Tag Archives: FedEx Corporation

Rock Center’s feature on FedEx and interview with Fred Smith

FedEx (Memphis) was one of the feature sections last night on NBC’s Rock Center:

Watch the Video: CLICK HERE

Copyright Photo: Nick Dean.

FedEx Photo Gallery: CLICK HERE

 

FedEx Express orders 27 new Boeing 767-300Fs to replace MD-10s

FedEx Express (FedEx Corporation) (Memphis) announced it has signed an agreement with the Boeing Company to purchase 27 new 767-300F aircraft, with three arriving in fiscal 2014 and six per year in fiscal 2015-2018. The 767s were selected as the best choice to begin replacing FedEx Expressโ€™s MD-10 aircraft, some of which are more than 40 years old. The 767s will provide similar capacity as the MD-10s, with improved reliability, an approximate 30% increase in fuel efficiency and a minimum of a 20% reduction in unit operating costs.

FedEx Express is also delaying the delivery of 11 777F aircraft, two of which will be deferred from fiscal 2013, five from fiscal 2014 and one per year in fiscal 2015-2018, to better balance air network capacity to demand. As a result of these deferrals, FedEx Express will place into service four 777s in fiscal 2013 and two in fiscal 2014. The company is also exercising two 777 options for aircraft to be delivered at the end of the delivery schedule.

On the financial side, FedEx Corporation reported net income of $497 million, up 76% from $283 million a year ago for its fiscal second quarter.

The corporation reported earnings of $1.57 per diluted share for the second quarter ended November 30. Last yearโ€™s second quarter earnings were $0.89 per diluted share, which included $0.27 per diluted share in costs related to the combination of the companyโ€™s FedEx Freight and FedEx National LTL operations and a reserve associated with a legal matter at FedEx Express. Excluding those one-time charges, earnings were $1.16 per diluted share a year ago.

Copyright Photo: TMK Photography.

FedEx Express Slide Show: CLICK HERE

Chinese Pandas touch down in Scotland on the โ€œFedEx Panda Expressโ€

FedEx Express (Memphis)ย today (December 4) announced the safe arrival of two giant pandas, Tian Tian (aka Sweetie), an eight year-old female panda, and Yang Guang (aka Sunshine), an eight year-old male panda from Chengduโ€™s Bifengxia Panda Base to Edinburgh International Airport in Scotland.

Working in conjunction with the Royal Zoological Society of Scotland (RZSS) and the China Wildlife Conservation Association (CWCA) in China, the specially-chartered Boeing 777F flight known as the โ€œFedEx Panda Expressโ€ landed in Scotland on December 4 at approximately 1 p.m. (1300) local time. The arrival of the pandas marks the first time in more than 17 years that giant pandas will reside in the UK.

The nonstop flight was chartered especially for the VIPsโ€”Very Important Pandasโ€”and the pair traveled in custom-built enclosures provided by FedEx Express. In-flight meals of bamboo, apples, carrots, a special panda cake and mineral water were served to the pandas, who spent the journey eating snacks and snoozing. Tian Tian and Yang Guang were accompanied by a veterinarian and two animal handlers from Edinburgh Zoo and the Bifengxia Panda Base to look after their needs throughout the journey.

FedEx Express donated its logistical services for the transportation, providing an expert team to ensure the rare animalsโ€™ safety. During the flight, the pandas were in the safe hands of seasoned management pilots, all of whom have extensive experience in transporting some of the worldโ€™s most precious cargo, ranging from white rhinos to penguins.

The pandas continued their journey in a specially-decaled FedEx Express vehicle to deliver them to their new home at Edinburgh Zoo. The Lothian and Borders Police Force were also on hand to ensure a smooth ride. Upon arrival, the pandas will reside together in Edinburgh Zooโ€™s specially-built giant panda enclosure.

FedEx Express has a long history of transporting rare and delicate cargo. In February 2010, FedEx Express transported Tai Shan, a male panda born at the National Zoo in Washington, D.C., U.S., and Mei Lan, a male panda born at Zoo Atlanta in Atlanta, Georgia, U.S., back to China. In 2003, FedEx Express transported two giant pandas from China to the Memphis Zoo in Memphis, Tennessee, U.S. In 2000, FedEx Express transported Tai Shanโ€™s parents from China to Washington, D.C.โ€™s National Zoo.

Exotic cargo transported by FedEx Express has included polar bears, white tigers, elephants, penguins, mountain lions, gorillas, eagles and even a 13-foot tiger shark used in filming the movie โ€œJawsโ€.

