Amazon to lease 20 Boeing aircraft for cargo delivery
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The Boeing logo is seen at their headquarters in Chicago, April 24, 2013.
Reuters/Jim Young
Aircraft lessor Air Transport Services Group Inc said it would lease 20 Boeing 767 freighter planes to Amazon.com Inc as the online retailer looks to operate its own air cargo network.
As part of the deal, Amazon also has the right to buy up to 19.9 percent of ATSG’s stock over five years at $9.73 per share.
(Reporting by Sai Sachin R in Bengaluru; Editing by Anil D’Silva)