The Department of Defense announced eight new defense contracts, worth $382.4 million in aggregate, Tuesday.
The largest of these awards, worth an estimated $145.2 million, came in the form of a contract modification granted to the "Federal Express Charter Programs Team Arrangement," whereby several companies cooperate to provide international airlift services in support of U.S. forces. Specifically, the "team" members benefiting from this contract modification include:
- FedEx (NYSE:FDX) itself.
- Delta Air Lines (NYSE:DAL).
- Atlas Air Worldwide (NASDAQ:AAWW) -- specifically, its Atlas Air and Polar Air Cargo Worldwide subsidiaries.
- Privately held Air Transport International and MN Airlines.
By virtue of today's contract modification, these firms will continue providing international airlift services to the military through Sept. 30 of next year.