Amazon spends $131 million to take minority stake in air cargo contractor ATSG

posted on 10th March 2021 by Eddie Saunders
Amazon spends $131 million to take minority stake in air cargo contractor ATSG

By Annie Palmer, cnbc.com

Amazon has taken a minority stake in Air Transport Services Group, an air freight partner that operates a significant share of the company’s aviation logistics unit.

Amazon exercised warrants in ATSG that will allow it to acquire about 13.5 million shares in the cargo airline at an exercise price of $9.73 per share, or more than $131.9 million, ATSG said in an SEC filing Monday.

As part of a separate agreement, Amazon also purchased approximately 865,000 shares of ATSG, with no cash exchanging hands, the filing states.