All FedEx Articles – Page 11
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News
FedEx reports mixed third-quarter financial year results
FedEx has reported financial results for the third quarter of its current financial year, the three months that ended on February 28.Revenue was up to $16.5bn from $15bn in the same quarter of 2017, while operating income fell very slightly to $1bn.According to Frederick Smith, FedEx Corp chairman and chief ...
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FedEx to spend $1bn on Memphis hub
FedEx is to invest over $1bn in its Memphis hub, the project including construction of a new sort facility with state-of-the-art sort systems, construction of a bulk truckload building and a new area to improve handling of the oversized shipments that have increased with the growth in e-commerce.Chairman and chief ...
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FedEx trumpets $1.5bn investment in Indianapolis hub
FedEx is to investing $1.5bn to "significantly expand" the FedEx Express Indianapolis hub over the next seven years as part of a three-pronged pay, pension fund and infrastructure investment package outlined today.The US parcel and logistics giant's Memphis SuperHub will also be modernised and enlarged in a major programme, the ...
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FedEx's Binks to retire in June
David Binks, FedEx Express Europe president and chief executive of TNT, will retire in June to be succeeded by Bert Nappier, currently FedEx Express senior vice president of finance - international.Binks, who started with FedEx in 1983 as part of an acquisition in the UK, rose through the ranks, leading ...
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FedEx expands freight forwarding business
FedEx is expanding freight forwarding division, FedEx Trade Networks, with the addition of its speciality logistics and e-commerce solutions businesses from March.FedEx Trade Networks (FTN), which is led by Richard Smith, son of FedEx founder Fred Smith, will include a new company called FedEx Forward Depots, with responsibility for critical ...
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FedEx opens new Shanghai hub to meet express growth
FedEx has opened its Shanghai International Express and Cargo Hub located at Pudong International Airport as it looks to expand the reach of service.FedEx said that the facility provides "greater connectivity and convenience to the FedEx global network and overseas markets for customers in eastern China, particularly those shipping to ...
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FedEx optimistic on air cargo and US tax reforms
FedEx is expecting another year of air cargo growth, while it also expects to benefit from US tax reforms that were passed yesterday by the Senate.The express giant yesterday reported second-quarter fiscal results, with revenues increasing 9.4% to $16.3bn, operating income up 7.7% to $1.3bn and net income improving 10.7% ...
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FedEx ready for the Christmas rush
FedEx expects says it expects to handle 380-400million packages on its global network between Black Friday (24 November) and Christmas Eve.It also predicts that it will more than double its average daily volume of 13 million shipments on three Mondays over the Christmas period.It attributes the surge to e-commerce-savvy consumers ...
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FedEx to be launch customer for new Cessna turboprop
FedEx Express is to be the launch customer for a new Cessna twin-engine turboprop aircraft.The express giant has signed a deal with Cessna parent company, Textron Aviation, for 50 SkyCourier 408 aircraft, with options for a further 50.The new aircraft, described as a development of the single-engined Cessna Caravan, is ...
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FedEx Express orders up to 50 ATR 72-600 production line freighters
FedEx Express has signed a firm purchase contract for 30 ATR72-600s plus 20 options.These eight tonnes cargo capacity aircraft will be the first new ATRs to be directly delivered from the factory in a freighter configuration.Deliveries of the ATR72-600Fs to FedEx Express will begin in 2020.“This new aircraft version, designated ...
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FedEx expands Barcelona hub
FedEx Express has opened a new ground operations centre in Barcelona’s Zona Franca.FedEx says Spain is a key part in its development of a European leading logistics network. Following its acquisition of TNT last year, FedEx Express is adding a European ground network to its existing air operations.It will process ...
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FedEx to double size of air cargo facilities at Incheon airport
FedEx Express has revealed it will double the size of its air cargo handling facility at Incheon International Airport as it looks to cater for rising volumes in South Korea.Establishing a new cargo facility at Incheon International Airport is a strategic move for FedEx — the airport has seen the ...
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FedEx takes $300m operating income hit on cyber attack
The Petya cyber attack cost express giant FedEx $300m in lost operating income during the first quarter of its financial year ended August 31.The company said the cyber attack, which hit its TNT Express business in June, predominantly affected revenues. The loss of revenues went straight through to its profits ...
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FedEx asks for second extension to Cuba service start-up deadline
FedEx has asked for more time to start up its new Cuba freighter service after facing problems finding suppliers in the country and due to potential changes to US policy.Last year, the express firm was the only airline granted permission to operate all-cargo services between the US and Cuba as ...
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FedEx and UPS top bosses in memo to Trump: Keep the US globally competitive
US logistics giants and fierce rivals UPS and FedEx have joined forces by calling on the US Congress and the Trump Administration to work on policy reforms to keep the US globally competitiveIn a signed editorial published in the influential Wall Street Journal, FedEx Corp chairman and chief executive Fred ...
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FedEx financial performance hit by TNT cyber attack
Express firm FedEx said today that its financial results will be affected by the Petya cyber attack that hit subsidiary TNT. The company continues to be affected by the virus.In a stock exchange announcement, the express giant said it was still evaluating the financial impact of the attack, but it ...
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NewsTop 25 cargo airlines 2016: FedEx maintains top spot but ABC and Qatar on the up
FedEx was once again the busiest freight airline in the world, while Qatar Airways, AirBridgeCargo (ABC) and All Nippon Airways were among the fastest growers in 2016 (see end of article for full table).The annual World Air Transport Statistics report from Iata showed that in freight tonne km (FTK) terms, ...
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FedEx adds Bangladesh security surcharge
FedEx Trade Networks will add a surcharge on shipments from Bangladesh to the European Union (EU) after stricter security standards were introduced.FedEx's forwarding arm said that as a result of the EU adding Bangladesh to its list of high-risk countries shipments will need to go through new screening measures in ...
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Boeing and FedEx Express test green technologies on B777F
Boeing and FedEx Express will use a new B777 freighter to test emerging technologies, such as propulsion advancements and flight deck innovations.The ecoDemonstrator program, now in its fifth phase, serves as a series of flying testbeds designed to improve the environmental performance and safety of future airplanes."The ecoDemonstrator program is ...