Amazon to take stake in cargo airline

Amazon could take as much as a 30 percent 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 Inc. will operate 20 Boeing Co. 767-300 cargo planes for Amazon, the airline Thursday.

The 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 delivers some orders in as fast as one day. In March, Amazon said it would lease 20 Boeing 767 freighters from Air Transport Services Group Inc.

Atlas Worldwide will operate the 20 converted freighters for Amazon on leases from seven to 10 years.

Atlas operates the world’s biggest fleet of Boeing 747 freighter aircraft and supplies UPS.

Source: CDRinfo

Tags: Amazon

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