Amazon exiting cargo partnership with Atlas Air

FreightWaves05-30

Atlas Air operates eight Boeing 737-800 freighters (pictured) for Amazon. Amazon provided the aircraft to Atlas to fly on its behalf but will now look to find another home for them. (Photo: Jim Allen/...

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(Photo: Jim Allen/...</p>\n\n<a href=\"https://finance.yahoo.com/news/amazon-exiting-cargo-partnership-atlas-201849956.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Amazon exiting cargo partnership with Atlas Air</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAmazon exiting cargo partnership with Atlas Air\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-30 04:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/amazon-exiting-cargo-partnership-atlas-201849956.html><strong>FreightWaves</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Atlas Air operates eight Boeing 737-800 freighters (pictured) for Amazon. Amazon provided the aircraft to Atlas to fly on its behalf but will now look to find another home for them. (Photo: Jim Allen/...</p>\n\n<a href=\"https://finance.yahoo.com/news/amazon-exiting-cargo-partnership-atlas-201849956.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0308772762.SGD","symbol_name":"Blackrock Global Allocation A2 SGD-H","start_time":0,"source_url":"https://finance.yahoo.com/news/amazon-exiting-cargo-partnership-atlas-201849956.html","article_id":"2439856356","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/XPzQPzGNcd9awRQyo09NxQ--~B/aD02NzU7dz0xMjAwO2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/freightwaves_373/98ff545382ec2097f2431265fd4b66b1"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2439856356","pubTimestamp":1717013929,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Atlas Air operates eight Boeing 737-800 freighters  for Amazon. Amazon provided the aircraft to Atlas to fly on its behalf but will now look to find another home for them. . Atlas Air will stop flying freighter aircraft for Amazon in the online retailer’s parcel network over the next year, and 25 aircraft controlled by Amazon will gradually be relocated to other operators, according to company pilots who posted about the changes in chat rooms and one who spoke with FreightWaves.The decision to discontinue flight operations appears to have been initiated by Amazon . Where the Amazon-branded planes will end up is unknown, although it is now clear a portion of the fleet will be transferred to rival ABX Air.“If Amazon exercises any of these termination rights, it could have a material adverse effect on our business, results of operations and financial condition,” Atlas Air Worldwide said in annual reports while it was a publicly traded company. Officials have not addressed how profitable t","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H","BK4524":"宅经济概念","BK4220":"综合零售","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","LU0234572021.USD":"高盛美国核心股票组合Acc","CMI":"康明斯","LU0310799852.SGD":"FTIF - Templeton Global Equity Income A MDIS SGD","BA":"波音","BK4527":"明星科技股","LU0109392836.USD":"富兰克林科技股A","BK4579":"人工智能","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","BK4588":"碎股","BK4131":"航空货运与物流","BK4572":"航空租赁","BK4503":"景林资产持仓","LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","AMZN":"亚马逊","BK4561":"索罗斯持仓","AAWW":"阿特拉斯航空全球控股公司","BK4581":"高盛持仓","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","LU0289941410.SGD":"AB FCP I Dynamic Diversified AX SGD","LU0211328371.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (MDIS) (USD)   INC","ATSG":"航空运输服务","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","BK4187":"航天航空与国防","BK4592":"伊斯兰概念","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","LU0238689110.USD":"贝莱德环球动力股票基金","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","BK4532":"文艺复兴科技持仓","IE00BJTD4V19.USD":"NEUBERGER BERMAN US LONG SHORT EQUITY \"A1\" (USD) ACC","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","LU0072462426.USD":"贝莱德全球配置 A2","BK4585":"ETF&股票定投概念","BK4507":"流媒体概念","LU0079474960.USD":"联博美国增长基金A","LU0082616367.USD":"摩根大通美国科技A（dist）","LU0056508442.USD":"贝莱德世界科技基金A2","LU0080751232.USD":"富达环球多元动力基金A","LU0061474960.USD":"天利环球焦点基金AU Acc"},"translate_title":"亚马逊退出与阿特拉斯航空的货运合作伙伴关系","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AMZN":1,"ATSG":1,"AAWW":1,"CMI":1,"BA":0.9},"content_text":"Atlas Air operates eight Boeing 737-800 freighters (pictured) for Amazon. Amazon provided the aircraft to Atlas to fly on its behalf but will now look to find another home for them. (Photo: Jim Allen/FreightWaves) \n \n\nAtlas Air will stop flying freighter aircraft for Amazon in the online retailer’s parcel network over the next year, and 25 aircraft controlled by Amazon will gradually be relocated to other operators, according to company pilots who posted about the changes in chat rooms and one who spoke with FreightWaves.