Why is Amazon leasing 20 airplanes?
In its quest for global retail dominance, Amazon is taking to the skies.
Amazon is set to lease 20 Boeing 767 aircraft to boost its effort to improve deliveries.
That’s according to a Reuters report, which cites lessor Air Transport Services Group (ATSG) as outing the deal.
It’s said that Amazon wants the planes to help make deliveries quicker and cheaper.
Reuters says Amazon is “trying to make shipments even faster, as well as assume more control over its business and costs”.
The leases are expected to last between five and seven years. However, the deal also gives Amazon the right to buy 19.9% of ATSG’s stock over the next five years at a discounted price.
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It’s not the first time Amazon has shown interest in transporting goods in the air.
Amazon has long been public about its efforts on the Prime Air delivery drone program.
Unfortunately, there’s still no definitive time frame for when the Prime Air drones will be available for customer use.
Are you surprised by Amazon’s airplane lease? Let us know in the comments.