Trade giant deepens ties in supply chain
Amazon has secure a deal to buy a stake in the Canadian cargo airliner CargoJet, thereby deepening its supply chain links and offering a glimpse of its broader strategy.
Cargojet will now issue warrants to Amazon to purchase variable voting shares, according to reports.
Adam Baker, VP of Global Transportation at Amazon, said: “Cargojet has been a key player in our Canadian middle mile operations for several years.
“We’re thrilled to build a longer-term relationship that will allow us to provide even faster service to Amazon customers in Canada.”
Cargojet has grown in its highest value since February 2014 after news of the agreement filtered through.
Cargojet's shares have also climbed by 28%.
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