Amazon investing up to 30% in cargo airline Atlas Air as it tries to rely less on UPS, FedEx - National Post
Amazon.com Inc. could take as much as a 30 per cent stake in a large cargo airline, its second such deal this year as the e-commerce giant steps up efforts to take control of its own delivery logistics.
As part of the agreement, Atlas Air Worldwide Holdings will operate 20 Boeing 767-300 cargo planes for Amazon, according to a statement from the airline Thursday.
The Seattle-based retailer is moving quickly to build up its delivery network, seeking to wean itself from dependence on United Parcel Service Inc. and FedEx Corp. as it expands its Prime service, which promises orders in as fast as one day for some orders. In March, Amazon said it would lease 20 Boeing 767 freighters from Air Transport Services Group Inc.
Amazon.com Inc. could take as much as a 30 per cent stake in a large cargo airline, its second such deal this year as the e-commerce giant steps up efforts to take control of its own delivery logistics.
As part of the agreement, Atlas Air Worldwide Holdings will operate 20 Boeing 767-300 cargo planes for Amazon, according to a statement from the airline Thursday.
The Seattle-based retailer is moving quickly to build up its delivery network, seeking to wean itself from dependence on United Parcel Service Inc. and FedEx Corp. as it expands its Prime service, which promises orders in as fast as one day for some orders. In March, Amazon said it would lease 20 Boeing 767 freighters from Air Transport Services Group Inc.
