AIR Transport Services Group (ATSG) owns 40 of the 50 Boeing 767 cargo jets it will operate for amazon for the next five years, reports New York's FreightWaves.
Amazon is providing 10 additional freighter aircraft to ATSG to operate on its behalf over five years as part of a deal that deepens relations between the companies.
It also indicates how the retailer is gaining in the US parcel market. ATSG announced late Monday that it will begin flying the Boeing 767-300 cargo jets for Amazon's logistics network this summer, with the potential to add another 10 aircraft, under a five-year contract. ATSG did not say where Amazon is obtaining the aircraft.
The agreement also extends the existing flying contract, which runs until March 2026, for three more years and includes the award to Amazon of an additional 2.9 million warrants to purchase ATSG shares.
By the end of the year, ATSG said it expects to operate 50 of the medium widebody freighters on Amazon's behalf.
Amazon already owns 19.5 per cent of the Wilmington, an Ohio-based aircraft leasing and aviation services company after exercising warrants in 2021.
ATSG has been one of Amazon's primary air transportation providers ever since the e-commerce giant launched its in-house cargo airline in 2016.
SeaNews Turkey
Amazon is providing 10 additional freighter aircraft to ATSG to operate on its behalf over five years as part of a deal that deepens relations between the companies.
It also indicates how the retailer is gaining in the US parcel market. ATSG announced late Monday that it will begin flying the Boeing 767-300 cargo jets for Amazon's logistics network this summer, with the potential to add another 10 aircraft, under a five-year contract. ATSG did not say where Amazon is obtaining the aircraft.
The agreement also extends the existing flying contract, which runs until March 2026, for three more years and includes the award to Amazon of an additional 2.9 million warrants to purchase ATSG shares.
By the end of the year, ATSG said it expects to operate 50 of the medium widebody freighters on Amazon's behalf.
Amazon already owns 19.5 per cent of the Wilmington, an Ohio-based aircraft leasing and aviation services company after exercising warrants in 2021.
ATSG has been one of Amazon's primary air transportation providers ever since the e-commerce giant launched its in-house cargo airline in 2016.
SeaNews Turkey