Copyright Photo: FedEx Express.ย The FedEx Panda Express, a specially-decaled Boeing 777-FS2 registered as N892FD (msn 38707), awaits departure from Chengdu, China for Edinburgh, Scotland with giant pandas Tian Tian and Yang Guang on board. N892FD is the second FedEx 777F to wear special Panda decals (the first was N850FD).

FedEx Slide Show: CLICK HERE

FedEx reports a $464 million net profit in the fiscal first quarter

FedEx Corporation (Memphis) reported earnings of $1.46 per diluted share for the fiscal first quarter ending on August 31, compared to $1.20 per diluted share a year ago, a year-over-year increase of 22%.

FedEx Corporation reported the following consolidated results for the first quarter:

โ€ข Revenue of $10.52 billion, up 11% from $9.46 billion the previous year.

โ€ข Operating income of $737 million, up 17% from $628 million last year.

โ€ข Operating margin of 7.0%, up from 6.6% the previous year.

โ€ข Net income of $464 million, up 22% from last yearโ€™s $380 million.

FedEx Slide Show: CLICK HERE

Copyright Photo: Brian McDonough.

FedEx considers an order for 50 new freighters, considers the Airbus A330-200F and the Boeing 767-300F

FedEx Express (Memphis) is considering an order for 50 new freighters and is considering both the Airbus A330-200F and the Boeing 767-300F according to this report by Reuters.

Read the full report: CLICK HERE

FedEx Slide Show: CLICK HERE

Copyright Photo: FedEx has been adding new Boeing 777F freighters. Please click on the photo for additional information.

FedEx donates $5 million and a MD-10 to ORBIS International

FedEx Corporation (Memphis) and ORBIS International, a leading global organization dedicated to saving sight worldwide, today kicked off a North American Good Will Tour in Los Angeles with the announcement of a new 5-year, $5.375 million commitment in the form of cash and in-kind contributions from FedEx. In addition, FedEx Express will donate an MD-10 cargo aircraft to ORBIS to be the third-generation Flying Eye Hospital. After Los Angeles, the Flying Eye Hospital will also visit Burlington, VT, Dallas Fort/Worth, Memphis, TN, and Toronto and Ottawa, Canada between August and November to raise public awareness of the need to eliminate avoidable blindness.

The new Flying Eye Hospital, the worldโ€™s only airplane with a fully functioning state-of-the-art eye hospital on board, will be built on an MD-10-30 freighter aircraft and will utilize a modular design concept. It is the first time such modular units have been designed for an aircraft, and building them presents an enormous engineering challenge to meet the demanding technical requirements for both aviation and medical certification. MMIC (Mobile Medical International Corporation) of St. Johnsbury, Vt. is under contract to design and manufacture the state-of-the-art modules which will be carried by the MD-10-30 freighter.

The Flying Eye Hospital is a unique tool that brings dedicated eye care professionals from across the world to developing countries to provide two to three weeks of training and state-of-the-art surgical demonstrations. ORBIS volunteer doctors impart to local doctors, nurses, biomedical engineers and technicians the skills necessary to provide high-quality eye care to their communities that will prevent and treat avoidable causes of blindness such as cataracts, glaucoma and diabetic retinopathy. Tragically, there are 39 million blind people worldwide; 80% of cases are preventable and treatable. Ninety percent of these people live in developing countries where there is a severe lack of proper medical care. Since 1982, ORBIS has conducted programs in more than 85 countries, impacting more than 15 million lives.

FedEx has supported ORBIS for 29 years, almost three decades, providing millions of dollars of support in cash and in-kind contributions. Todayโ€™s donation builds on a $5.5 million, five-year commitment that FedEx made to ORBIS in 2006. In addition, FedEx and its team members donate the unparalleled FedEx Express global network and aviation expertise to help the Flying Eye Hospital fly. FedEx Express pilots volunteer to fly the current ORBIS DC-10 to many of its medical programs and train other volunteer pilots; FedEx Express mechanics provide maintenance support; team members around the world volunteer as part of the ORBIS humanitarian team as interpreters, welcoming and escorting patients to and from their surgeries and checkups, canvassing neighborhoods and assisting with patient screenings. FedEx Express provides complimentary transportation services to move critically needed medical supplies to ORBIS clinics worldwide; makes the FedEx Express flight training simulator available to train volunteer pilots and manages the cost and performance of the annual safety checks for ORBISโ€™ flagship Flying Eye Hospital.

