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.
New data shows job openings fell in October even though hiring remains healthy.
The holiday season is here and it could be a stressful time as people plan shopping, cooking and traveling. Sally Holmes, editor-in-chief of InStyle Magazine, joined Cheddar News to discuss a new social media trend #Treatculture that helps people take a moment to treat themselves and how that is a psychological benefit to relieve stress.
English Wikipedia raked in more than 84 billion views this year, according to numbers released Tuesday by the Wikimedia Foundation, the non-profit behind the free, publicly edited online encyclopedia. And the most popular article was about ChatGPT (yes, the AI chatbot that’s seemingly everywhere today).
Wikipedia has released its list of most viewed articles for 2023 with the site seeing over 84 billion visits. The most searched topic was ChatGPT with nearly 50 billion page views
Closing arguments are happening in a federal trial over whether Jetblue Airways will be allowed to buy Spirit Airlines for $3.8 billion.
Johnson and Johnson is reportedly looking to settle multiple lawsuits claiming that its baby powder causes cancer, according to Bloomberg.
Wells Fargo said it could face nearly $1 billion in severance costs in the fourth quarter.
The Supreme Court on Tuesday dismissed a case surrounding a Maine hotel that could have made it harder for people with disabilities to learn in advance whether a hotel's accommodations meet their needs.
The highly-anticipated trailer for Grand Theft Auto VI is out earlier than expected.
AT&T announced a new partnership with Swedish communications company Ericsson.
