Air Transport Services Group (ATSG), which handles cargo for Amazon and DHL, said the companies are cutting back on flights in response to lower customer demand.
"Both companies are adjusting their ground and air distribution and fulfillment networks in the United States to conform to reduced U.S. economic growth and consumer spending levels in the first half of 2023," the company said in a news release.
ATSG said the 767 freighters dedicated to those customers will see reduced schedules and fewer block hours per aircraft in 2023 compared to last year.
This tracks with recent data from the International Air Transport Association, which found that global demand for cargo was down 13.7 percent year-over-year in November.
“Air cargo performance softened in November, the traditional peak season," said Willie Walsh, director of IATA. "Resilience in the face of economic uncertainties is demonstrated with demand being relatively stable on a month-to-month basis. But market signals are mixed."
Amazon notably just reported one of its worst-ever quarters. The company has announced plans to cut 18,000 jobs and hit the brakes on its ongoing build-out of warehouses.
If you're looking to upgrade your home entertainment system, Vizio may have you covered, especially this holiday season. Phil Schneider, head of device sales with Vizio, spoke with Cheddar News about what's currently in demand.
There are reports that Warner Brothers Discovery and Paramount have held talks to join forces. Cheddar News breaks it down to discuss what this could mean for the media landscape and for viewers.
Thursday kicks off the busiest holiday travel period of the year.
SiriusXM is facing a new lawsuit for allegedly trapping customers into subscription plans.
IKEA says it expects shipping delays and other product availability issues due to ongoing attacks by Houthi rebels in the Red Sea.
There are multiple reports that talks are underway for a potential merger of Warner Brothers Discovery and Paramount Global.
Stocks jumped after the opening bell on Thursday a day after Wall Street suffered its worst loss since October.
Dunkin said it's removing coconut milk from the menu.
Power Brands is recalling two of its air fryer models following reports of burns.
With only a few days until Christmas, people are still scrambling to buy gifts for friends and family. Claudia Lombana, consumer and shopping expert, joined Cheddar News to provide tips on how to budget for those gifts.
