Amazon Leasing More Cargo Planes

Air Transport Services Group, a provider of medium wide-body aircraft leasing, air transportation and related services, has agreed to lease 12 additional Boeing 767-300 converted freighter aircraft to Services.

The company delivered one of the 12 aircraft on May 29, and will deliver the remaining 11 in 2021. The Amazon leases are for 10 years, with options for Amazon to extend the leases for three additional years.

Cargo Aircraft Management, an ATSG aircraft leasing subsidiary, currently leases 27 767 aircraft to Amazon, including six leased during 2019. In December 2018, Amazon committed to lease those six plus an additional four 767s from CAM to be turned over by the end of 2020. The projected number of 767s CAM leases to Amazon will increase to 31 by the end of 2020 and to 42 by the end of 2021.

Rich Corrado, president and CEO of ATSG, said, “This new commitment is further evidence of Amazon’s confidence in our ability to support its expanding U.S. air network. We look forward to supporting Amazon with additional aircraft capacity and to generating additional revenues and cash flows for our shareholders from our unique asset and service offerings, for many years to come.”