Amazon Goes Aggressive In India, Starts Amazon Air For Shipping – Yahoo Finance


Amazon.com Inc (NASDAQ: AMZN) began air shipment services in India, despite the pandemic recovery-driven global online sales softening.
Amazon looks to tap its cargo capacity in its partner Quikjet Cargo Airlines Pvt operated Boeing Co (NYSE: BA) 737-800 aircraft to start shipping in Hyderabad, Bangalore, New Delhi, and Mumbai, Bloomberg reports citing VP Akhil Saxena.
Amazon tried to sublet unused space in its cargo jets as it battled the post-pandemic slowdown.
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Demand for air cargo has cooled, with the sector likely to slow down further this year.
Amazon owned over 110 planes flying to more than 70 destinations worldwide, Saxena said, at a launch event in Hyderabad, southern India.
Amazon offered space on its planes and charter flights on top of plans to sublet excess warehouse space.
Amazon launched its air cargo service in 2016, spurring speculation that it would ultimately create an overnight delivery network to rival  United Parcel Service, Inc (NYSE: UPS) and FedEx Corp (NYSE: FDX).
Amazon Air operated out of small regional airports close to its warehouses to fast-track one- and two-day delivery.
Last November, Amazon quietly began offering its transportation and logistics network as a service to third-party merchants, businesses, and direct-to-consumer brands in India.
Amazon has spent over $6.5 billion in India over the past seven years and said its offerings are shipping at “competitive rates” with no additional fee for deliveries on weekends and no contract formality for a consignment.
Amazon opened its logistics network to third-party merchants in the U.S. in 2022 with Buy with Prime.
Price Action: AMZN shares traded higher by 0.92% at $98.14 premarket on the last check Monday.
Photo via Wikimedia Commons
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