Ten Airbus A330-300 converted freighters leased to Amazon Air and operated by Alaska Airlines have transferred to the portfolio of Dublin-based IAT Leasing. The transaction, announced on March 16, 2026, involved IAT purchasing the aircraft from funds managed by Altavair on behalf of funds managed by Blue Owl Capital, with financing from MUFG.
IAT Leasing will handle ongoing lease administration and asset management for the fleet. The aircraft, converted by Elbe Flugzeugwerke (EFW), are powered by Rolls-Royce Trent 700 engines. This deal marks IAT’s entry into dedicated widebody freighters, following its January 2026 agreement with Blue Owl to join the Rolls-Royce LessorCare+ maintenance program.
“This is a transformative transaction for IAT. Acquiring ten A330 converted freighters on lease to Amazon Air takes us into a new asset class and immediately positions IAT as a major lessor of freighter aircraft globally,” said Martin Browne, CEO of IAT Leasing. Daniel Rosato, Managing Director within Alternative Credit at Blue Owl, noted: “Building off our successful track record with passenger A330, this acquisition represents an attractive expansion into a freighter variant that we expect to power the cargo market for decades to come.”
The move establishes a new relationship between IAT and Amazon Air while deepening ties with Alaska Airlines. Alaska Air Group, which acquired the aircraft via Hawaiian Airlines, operates them under a fixed-fee contract that has prompted discussions on operational efficiency amid its expanding network.