In a move to boost its next-day shipping business, Amazon.com Inc. has hired budget-carrier Sun Country Airlines to fly 10 cargo jets, The Wall Street Journal reported late Tuesday. The Minneapolis-based company will add to the e-commerce giant's already existing U.S. cargo partners such as Air Transport Services Group Inc. and Atlas Air Worldwide Holdings Inc. . As part of the deal, Amazon will receive warrants to acquire a minority stake in the airline, the Journal reported. Apollo Global Management Inc. acquired Sun Country two years ago. Amazon stock fell less than 0.1% in the after-hours session and closed up 1.2% Tuesday during regular trading. The S&P 500 index closed up less than 0.1%. Read More...
In a move to boost its next-day shipping business, Amazon.com Inc. has hired budget-carrier Sun Country Airlines to fly 10 cargo jets, The Wall Street Journal reported late Tuesday. The Minneapolis-based company will add to the e-commerce giant’s already existing U.S. cargo partners such as Air Transport Services Group Inc. and Atlas Air Worldwide Holdings Inc. . As part of the deal, Amazon will receive warrants to acquire a minority stake in the airline, the Journal reported. Apollo Global Management Inc. acquired Sun Country two years ago. Amazon stock fell less than 0.1% in the after-hours session and closed up 1.2% Tuesday during regular trading. The S&P 500 index closed up less than 0.1%.
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