Amazon To Develop Air Cargo Facility at Newark Liberty Airport

Amazon struck an agreement with the Port Authority of New York & New Jersey to develop an air-cargo facility at Newark Liberty International Airport. From a report: Amazon Gobal Air, the company's cargo airline, plans to spend $125 million to transform two existing buildings at the airport, according to a Port Authority news release. The agency will receive $157 million in rent over a 20-year lease and an upfront payment of $150 million. The lease is expected to take effect later this year, the Port Authority said.

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