Ethiopian Airlines (ET, Addis Ababa International) continues to grow its dedicated freighter fleet after closing a deal with Titan Aviation Holdings to lease three B767-300ER(BCF)s. The first of the three planes is due to arrive later this month, the second later this year, and the third in 2023. The incoming aircraft will take Ethiopian's dedicated freighter fleet to 15 aircraft.

“This dry lease agreement will be fundamental to our fast-growing cargo operation as Ethiopian is a key global player in the air cargo business," said Ethiopian Airlines Group CEO Mesfin Tasew.

Titan Aviation Holdings is a subsidiary of New York-based Atlas Air Worldwide Holdings which owns Atlas Air and Polar Air Cargo in addition to Titan Holdings, a joint venture with Bain Capital Credit, a division of Bain Capital. Bain's ongoing airline investments include stakes in Icelandair, Virgin Australia, as well as Arajet.

According to the ch-aviation fleets module, Ethiopian's existing freighter fleet includes one B737-800(BCF), three B737-800(BDSF)s, and nine B777-200Fs. ICBC Financial Leasing owns the BCF while GECAS and GA Telesis lease it two -SFs and one -SF respectively. The carrier owns four of the B777Fs and two are leased from AerCap. BOCOM International, Carlyle Aviation Partners, and BBAM each supply one each.