Tag Archives: 777-FS2

FedEx Express requests NMB mediation for a new pilots contract

FedEx Express (Memphis), a subsidiary of FedEx Corporation (Memphis), has formally requested assistance from the National Mediation Board (NMB) to expedite its ongoing pilot negotiations. The NMB is the U.S. governmental agency that oversees labor agreements for entities covered by the Railway Labor Act (RLA), such as airlines, railroads and express companies.

The company and its pilots, who are represented by the Air Line Pilots Association (ALPA), have been engaged in contract talks for more than a year. The current contract became amendable on February 25, 2013 and the two sides reached a tentative agreement on 20 of the 31 contract sections in September 2014.

Under the RLA, the terms and conditions of the existing contract between the company and ALPA do not expire until the full multi-step RLA process is exhausted. In the meantime, the progression of negotiations into the mediation stage has no impact on company operations or its ability to provide highly reliable service to customers.

Copyright Photo: Michael B. Ing/AirlinersGallery.com. Boeing 777-FS2 N862FD (msn 37733) arrives on a cold day at Anchorage.

FedEx Express Aircraft Slide Show: AG Slide Show

 

FedEx Corporation reports fiscal year net income of $1.56 billion

FedEx Corporation (FedEx Express) (Memphis) reported earnings of $2.46 per diluted share for the fourth quarter ended May 31. Last year’s fourth quarter earnings were $2.13 per diluted share, excluding a $0.98 per diluted share business realignment program charge and a $0.20 per diluted share noncash aircraft impairment charge at FedEx Express. Including last year’s charges, earnings were $0.95 per diluted share.

“An outstanding fourth quarter helped FedEx post solid results for fiscal 2014, and we believe we are well positioned for a strong fiscal 2015,” said Frederick W. Smith, FedEx Corp. chairman, president and chief executive officer. “I would like to extend my sincere appreciation to the entire FedEx team for their contribution to our results and their continued commitment to providing outstanding service to our customers and connecting people and possibilities around the world.”

For its entire fiscal year the cooperation reported net income (GAAP) of $1.56 billion.

Read the full report: CLICK HERE

Copyright Photo: Michael B. Ing/AirlinersGallery.com. Boeing 777-FS2 N857FD (msn 37728) climbs into the sky at Anchorage International Airport (ANC).

FedEx Express: AG Slide Show

FedEx Corporation reports net income of $489 million in the fiscal 1Q, up 7%

FedEx Corporation (FedEx Express) (Memphis) reported earnings of $1.53 per diluted share for the first quarter ended August 31, compared to $1.45 per share last year.

“Growth in overall demand for our broad global portfolio of solutions drove our improved first quarter results,” said Frederick W. Smith, FedEx Corp. chairman, president and chief executive officer. “FedEx Express remains focused on reducing costs while facing challenging global economic conditions. Meanwhile, FedEx Ground continues to generate strong profitability on growing customer demand for its services.”

First Quarter Results

FedEx Corp. reported the following consolidated results for the first quarter:

• Revenue of $11.0 billion, up 2% from $10.8 billion the previous year

• Operating income of $795 million, up 7% from $742 million last year

• Operating margin of 7.2%, up from 6.9% the previous year

• Net income of $489 million, up 7% from last year’s $459 million

Revenue and earnings increased during the quarter, driven by solid performance at each of the company’s transportation segments. Results include significant headwinds from the net year-over-year impact from the timing lag that exists between when fuel prices change and indexed fuel surcharges automatically adjust, as well as one fewer operating day.

Outlook

FedEx reaffirmed its forecast of full-year earnings per share growth of 7% to 13% from last year’s adjusted results. This outlook assumes the market outlook for fuel prices, U.S. GDP growth of 2.1% and world GDP growth of 2.6%. The capital spending forecast for fiscal 2014 remains $4 billion.

“We remain confident in our full year earnings outlook despite tepid global economic growth,” said Alan B. Graf, Jr., FedEx Corp. executive vice president and chief financial officer. “FedEx Express continued to execute on its profit improvement initiatives during our first quarter. We remain focused and are committed to FedEx Express achieving its $1.6 billion operating profit improvement target by the end of fiscal 2016.”

2014 Rate Increases

FedEx Express will increase shipping rates by an average of 3.9% for U.S. domestic, U.S. export and U.S. import services effective January 6, 2014. The FedEx Ground and FedEx SmartPost pricing changes for 2014 will be announced later this year. FedEx Freight implemented a 4.5% general rate increase on July 1, 2013.

Copyright Photo: Michael B. Ing/AirlinersGallery.com. Boeing 777-FS2 N852FD (msn 37723) approaches Anchorage International Airport for landing.

FedEx Express: AG Slide Show

FedEx orders two more Boeing 777F freighters

FedEx Express (Memphis) has ordered two more Boeing 777F freighters.

Copyright Photo: Nick Dean. Departing in the early morning misty light at Everett (Paine Field) is new Boeing 777-FS2 N851FD (msn 37722).

FedEx Express takes delivery of first Boeing 777F

Copyright Photo: Royal S. King. Please click on photo for more photos.

Copyright Photo: Royal S. King. Please click on photo for more photos.

FedEx Express (Memphis) yesterday (September 22) took delivery of its first Boeing 777F freighter (777-FS2, N850FD, msn 37721). The 777F will fly between the United States and Asia. The 777F will be capable of flying 5,800 nautical miles, 2,100 nm further than the McDonnell Douglas MD-11F it will replace.

Press release:

finance.yahoo.com/news/FedEx-Express-to-Take-bw-73758991.html?x=0&.v=1