DHL Buys Stake in Polar Air

Package delivery firm DHL said Thursday it acquired a 49% stake Polar Air Cargo Express, a unit of Atlas Air Worldwide Holdings, to expand its business in the Asia-Pacific region.

The deal gives DHL guaranteed access to Polar’s fleet of aircraft in certain markets for the next 20 years, DHL said. The deal could generate up $3.5 billion in additional revenue for DHL over that time, it said.

Atlas Air will continue to hold a majority stake in Polar Air Cargo.

DHL Americas IS ranked No. 4 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.