Amazon is working towards ensuring faster delivery and the launch of its latest air hub in Kentucky signals the company’s intentions.
Amazon Opens Its Latest Air Hub
E-commerce giant Amazon announced earlier today that it had launched its latest air hub in Northern Kentucky. The $1.5 billion air hub is designed to help the e-commerce giant deliver products to its customers faster.
In an announcement earlier today, Amazon said the launch of the air hub is a major milestone for Amazon Air, the company’s fast-growing air cargo arm. The Amazon Air routes are flown by several contracted carriers and have experienced massive growth since it was launched five years ago.
While Amazon Air currently operates in over 40 airports across the United States, the terminal at Cincinnati/Northern Kentucky International Airport is expected to serve as the central nerve of the company’s nationwide cargo network. The terminal will enable Amazon to boost its 1-day and same-day delivery in various parts of the United States.
The launch of the Kentucky hub is a huge achievement for Amazon as the company has been working on the project for the past four years. Bezos believes that the hub would allow Amazon to get packages to customers faster, and that is a big deal for the company.
AMZN Consolidating Following A Period Of Growth
Amazon’s stock experienced an excellent start to the year, rising by over 20% to reach a yearly high of $3,727 in July. However, AMZN has been in a consolidation stage for the past few weeks, with the stock price down by over 10% in less than two months.
At the time of this writing, AMZN is trading at $3,292.22 per share, down by 0.86% today. The stock price has declined despite the positive news of the launch of the Kentucky air hub. However, Amazon remains one of the leading companies globally, and analysts still see it performing well before the end of the year.
This article was originally posted on FX Empire