The joint venture between Bain Capital and Titan Aviation announced at the end of last year is expected to take aim at the e-commerce market and also reflects a changing air cargo market. The joint venture deal will see Bain invest $360 m of equity in the project while Titan will put in $40 m as they attempt to build a portfolio of aircraft worth around $1bn.
Atlas Air Worldwide-owned Titan will also provide aircraft- and lease-management services to the venture.
The deal demonstrates the air cargo market’s faith in e-commerce. What this joint venture aims to exploit is the air express services supporting e-retailing, of which Titan’s parent company Atlas is a significant provider, notably to Amazon, said a report.
Source : Various Agencies