DHL Partners With Polar Air Cargo
arcel carrier DHL Express will partner with Polar Air Cargo, the companies announced Monday.
Under the agreement, Polar Air, a subsidiary of Atlas Air Worldwide Holdings, will provide DHL Express with cargo capacity on trans-pacific air routes, DHL said in a statement.
As part of the deal, DHL will pay $150 million to acquire a 49% stake in Polar Air, which will continue to operate as an independent company.
The companies expect to close the deal by early 2007.
The American operations of DHL Express are part of DHL Americas, which is ranked No. 4 on the Transport Topics 100 list of the largest for-hire carriers in the United States and Canada.
