Titan Aircraft Investments, the joint venture between Titan Aviation Holdings, Inc. and Bain Capital Credit, announced the placement of a Boeing 737-800SF converted freighter on long-term dry lease with ASL Aviation Holdings.

Titan Aviation Holdings, a subsidiary of Atlas Air Worldwide Holdings, Inc., will manage the aircraft.

"We are honored that ASL has placed its trust in Titan and we look forward to growing our new partnership in the future," said Michael Steen, president and chief executive officer of Titan Aviation Holdings and chief commercial officer of Atlas Air Worldwide.

Fergus Wilson, ASL Aviation Holding's Group Fleet and Leasing Director, for his part, noted that the agreement is part of its fleet renewal program.

"We are looking forward to this B737-800SF entering service with ASL in the coming weeks and to a successful business relationship with Titan," Wilson said.

"The aircraft's arrival will mark another step forward in ASL's fleet renewal program which has already seen our 737-800NG fleet outgrow our 737 classic fleet," the ASL Aviation executive added.