News / A $132m investment from Amazon – not a bad day for bullish ATSG

A Boeing 767-200 converted freighter leased from ATSG to Raya Airways receives a water salute upon arrival in Malaysia. (Photo: Business Wire)

“Amazon intends to wire us $132m tomorrow.”

It’s a nice sentence to be able to say, and there is no doubt Quint Turner, CFO of ATSG, enjoyed the moment during an earnings call which could otherwise have been a touch disappointing.

And why is Amazon, avoider of taxes and unions, giving ATSG $132m as we speak?

It has decided to exercise the warrants it holds for 13.6m ATSG shares and, once the money is paid, Amazon will be ATSG’s largest shareholder, with14.4 million ...