DHL Express announced yesterday that it had bought a 49% minority stake in Astar Air Cargo, Miami,as part of its strategy to win share in the US domestic express industry.
The Deutsche Post subsidiary has also extended its Aircraft Crew Maintenance and Insurance(ACMI) contract with Astar until 2019. The stake in Astar gives DHL 24.9% voting rights. The valueof the deal was not disclosed.
“Our investment in Astar signals another major commitment to the US market by DHL. Thisrepresents a major milestone as we deliver on our strategy to provide a compelling alternative inthe domestic express delivery market,” said Hans Hickler, DHL Express chief executive officer inthe US. Hickler joins the Astar board.
DHL has been investing in US air capacity in recent months, buying a 49% stake in Polar Airfor $150 million and ordering six Boeing 767-300ER freighters for use mainly between Europe and theUSA.
Astar operates a fleet of 44 aircraft to serve customers throughout the USA, Europe and theMiddle East, flying directly from Wilmington, where DHL has its main hub, and with gateways in NewYork, Los Angeles and Miami.
