an anticipated portfolio value of approximately $1 billion.

Source: Ethiopian News September 13, 2022 03:51 UTC