The E-commerce giant Amazon Inc is planning to buy the 30% stake in Large Cargo Airline company. The Amazon is working to hold up the Logistics of their products, by taking trying to deliver products themselves. In most of the big cities in the world, the Amazon is delivering products through “Amazon Transportation Services”. Now, the 30% stake in Cargo Airline company will help Amazon to control the speed of deliveries by transporting them internationally through cargo planes.
According to the Statement from Atlas Air Worldwide Holdings, the Amazon is planning to buy 30% stake, and after the deal gets completed, the Atlas Air will operate 20 Boeing 767-300 Cargo airplanes. The Amazon is rapidly expanding their delivery network by channelizing the current delivery service and reducing the dependence on the third party Courier companies.
The Amazon has Prime Now service, in which they provide Free Two Day delivery on standard products and the 2-hour express delivery on daily needs and groceries. As the load on Current Transportation service from Amazon is increasing, the company is trying hard to expand the distribution network. This expected deal is the part of the Delivery Network Expansion by deploying the 20 Cargo aircraft for transporting parcels in time. After the announcement by Atlas Air, their Stock was surged more than 50 percent in day trading session at NYSE.