Atlas scores deal with Amazon for 20 freighters, 20% stake

It’s déjà vu all over again! The dust still hasn’t settled from the Amazon/ATSG deal, and now the e-commerce giant has done it again, this time with Atlas Air Worldwide Holdings Inc. Simultaneously with the release of its first-quarter results, Atlas [ticker: AAWW] announced the signing of an agreement with Amazon under which AAWW’s airline subsidiary […]

Double-digit profit growth for UPS

UPS, like its main competitor FedEx, turned in a solid performance in its most recent quarter. UPS reported first-quarter net income up 10.2% y-o-y to $1.13 billion, as total revenue increased 3.2% to $14.42 billion. Operating profit for the quarter was up 9.0% to $1.82 billion. Looking first at revenue: UPS said that “growth was […]

International funding for Cainiao

At least six groups injected an estimated US$1.54 billion into Alibaba’s logistics unit Cainiao during the company’s first round of external funding since it was founded in 2013. In a move led by e-commerce giant Alibaba, Cainiao was founded three years ago with financial support from two strategic partnerships, one led by China Life Insurance […]
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