Ten Airbus A330-300 converted freighters currently flying within Amazon’s air cargo network are being transferred to Irish aircraft lessor IAT Leasing, marking a significant portfolio acquisition in the global freighter leasing market.
The aircraft are presently operated by Alaska Air Group, which obtained them through its acquisition of Hawaiian Airlines, and they are deployed on behalf of Amazon Air to support the e-commerce giant’s growing cargo operations.
According to IAT Leasing, the aircraft portfolio was acquired from investment funds managed by aviation asset manager Altavair. The transaction was completed on behalf of funds managed by US-based Blue Owl Capital, with financing arranged through Japan’s MUFG banking group.
The deal represents a strategic step for IAT Leasing, introducing dedicated widebody freighter aircraft into the company’s asset portfolio for the first time.
The acquisition also reinforces an earlier partnership between IAT Leasing and Blue Owl Capital, announced in January, under which the companies agreed to participate in the Rolls-Royce LessorCare+ maintenance programme.
All of the aircraft included in the transaction are powered by Rolls-Royce Trent 700 engines, a widely used powerplant across the Airbus A330 family.
For IAT Leasing, the purchase marks an important expansion of its aviation leasing platform.
Chief executive Martin Browne described the acquisition as a transformative moment for the company, stating that entering the freighter market significantly strengthens the scale and diversification of its portfolio while positioning IAT as a global lessor in the cargo aircraft segment.
“This transaction moves us into a new asset class and immediately establishes IAT as a major global player in the freighter leasing market,” Browne said, adding that the deal demonstrates the company’s ability to execute large and complex aviation transactions.
For Blue Owl Capital, the acquisition also represents a strategic extension of its existing aviation investment strategy.
Daniel Rosato, managing director of Blue Owl’s Alternative Credit fund, said the A330 freighter transaction builds naturally on the firm’s previous investments in passenger aircraft, while providing exposure to the expanding cargo aviation sector.
The move comes as demand for freighter aircraft continues to grow globally, driven by the sustained expansion of e-commerce logistics networks and the long-term structural growth of air cargo markets.
