Amazon to Lease 10 More Freighters from Air Transport Services
Move aims to help reduce its shipping costs, reliance on carriers such as UPS and FedEx
An Amazon-branded Boeing 767 freighter flies over Lake Washington during the Seattle Seafair Air Show in August 2016.
Amazon.com Inc. AMZN -0.56% on Friday said it would lease another 10 freighter aircraft from Air Transport Services Group Inc., ATSG -1.42% as the online retail giant expands its air cargo operation.
The expanded deal also gives Amazon the ability to buy up to a 39.9% stake in the Wilmington, Ohio, air-cargo transportation company and includes multiyear extensions of the current aircraft leases between the companies.
This is an excerpt from The Wall Street Journal.