Fred Smith gets new heir apparent after shock exit of FedEx COO

FedEx Corp. named a new No. 2 executive after company founder Fred Smith’s top deputy resigned abruptly, just weeks after joining the company’s board of directors. Raj Subramaniam will take over as president and chief operating officer (COO) March 1, replacing David Bronczek, FedEx said in a statement Thursday. Bronczek, 64, made a “personal decision’’ […]
  • Bloomberg News
  • February 14, 2019

Amazon tacitly admits in 10-K that integrators are now competitors

As Amazon continues its meteoric rise into the e-commerce stratosphere, the company’s relationship with the well-established integrators, like FedEx, UPS and DHL, have been relatively cordial, as Amazon has long relied on the express companies’ vast networks of last-mile options to deliver goods in a timely fashion. However, according to the latest annual Form 10-K […]
  • Randy Woods
  • February 7, 2019

FedEx sets up late-night race for retailers to challenge Amazon

FedEx Corp., looking beyond Amazon.com Inc. for growth in e-commerce, is introducing a new late-night shipping option for retailers who want to speedily send orders directly to online customers. The program will offer retailers the option to deliver items the next day when they are purchased online as late as midnight, said Brie Carere, FedEx’s […]
  • Bloomberg News
  • January 30, 2019

FedEx drops plans to serve Cuba, citing chilled U.S. relations

In another sign of cooling relations between the United States and Cuba, FedEx Corp. said yesterday that it will no longer pursue scheduled cargo service to the Caribbean island nation, ending a more-than-two-year effort to establish overnight courier service to the former Cold War adversary. According to Bloomberg, FedEx issued a statement on Wednesday, saying […]
  • Randy Woods
  • January 3, 2019

FedEx anticipates record-breaking peak season, warns of trade tensions

During FedEx’s FY Q1 2019 earnings call yesterday, CEO Fred Smith said the company is anticipating record-breaking volume during this year’s peak season. The positive news follows the company’s announcement last week that it will expand its U.S. ground operations to six days a week in response increased demand for e-commerce – this, despite current […]
  • Nina Chamlou
  • September 18, 2018

75th Anniversary Snapshot: Redefining fast – the evolution of express

For most of the early decades of Air Transportation magazine, the venerable periodical that eventually became Air Cargo World, the articles were about ever-larger, ever-faster aircraft that were capable of hauling enormous loads across the planet. While speed was always a selling point, much of the industry was trying to prove that it could compete […]
  • Randy Woods
  • August 13, 2018

FedEx reports solid fourth quarter results

Yesterday, in addition to the announcement that FedEx ordered for twelve 767Fs, and twelve 777Fs in a deal valued at US$6.6 billion, the express giant reported revenue up 10.1 percent, y-o-y, in its fiscal fourth quarter (ended 31 May) to a record $17.31 billion. Net income for the quarter was $1.13 billion, up 10.5 percent from […]
  • Randy Woods
  • June 20, 2018

Alibaba’s Ma cautions against U.S.-China trade war

Stakeholders in the air cargo industry have been critical of U.S. President Donald Trump’s protectionist rhetoric since before he took office in 2017. Yesterday, Alibaba chairman Jack Ma added to the chorus of disapproval as he discouraged pursuit of a trade war between China and the United States, while embracing “American-led globalization.” Ma’s commentary on […]
  • Caryn Livingston
  • April 12, 2018

FedEx rolls out ‘Purple Runway’ training program in face of pilot shortage

Yesterday, a new development was made in the ongoing pilot shortage saga, as FedEx announced a new training program, named Purple Runway, which will recruit pilots in training from universities and aviation colleges. The move was made to ensure the carrier’s continued leading status in a market in which qualified pilots are increasingly scarce. You […]
  • Nina Chamlou
  • April 3, 2018

Trump’s tax cuts gave FedEx huge boost in Q3 net income

Benefiting greatly from the Tax Cuts and Jobs Act (TCJA) championed by President Trump and passed in the U.S. Congress last year, FedEx Corp. reported a whopping 269 percent rise in quarterly net income, worth more than US$2 billion, said the Memphis-based integrator as it released its third-quarter figures for the 2017 fiscal year. The re-measurement of FedEx’s tax […]
  • Randy Woods
  • March 21, 2018

FedEx SME Trade Index finds widespread concerns about U.S. protectionism

76 percent of small business leaders told FedEx that “increasing trade between the U.S. and other countries will improve the U.S. economy,” according to the third FedEx SME Trade Index, released today. The results echo an increasingly vocal majority in the U.S. logistics sector that is calling for the Trump administration to abandon its protectionist […]
  • Lewis King
  • February 20, 2018

Amazon becomes more like an integrator with new program

In recent years, Seattle-based e-tailer Amazon has doubled-down on the expansion of its supply chain and fulfillment infrastructure, launching a dedicated freighter network, and enlarging the reach of its own-operated last-mile delivery services to include some 37 U.S. cities. Many in the air freight industry have long believed that it would only be a matter […]
  • Charles Kauffman
  • February 9, 2018

FedEx to make investments in Indianapolis hub expansion, wage increases

FedEx announced plans to invest about US$1.5 billion into expanding its FedEx Express Indianapolis hub over the next seven years, creating a modernized and enlarged “SuperHub,” as well as accelerate plans to increase hourly wages. The company said the investment is one part of a larger $3.2 billion investment plan, resulting from the passage of […]
  • Caryn Livingston
  • January 29, 2018

FedEx advocates for NAFTA reform to facilitate cross-border e-commerce

With representatives from Mexico, Canada, and the United States currently meeting in Montreal for the sixth round of negotiations on the North American Free Trade Agreement (NAFTA) reforms, major differences remain, and the March deadline is approaching fast. With its sprawling transnational network predicated on free trade, FedEx is following the developments closely, especially regarding […]
  • Lewis King
  • January 26, 2018
Page 1 of 1112345 10...Last »