Amazon.com Buys Into Another Cargo Plane Company
Just beginning to flex its muscles in the logistics and transportation industry in the U.S., Amazon.com (NASDAQ: AMZN) is now making a big move up north by acquiring a minority stake in Canadian freight cargo carrier Cargojet (OTC: CGJTF).
Amazon already uses Cargojet's aircraft services for mid-mile delivery from Amazon warehouses to distribution centers, but the deal that sees the e-commerce giant take a 9.9% stake in the carrier has been structured to encourage it to use Cargojet's network even more, giving Amazon the ability to claim new ground in a different market.
Image source: Amazon.com.
Source Fool.com
