DHL picks 49% in Polar Air Cargo

MUMBAI: DHL Express, one of the world’s largest express and logistics company, has acquired a 49% stake in Polar Air Cargo Worldwide, a provider of global air cargo services and a wholly-owned unit of Atlas Air Worldwide Holdings (AAWW).

DHL has invested $150 million for a 49% stake and will have 25% voting rights in the company. Through this agreement, DHL Express will have access to Polar Air Cargo’s aircraft capacity in key global markets for 20 years.

In addition, DHL will also have access to additional availaible aircraft capacity from Atlas Air, another subsidiary of AAWW.