Atlas Air Worldwide has signed a deal with Amazon to fly 20 Boeing 767-300s for the online retailer under a 10-year lease deal that grants Amazon rights to acquire as much as 30 percent of the cargo carrier. The deal marks the second such move by Amazon to “supplement” its delivery capacity since March, when it signed a similar contract with Wilmington, Ohio-based Air Transport Services Group (ATSG) covering another 20 Boeing 767s.

The latest agreements will include the operation of the 20 converted freighters for Amazon on a CMI (crew, maintenance and insurance) basis by Atlas Air Worldwide's airline subsidiary, Atlas Air, as well as dry leasing by its Titan Aviation leasing unit. The dry leases will carry a term of 10 years, while the CMI operations extend to seven years with a provision allowing for a total term of 10 years. The companies expect operations under the agreements to begin in the second half of 2016 and accelerate to full service through 2018.

Atlas Air Worldwide granted Amazon warrants to acquire up to 20 percent of its common shares at a price of $37.50 per share over a period of five years “as part of the inherent value creation and to align interests and strengthen the long-term relationship.” Atlas also granted Amazon warrants to acquire up to another 10 percent of its shares at the same exercise price over a seven-year period.

The ATSG deal granted Amazon warrants to acquire as much as 19.9 percent of that carrier’s common shares over a five-year period.