At a little-known cargo airline that handles shipments for United Parcel Service Inc. and Amazon.com Inc., business is booming.
With passenger carriers forced to cut most of their freight capacity during the pandemic, seven-year-old Western Global Airlines LLC has picked up new orders amid a surge in online shopping.
Now, it’s benefiting from another big tailwind: the credit rally sparked by the Federal Reserve’s unprecedented backstop.
The Estero, Florida-based carrier is borrowing hundreds of millions of dollars from the junk-bond market to fund a stock program that will give it a sizable tax break, hand the founders a large payout and potentially keep its workforce union-free.
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https://finance.yahoo.com/news/cargo-airline-cashing-junk-bond-231010892.html
