All FedEx articles – Page 5
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News
Expeditors the latest to outline ongoing air cargo constraints
Congestion and capacity shortages in air cargo are expected to continue as the industry deals with the impact of ocean shipping chaos, heightened demand and lost belly capacity, according to Expeditors senior vice president of global air Kelly Blacker.Speaking on a company podcast, Blacker described the freight market as an ...
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Airfreight market set to get worse before it gets better for buyers
Buyers of airfreight capacity should expect the market to get worse before it gets better, according to Bruce Chan, vice president of global logistics at investment bank Stifel.Writing in the Baltic Exchange monthly market summary, Chan said that belly capacity is not expected to return until 2023 at the earliest.And ...
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FedEx reduces Liege hub job cuts
Fewer FedEx employees will be made redundant at its Liege hub as a result of demand increases and discussions with unions.The express giant had announced a series of job cuts in January as a result of the integration of the air network of TNT Express, which it purchased for €4.4bn ...
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FedEx to add freighters and boost spending to meet demand
FedEx will boost spending over the coming year and add more freighter orders to meet growing e-commerce demand.Announcing its results full-year results for fiscal year ended May 31, the express giant said it expected to spend around $7.2bn in FY 2022 compared with around $5.9bn last year.Meanwhile, FedEx will exercise ...
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Strong Q3 for FedEx as it predicts ongoing freighter demand
FedEx saw revenues and profits rise in its fiscal third quarter results, while it also predicts ongoing bellyhold capacity shortages in air cargo.The express giant saw fiscal third-quarter revenues increase by 22.9% year on year to $21.5bn, operating profits improved 145.7% to $1bn and net income was up 64.7% to ...
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FedEx and DoT hit out at Hong Kong quarantine rules
The US Department of Transport (DoT) may limit flights by the Cathay Pacific Group airlines in response to the latest Hong Kong's quarantine rules, saying they disproportionately affect US carriers.The new quarantine rules require that all Hong Kong-based crews quarantine for two or three weeks when returning from an international ...
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FedEx invests $2bn in sustainable technologies
US cargo carrier FedEx is investing more than $2 billion as part of an effort to achieve carbon-neutral operations across its global network in 20 years.The Memphis, Tennessee-headquartered company says on 3 March it is focusing on three areas to achieve this goal: vehicle electrification, sustainable fuel and carbon sequestration.“We ...
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Jacquet appointed interim CEO at Liege Airport after dismissal of Partoune
The Liege Airport board of directors has appointed Frédéric Jacquet as interim chief executive of the hub after the dismissal of Luc Partoune.The Liege Airport board of directors met on February 9 and decided to dismiss chief executive Luc Partoune with immediate effect.Reports allege that audits revealed several irregularities,which led ...
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FedEx to cut jobs and integrate TNT air network in Europe
Express firm FedEx plans to cut jobs in Europe and combine air networks as part of the integration of TNT.The US logistics giant acquired TNT for €4.4bn in 2016 as part of its European expansion plans and has been integrating IT systems and air, road and ground networks since then.The ...
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FedEx confirms acquisition of B777F from Etihad
FedEx Express has confirmed the recent acquisition of a Boeing 777 freighter aircraft from Etihad, as it continues its fleet modernisation.Manager of FedEx communications Jonathan Lyons said the aircraft will go into operation later this year.As of November 30 last year, the express giant had 46 B777 freighters in its ...
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FedEx profits soar as e-commerce volumes take off
FedEx saw fiscal second-quarter revenues and profits improve as e-commerce growth fueled record volumes.The express giant, which operates 680 aircraft, employs 600,000 people and has 200,000 vehicles, saw fiscal second-quarter revenues increase by 19% year on year to $20.6bn, operating income was up by 165% on a year earlier to ...
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NewsFirst ATR 72-600 freighter delivered to FedEx
The first turboprop ATR72-600 production freighter has been delivered to express carrier FedEx as part of its fleet renewable programme.The feeder aircraft, based on the passenger model, took three years to develop and launch and offers around nine tonnes of capacity or 75 cu metres of space. It is ATR's ...
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NewsUS cargo carriers fly US Covid-19 vaccine shipments following FDA approval
FedEx, United, American and UPS are among the airlines flying the first wave of US Pfizer-BioNTech Covid-19 vaccine doses following approval by the US Food and Drug Administration.After months of preparation and close planning with Pfizer, other healthcare companies, and federal and state officials, the first Covid-19 vaccines are now ...
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NewsFedEx Express ups capacity across its Asia Pacific network
In order to cope with unprecedented airfreight demand due to e-commerce growth this peak season, FedEx Express has added cargo capacity on its routes in the Asia-Pacific region.The company has increased its flight frequency for Asia-to-Europe flights, as well as flights between Australia and destinations in Asia.The move follows FedEx ...
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FedEx: Seeking potential beyond Covid-19
For many people, the pandemic may not have been an ideal time to start a new job, but Kawal Preet — who took up her role as president, of Asia Pacific, Middle East and Africa (AMEA) in March — has risen to the challenge.Since starting, she has kept an eye ...
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E-commerce demand fuels FedEx revenues as it prepares for Covid vaccine
FedEx saw its revenues and profits improve in its fiscal first quarter as a surge in e-commerce demand propelled performance.The express giant saw revenues for the three months ended August 31 increase by 13.5% year on year to $19.3bn, while net income was up 67.8% to $1.2bn and operating income ...
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NewsFedEx prepares for vaccine distribution with launch of precise tracking sensor
FedEx has launched a lightweight, sensor-based logistics device called SenseAware ID that enables the highly precise tracking of shipments.FedEx said that the launch of SenseAware ID is "well-timed", as it continues to move pharma and medical supplies around the US. In addition, it expects SenseAware ID to be used in ...
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FedEx upgrades China cross-border e-commerce export service
FedEx Express has upgraded its cross-border e-commerce export service in southern China as part of a pilot scheme run by China customs.FedEx customers at its Guangzhou and Xiamen gateways can register and system-dock at their local customs offices and will be able to benefit from a simplified declaration process, priority ...
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NewsCargolux and FedEx operate aid flights to Beirut
Cargolux and FedEx have conducted aid flights carrying supplies for Beirut as the city continues to recover from the deadly blast that happened earlier this month.FedEx picked up $11m worth of medicines, medical supplies and personal protective equipment from the headquarters of charity Direct Relief in Santa Barbara, which was ...
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NewsTop 25 cargo airlines 2019: FedEx retains the top spot as Qatar climbs
FedEx was last year the world's busiest cargo airline despite volumes remaining flat on a year earlier, while Qatar moved into second place and UPS was up to third, according to IATA's World Air Transport Statistics (WATS) report. (See end of report for full chart).Last year was a tough 12 ...