For a price of 131 million US dollars, Amazon is buying into the cargo airline Air Transport Services Group. The mail order company will hold 19,5 percent of the shares or 13,5 million shares in the future. ATSG is expected to fly up to 46 aircraft for Amazon this year.
The transaction is still subject to approval by the US Department of Transportation, the airline announced. Amazon's stake could rise to 39,9 percent if all options are exercised. ATSG currently operates 33 freighters on behalf of the mail order company. The number is to be increased to 46 this year. It was only recently announced that Amazon had secured eleven Boeing 767s.
The online retailer has held the option to take over ATSG shares since 2016. Amazon also has purchase rights for Atlas Air and Sun Country Airlines - also operators of cargo planes under the Prime Air brand.