Amazon Air Deliveries Slump As Shipping Slowdown Worsens

- Amazon Air Deliveries Slump As Shipping Slowdown Worsens
by Tyler Durden, https://www.zerohedge.com/
FedEx warned of weakening shipping demand last week, while some analysts said the company’s failures to adapt contributed to its subpar performance. But maybe that’s not the entire case, and decelerating shipping demand is a sign the economy is faltering.
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It hasn’t even been a week since the Fedex warning, and the latest sign of a shipping slowdown comes from Amazon Inc.’s Prime Air, a large fleet of cargo planes transporting Amazon packages, Bloomberg reported.
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Researchers at DePaul University’s Chaddick Institute for Metropolitan Development found that Amazon’s air freight fleet averaged about 194 flights per week earlier this month, up 3.8% from March. Their data showed the smallest increase in flight growth compiled every six months since May 2020.
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“Amazon is making significant adjustments. It apparently was overly optimistic about its need to grow its supply chain so rapidly at the height of the pandemic,” Joseph Schwieterman, the Chicago-based institute’s director, said in an interview.
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