On Saturday, August 6, FedEx and ORBIS will celebrate their historic relationship with a FedEx Friends and Family Day. The event will feature a fun-filled day of activities for FedEx Express team members and their families, capped by ORBISโ€™ โ€œPull for Sight,โ€ where teams compete to be the fastest in a tug of war against the 227-ton Flying Eye Hospital. FedEx Express aircraft and privately-owned WWII aircraft will also be on display.

FedEx Slide Show: CLICK HERE

Copyright Photo: TMK Photography.

FedEx Corporation reports higher fiscal fourth quarter earnings, $1.5 billion net profit for the year

FedEx Corporation (Memphis) reported earnings of $1.75 per diluted share for the fourth quarter ended May 31, compared to $1.33 per diluted share a year ago, a year-over-year increase of 32%.

FedEx Corporation reported the following consolidated results for the fiscal fourth quarter:

Revenue of $10.55 billion, up 12% from $9.43 billion the previous year

Operating income of $888 million, up 28% from $696 million last year

Operating margin of 8.4%, up from 7.4% the previous year

Net income of $558 million, up 33% from last year’s $419 million

Revenue and earnings increased due to continued strong yield improvement in all transportation segments and volume growth of ground and international express shipments. FedEx Freight’s return to profitability also improved operating results.

FedEx Corp. reported the following consolidated results for the full fiscal year:

Revenue of $39.3 billion, up 13% from $34.7 billion the previous year

Operating income of $2.38 billion, up 19% from $2.00 billion last year

Net income of $1.45 billion, up 23% from last year’s $1.18 billion

Adjusted earnings per share of $4.90, up from $3.76 per share a year ago.

FedEx Express Slide Show: CLICK HERE

Copyright Photo: Brian McDonough. Please click on the photo for information about this special one-time logojet.

FedEx Corporation reports a fiscal 3Q net profit of $231 million

FedEx Corporation (Memphis) reported earnings of $0.73 per diluted share for the fiscal third quarter ended on February 28, 2011. Excluding costs related to the previously announced combination of the company’s FedEx Freight and FedEx National LTL operations, third quarter earnings were $0.81 per diluted share, compared to $0.76 per diluted share a year ago.

The corporation reported net income of $231 million, down 3% from $239 million a year ago.

According to the company, FedEx projects earnings to be $1.66 to $1.83 per diluted share in the fourth quarter and an adjusted $4.83 to $5.00 per diluted share for fiscal 2011. The company’s forecast assumes the current market outlook for fuel prices and continued moderate growth in the global economy. Earnings could be affected by the impact of the ongoing political turmoil in the Middle East and North Africa on fuel prices and the economy. Also, the near-term impact of the earthquake and tsunami in Japan on operational costs, shipping patterns and the global economy is currently uncertain. The annual guidance excludes FedEx Freight combination costs and a second quarter legal reserve. Including costs from the FedEx Freight combination and the legal reserve, earnings are expected to be $4.49 to $4.66 per diluted share for fiscal 2011. The company reported earnings of $1.33 per diluted share in last year’s fourth quarter. The capital spending forecast for fiscal 2011 remains $3.5 billion.

Copyright Photo: Brian McDonough. Please click on the photo for the details concerning this unique logojet.

FedEx Corporation reports a 3Q net profit of $283 million

FedEx Corporation (Memphis) reported earnings of $0.89 per diluted share for the second quarter ended November 30. Excluding certain charges described below, second quarter earnings were $1.16 per diluted share, compared to $1.10 per diluted share a year ago.

Reported results for the current quarter include costs related to the previously announced combination of the companyโ€™s FedEx Freight and FedEx National LTL operations and a reserve associated with a legal matter at FedEx Express, which together negatively impacted earnings by a net $0.27 per diluted share. Last yearโ€™s second quarter results included a benefit from plan design changes to a self-insurance program at FedEx Express, which increased earnings by a net $0.05 per diluted share.

The corporation reported net income of $283 million, down 18% from $345 million a year ago.

Copyright Photo: Brian McDonough. Please click on photo for additional information.

FedEx opens a new Cologne/Bonn cargo hub

FedEx Express,ย a subsidiary of the FedEx Corporation (Memphis)ย joined with Cologne-Bonn Airport in Germany today (October 27) to inaugurate the new FedEx Central and Eastern Europe hub.

The Cologne hub is the second FedEx Express hub to be solar-powered and the fifth solar facility in operation within FedEx Corporation.

The hub in Cologne is one of the most modern FedEx hubs in the world. Its fully-automated sorting system can process up to 18,000 packages and documents per hour. The roof features the largest FedEx Express solar power installation worldwide and represents one of the largest rooftop solar installations in North Rhine-Westphalia, with an area of 16,000 square meters, producing about 800,000 kilowatt hours per year.