Amazon Air Cargo Flights Grow at Slowest Pace Since Early Pandemic

$Amazon(AMZN.US)$ ’s cargo airline is growing at the slowest pace since the start of the pandemic, the latest sign that the e-commerce giant is adjusting to slackening demand.
Amazon Air freighters averaged about 194 flights a day during a week earlier this month, up 3.8% from March. That’s the smallest increase in the institute’s periodic snapshots, compiled roughly once every six months since May 2020.
Amazon Air, which relies on pilots from a handful of partner carriers, flies packaged items en route to customers. That operation grew rapidly in the last few years, tacking on new airport hubs, leasing and purchasing more aircraft. It even contemplated acquiring bigger long-haul jets to import goods directly from Asia.

$FedEx(FDX.US)$ shocked investors last week after withdrawing its annual earnings forecast and saying preliminary results for the quarter fell short of expectations, sending shares of the package-delivery giant tumbling. Analysts subsequently said some of the company’s woes were self-inflicted and weren’t solely the result of slowing consumer demand.
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