Amazon is ready to buy nearly 10% of ATSG, as soon as ATSG has a stockholder meeting – or on July 8 – whichever is sooner. The e-tailer has the right to buy up to 19.99% over the next five years. Amazon had insisted on share ownership as part of its deal to wet lease 20 767Fs from ATSG. Once it owns 10%, it will have a seat on the aviation group’s board. At a cost of $69m (and a considerable discount from Friday’s price of $103m), ATSG will benefit from a good chunk of investment while Amazon buys itself a vantage point from which to learn the air freight business.

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