Wall Street loves conglomerates, which are oligopolies, or rather monopolies – companies with “a wide and long-lasting moat,” as Buffett said.

By Wolf Richter for WOLF STREET.

Amazon today officially announced a deal that was finalized months ago: the purchase of 11 aging Boeing 767-300 jets, seven from Delta that were discontinued in the second quarter, and four from Canadian airline WestJet that are switching to freighters and are to be put into operation for Amazon Air.

The four WestJet planes that Amazon acquired today in March are currently being transshipped and expected to operate near Amazon Air. The seven Delta aircraft will start operations in 2022.

On August 31, the FAA had issued a direct registration for the first of the eleven aircraft with Amazon.com Services LLC, Paxex.Aero reported in early September. The aircraft had originally entered passenger service for Quantas in 1991 and has flown for West Jet for the past five years. March,…

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