To beef up the flow of freight into its ground delivery network, Plantation, FL-based express carrier DHL has acquired a 49% minority equity interest and a 24.9% voting interest in Astar Air Cargo of Miami, FL, and extended its ACMI contract with the carrier through 2019. The financial terms of DHL’s investment in Astar were not disclosed.
“Our investment in Astar signals another major commitment to the U.S. market by DHL,” said Hans Hickler, CEO of DHL Express. “This represents a major milestone as we deliver on our strategy to provide a compelling alternative in the domestic express delivery market.”
He said DHL has recently made targeted aviation investments in order to build greater resiliency in the air network supporting its U.S. ground operations – which includes recent investments in Polar Air Cargo, Inc., Purchase, NY, to boost express delivery services from the U.S. to Asia and orders for six Boeing 767-300ER air freighters for use mainly between Europe and the U.S.
Astar, which operates a fleet of 44 aircraft to serve customers throughout the U.S., Europe and the Middle East; directs flight operations out of its Wilmington, OH hub with gateways in New York, Los Angeles, and Miami, and has contracted with DHL for air transportation services since 2003.