Amazon signs new partnership with FedEx, Business Insider says

Amazon.com (AMZN) signed a new partnership deal with FedEx (FDX) in late February to handle some parts of its package deliveries, Eugene Kim of Business Insider reports, citing an internal document obtained by the website. The FedEx deal gives Amazon “cost favorability” compared to UPS (UPS), the document said, according to Kim. UPS announced earlier this year that it would significantly reduce deliveries for Amazon, the website points out. The document doesn’t specify the extent of the deal or which Amazon packages will be handled by FedEx, Kim adds. In an email to BI, Amazon’s spokesperson confirmed the new partnership: “We’ve reached an agreement with FedEx to serve as one of several third-party partners to deliver packages to our customers. FedEx joins our other third-party partners like UPS and the USPS, that work alongside our own last mile delivery network to help us balance capacity to best serve customers.”