FedEx Corp is pulling capacity as the ongoing downturn hits its global express business, with the US-based carrier announcing in a notice to the Securities and Exchange Commission earlier this week that it will remove 10 Airbus A310-200s, four Boeing MD10-10s from service between now and the end of the quarter ending May 31. "This decision reflects management's ongoing efforts to optimise the company's express network in light of continued excess aircraft capacity due to weak economic conditions … [Read more...] about FedEx pulls 14 aircraft from service
FedEx
1,000 more FedEx employees lose jobs
FedEx has cut 1,000 jobs worldwide in an attempt to save more than US$1 billion in costs as the global economy flattens freight volumes. The cuts are in addition to earlier layoffs of 900 people from FedEx Freight in February. FedEx employs approximately 290,000 people worldwide. In March, FedEx reported that third quarter profits fell 75 per cent to US$97 million. The company announced plans for job cuts and to reduce capacity and cut salaries of top executives at that time. … [Read more...] about 1,000 more FedEx employees lose jobs
MD-11 crash raises history of problems
The FedEx MD-11 aircraft that slammed into the runway and burst into flames Monday morning while landing at Tokyo's Narita International Airport during windy conditions has raised the issue of the aircraft's overly sensitive flight-control systems and reputation for being difficult to control during rough landings. Airline-related blogs have been full of discussions of the hard-landing that ultimately culminated in the total loss of the aircraft and death of both pilots. Shocking video footage … [Read more...] about MD-11 crash raises history of problems
Narita airport reopens main runway
Tokyo's Narita international airport reopened its main runway Tuesday, freeing up desperately needed capacity at Japan's busiest international airport a day after a FedEx cargo plane crashed in a ball of fire, killing two US pilots. Workers overnight cleared the charred wreckage of the MD-11 from the crash site near the 4,000-metre Runway A, which usually handles more than 350 flights a day. The runway, the longer of two at Narita International Airport was reopened shortly after 9 am (0010 GMT) … [Read more...] about Narita airport reopens main runway
FedEx MD-11 crashes while landing at Narita
A FedEx cargo aircraft en route from China has crashed this morning while attempting to land at Tokyo’s Narita airport in strong winds, bursting into flames and killing two pilots on board. The FedEx MD-11 was coming from Guangzhou, China, and crashed at 6:49 AM local time, according to the Japanese transport ministry. Television footage showed the three-engine wide-body aircraft tip sideways shortly after touch-down in strong winds and then, as one of its wings clipped the ground at … [Read more...] about FedEx MD-11 crashes while landing at Narita
FedEx says global recession bottomed out
"We have probably hit the bottom," said industry stalwart Fred Smith, chairman, president and CEO of FedEx Corporation while announcing the global express company's latest quarterly earnings last week. FedEx's overall group revenue for the quarter ended 28 February was down 14 per cent year-on-year to US$8.14 billion while operating income fell 72 per cent to US$182 million, whilst net income also fell by nearly 72 per cent to US$97 million. … [Read more...] about FedEx says global recession bottomed out
