Revised Amazon deal to boost Sun Country's cargo profits [Yahoo! Finance]
Amazon.com, Inc. (AMZN)
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Source: Yahoo! Finance
aircraft for Amazon's e-commerce parcel network, an executive with the leisure carrier said Friday. Under the revised contract announced Thursday , Amazon will place eight additional Boeing 737-800 converted freighters with Sun Country (NASDAQ: SNCY ) to operate on its behalf. The retail giant also extended the contract until 2030. The aircraft, which Amazon (NASDAQ: AMZN ) is transferring from Atlas Air's air operating certificate to Sun Country's, will be delivered between the first and third quarters next year. Minneapolis-based Sun Country, which has operated a dozen 737-800 freighters for Amazon for four years, will earn profit margins on par with its passenger business once all the aircraft join the fleet after negotiating improved terms, Chief Financial Officer Dave Davis said on a briefing call with equity analysts. Flight hours for the cargo fleet will increase by 60% to 65% next year because of the additional aircraft and then continue to grow on an annual basis at 13% t
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AMZN
Earnings
- 4/30/24 - Beat
AMZN
Sec Filings
- 6/21/24 - Form 144
- 6/20/24 - Form 144
- 6/6/24 - Form 144
- AMZN's page on the SEC website