Amazon (AMZN) Builds Air Cargo Network By Leasing 20 Planes From ATSG (ATSG)

Amazon Fulfillment Services, a subsidiary of Amazon.com, signed an agreement with Air Transport Services Group Wednesday to lease 20 Boeing 767 aircraft, ATSG said. The planes will be used “to operate an air cargo network to serve Amazon customers in the United States,” according to an ATSG statement.

Leases for the 20 Boeing planes will be for a duration of five to seven years while the separate agreement for operation of the aircraft will be for five years.