What is happening: KKR are purchasing six widebody freighters for $1 billion in order to start up a joint-venture aircraft leasing business with Altavair.
Altavair: KKR will be taking a 50% stake in the Seattle-based Altavair.
Future: They may also buy additional assets, as well as the six freighters. There have even been talks of new planes.
Boom: KKR are jumping in on the venture now, as the airfreight demand boom appears to be ending. World ACD claim that global air cargo volume dropped 1.4% between November 2017 and 2018.
E-commerce: This news comes as e-commerce companies, like Amazon, are expanding their airfreight usage.