\nThe decision to discontinue flight operations appears to have been initiated by Amazon (NASDAQ: AMZN). Where the Amazon-branded planes will end up is unknown, although it is now clear a portion of the fleet will be transferred to rival ABX Air. \nAtlas Air will give up 17 Boeing 767-300 converted freighters and its entire fleet of Boeing 737-800 cargo jets, according to several pilots relaying news presented by CEO Michael Steen during a company town hall on Thursday. Under contracts scheduled to expire in 2026, Atlas provides crews, routine maintenance and insurance (CMI). Amazon is responsible for providing the aircraft, fuel and cargo.\nThe agreements give Amazon the option to terminate the contracts with 180 days of written notice, according to documents filed with the U.S. Securities Exchange Commission before Atlas was taken private in early 2023 by a consortium of investors led by Apollo Global Management. One of the circumstances allowing for early termination is a change of corporate control. The contract raises the possibility of Amazon paying a termination fee to Atlas Air, but whether that happens could not be determined.\n“If Amazon exercises any of these termination rights, it could have a material adverse effect on our business, results of operations and financial condition,” Atlas Air Worldwide said in annual reports while it was a publicly traded company. Officials have not addressed how profitable the Amazon business has been in recent years, especially with a slowdown in domestic e-commerce volumes since the pandemic.\nThe 17 Boeing 767s operated by Atlas Air are owned by Atlas Air Worldwide’s leasing subsidiary, Titan Aviation, and leased to Amazon. The e-tailer, which separately hired Atlas to fly the aircraft, can now sign a CMI contract with another operator and have the aircraft transferred to its new partner. Amazon directly controls the eight 737-800s, which are leased from the Bank of Utah and are also expected to be placed with another cargo airline.\nAt least 10 of the 767s are expected to be placed on the operating certificate of ABX Air, one of two cargo airlines owned by Air Transport Services Group (NASDAQ: ATSG). In early May, ATSG announced that Amazon will provide 10 additional 767-300 freighters to operate on its behalf under a five-year contract and that ABX will begin flying in June. ATSG did not say where Amazon would obtain the aircraft.\nAmazon has the right to place up to 10 more aircraft with ABX, which currently operates four B767-200s for Amazon. Sister airline Air Transport International operates more than 40 767s on Amazon’s behalf.\nAmazon owns nearly 20% of ATSG. It previously owned a stake in Atlas Air, but its shares were bought out by the new ownership group.\nAmazon’s other providers of outsourced air cargo service in the United States are Sun Country Airlines, which operates 737-800s, and Hawaiian Airlines, with two Airbus A330-300 converted freighters.  \nAtlas Air declined to comment, citing a required quiet period on public statements ahead of financial reporting to bondholders on Thursday. Media representatives for Amazon did not respond to multiple requests for information about the company’s plans for its private airline.\nMoving forward without Amazon\nSteen, the Atlas CEO, said the company doesn’t plan on furloughing any pilots who choose to stay, according to several pilot accounts of the town hall. Although Atlas Air is adding eight widebody freighters to the fleet this year, there could be a surplus of pilots until the airline picks up new business, which could mean less pay as pilots share available flight hours. Junior officers would be most affected by any reductions.\nThe 767 pilots displaced by the loss of Amazon business could opt to fly Boeing 777s or 747s but would need additional training to be certified for a different aircraft type.\nAtlas Air is scheduled to receive two 777 production freighters from Boeing in the second half of the year. Trade publication Cargo Facts reported earlier this month that Atlas Air had purchased a pair of factory-built 747-400s that China Airlines retired from service in 2023.\nNippon Cargo Airlines last week renewed an agreement with Atlas to operate five of NCA’s 747-400 freighters between Asia and North America amid growing demand. Ocean shipping giant CMA CGM recently announced that it has struck a CMI agreement with Atlas Air to operate two Boeing 777 freighters on the trans-Pacific route, starting later this year. And YunExpress, a freight forwarder in China, in March signed a long-term charter agreement with Atlas for use of a second Boeing 777-200 freighter. \nClick here for more FreightWaves stories by Eric Kulisch.\nSign up for the weekly American Shipper Air newsletter here. \nRECOMMENDED READING:\nAmazon hires ATSG to fly 10 Boeing 767 freighters\nYunExpress charters Atlas Air freighters for US e-commerce service\nThe post Amazon exiting cargo partnership with Atlas Air appeared first on FreightWaves.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2439856356"}