Amazon’s Stake in ATSG Might Aim at More Than It Seems
A regulatory filing on Friday revealed that Amazon, the e-commerce company has bought about ten percent stake in Air Transport Services Group, an airplane leasing company. Its plans seem to be more than just leasing cargo planes for handling its own shipping.
Amazon said last week that it would lease twenty Boeing 767 planes from ATSG for delivering added customers' orders. With a larger stake in the leasing company, Amazon will also have a greater influence on ATSG's operations and is likely to gain more knowhow of the air shipping business.
With the move, Amazon is also reducing its dependence on the traditional shippers such as UPS and FedEx. According to several analysts, what Amazon might be aiming at, may be growing its own global shipping service. However, Amazon says, it has no such goals.
Air freight might not be the only direction at which Amazon is moving because in January this year, the company's China subsidiary got a license for ocean-shipping from the U. S. Federal Maritime Commission which allows it to operate as an ocean freight forwarder.
CFO Brian Olsavsky has said earlier that Amazon applied for the shipping license to add "more logistics to supplement existing shipping options and it's not meant to replace them."
New Zealand News
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