Atlas Air Worldwide Holdings acquired two Boeing 777 Freighters from LATAM Airlines.

Both 777 aircraft will operate in ACMI (aircraft, crew, maintenance and insurance) service for DHL Express through Atlas’ Southern Air subsidiary, with the first starting service this month and the second expected to begin service at the end of Q2/18.

The first of the two aircraft was previously operated on a CMI (crew, maintenance and insurance) basis for DHL Express by Southern Air. The second aircraft will increase the number of 777 freighters owned or operated by the company to 12.

“These 777 freighters enhance our position in this attractive aircraft type and are consistent with our strategy of growing the operations that we acquired as part of Southern Air,” said Atlas Air Worldwide President and CEO William J. Flynn.

Atlas is currently engaged in discussions with a bank syndicate to finance the two 2012-vintage aircraft and expects to close the financing transaction during Q2/18.

The expected financial and operating impacts of the two 777 freighters in 2018 were incorporated in the company’s earnings growth framework announced at the end of February.

Atlas Air Worldwide is a global provider of outsourced aircraft and aviation operating services.