Tag: Fedex

March 24, 2023

FedEx will close its heavy maintenance hangar at Los Angeles International Airport next summer and consolidate operations in Indianapolis to reduce costs, ending a piece of aviation history rooted in the acquisition of Flying Tiger Line 35 years ago. The […]

February 27, 2023

FedEx Corp. (NYSE: FDX) said Monday it has launched a 50-day humanitarian initiative that will culminate on April 17, the 50th anniversary of the company’s first day of flight and ground operations. The program, which FedEx coined 50 Days of […]

February 2, 2023

Two days do not make a trading trend. But for the second consecutive session, FedEx Corp. shares are spiking. Near the close of trading Thursday, FedEx (NYSE: FDX) shares were up nearly 6.3%, or more than $12 a share. This […]

January 10, 2023

FedEx Corp. plans to scale back even more on Sunday package deliveries as the courier grapples with faltering e-commerce demand. The pullback will reduce the availability of Sunday service to about 50% of the U.S. population, according to an internal […]

December 22, 2022

FedEx will increasingly rely on outsourced air transport for growth as it pursues an aggressive cost-cutting strategy to resize its delivery network in line with deteriorating market conditions and a structural rebalance in e-commerce sales, executives said. “An initial priority […]

December 20, 2022

FedEx Corp. posted fiscal 2023 second-quarter results late Tuesday that demonstrated its ability to quickly slash costs but also confirmed the damage a slowdown in demand is inflicting on its top line. FedEx (NYSE: FDX) reported adjusted diluted earnings per […]

December 19, 2022

TransImpact says there will be virtually no difference in rates in 2023 between FedEx and UPS. Shippers using FedEx Corp. and UPS Inc. can expect 8% to 10% price increases in 2023 once rate and various “accessorial,” or add-on, charges […]

December 12, 2022

The FedEx program will accept unboxed, unlabeled returns, then consolidate returned items and ship them back to merchants. FedEx Corp. said Monday it will launch a parcel returns consolidation program that will allow returned items to be dropped off without […]

October 28, 2022

A new report from FedEx released Monday says the company worked with 360,000 suppliers worldwide in 2021, supporting more than 16.5 million jobs and contributing to the suppliers’ combined annual revenue of $700 billion. The company’s 2022 report analyzed its […]

September 16, 2022

FedEx Corp. is set to erase $11 billion in market value after withdrawing its earnings forecast on worsening business conditions, a potentially worrying sign for the global economy. The package delivery giant flagged weakness in Asia and challenges in Europe […]

August 26, 2022

FedEx Ground has sued one of its largest delivery contractors, claiming he is spreading false and misleading information about the company and its relationships with contractors to boost the fortunes of his web of businesses. In a filing early Friday, […]

June 29, 2022

FedEx Corp. expects to grow earnings per share as much as 19% annually over the next three years by targeting “high-value” customers and squeezing more efficiency out of its networks. The three-year plan, the first strategic outlook under new CEO […]

June 22, 2022

FedEx Corp. and supply chain solutions provider FourKites on June 22 announced an alliance to offer customers new, real-time data and information. The purpose is to help businesses navigate challenges, operate more efficiently and develop new growth opportunities. Without disclosing […]

May 6, 2022

Air Transport Services Group, the air cargo industry’s Swiss Army knife, revealed that a Dublin-based contract airline with customers such as Amazon Air and FedEx has ordered five Airbus converted freighters, building on the first-quarter profit contribution of its leasing […]

April 18, 2022

Alpine Air Express, which provides air cargo services to smaller communities in the western U.S. for customers such as FedEx, UPS and the U.S. Postal Service, said Monday it has acquired Omaha, Nebraska-based Suburban Air Freight to support growing demand […]

March 10, 2022

FedEx Corp. said late Thursday that Richard W. Smith, the son of FedEx founder, Chairman and CEO Frederick W. Smith, will become president and CEO of FedEx Express, the company’s air and international unit and what is still its core […]

January 7, 2022

UPS Inc. and the U.S. Postal Service turned in stellar delivery performances during the peak holiday season, while FedEx Corp. lagged, according to data published late Friday by consultancy ShipMatrix Inc. UPS (NYSE: UPS) delivered 96.9% of all parcels within […]

November 17, 2021

FedEx Corp. is shutting its crew base in Hong Kong, the world’s busiest international cargo hub, and relocating its pilots as the city considers stricter measures on flight crews to curb the spread of COVID. While the crew base will […]

October 26, 2021

UPS Inc. rode higher prices and strong delivery demand driven by e-commerce to post profit that topped analysts’ expectations. It also raised its operating margin outlook to 13% for 2021 from an earlier target of 12.7%. UPS and rival FedEx […]

October 22, 2021

FedEx Corp. said it will rescind its money-back guarantee on its U.S.-based air services for the upcoming peak holiday shipping season, nearly seven months after restoring them. Effective Nov. 1, FedEx (NYSE: FDX) will suspend the guarantee on nine air […]