FedEx shares shoot up 14% with optimism on earnings call
The company returned nearly $4 billion to stockholders as it met its goal to trim $1.8 billion in operating expenses, including $500 million in the Express division.
The company returned nearly $4 billion to stockholders as it met its goal to trim $1.8 billion in operating expenses, including $500 million in the Express division.
A parent who dropped a son off last week for a flight to boot camp was grateful for officer Craig Elliott’s pep talk, and typed it all out in an email to airport authorities.
The cuts are expected to generate $125 million to $175 million in savings, which the company expects to see in two years.
The wounding of a rideshare driver during an attempted carjacking at the Memphis International Airport early Monday, June 10, has made waves in the local ride-sourcing community.
Flattening a network built over decades for two different lanes of traffic means FedEx almost certainly will close hubs and sell real estate.
Cox was one of only five people who have led the Memphis-Shelby County Airport Authority since its formation in 1969. At 29 years, his tenure was the longest, by far.
Verna Mae Jackson was hit and pinned by a 2,500-pound dolly Nov. 29, 2023, and pronounced dead at Regional One. Co-workers told investigators she sometimes walked between dollies, which is against company policy.
Memphis-based FedEx will transport the giant pandas from China to Washington by the end of the year via a FedEx Express Boeing 777-Freighter, known as the FedEx Panda Express.
Kubotans, pepper spray and a host of other self-defense gadgetry will get you flagged at the airport security checkpoint.
More than 10,000 people a day are expected to go through the TSA security checkpoint on Thursday and Friday.
Expiring COVID-19 pandemic grants and inflation force higher costs on airlines, but ticket prices aren’t expected to rise.
The aviation operations tech program at Southwest Tennessee Community College is an associate degree designed to usher a new generation into the skies — for less tuition and time than the traditional four-year path.
Much of the art is for sale; it will hang in baggage-claim area for one year.
The plane, a Boeing 767, bumped in on the underside of its nose after the back wheels touched down.
Last fall, a FedEx official told supervisory-level pilots that he expected losing the postal contract would eliminate half the company’s daytime flying hours. That means FedEx could have 200 to 300 excess pilots by October.
The weekly flight will leave Sunday mornings for 2 months, starting May 19.
The separate I-55-Crump Boulevard roundabout currently under construction just east of the old Memphis-Arkansas Bridge got a lot of attention at the first public hearing on the new bridge, planned for just south of the existing one.
The quarterly meetups will include expert guest speakers or panelists discussing the uses of AI in work and other settings.
FedEx’s pilots union said the change will diminish FedEx’s competitive advantage, but the logistics giant said it will improve profitability as soon as the 2025 fiscal year.
Rob Carter’s contributions at FedEx are a large portfolio of innovation for a company that would be a fraction of itself without web interface, cloud-based computing and automated sorting.
Passenger counts were up 19.2% in 2023, a record year at Memphis International Airport, and there’s talk of possible new flights (think Raleigh-Durham, perhaps San Francisco).
“And when we saw this idea ... we really loved it, because we think it really humanizes our couriers,” said Katherine Flee, head of global sponsorships and advertising.
FedEx is not commenting on the size of the layoffs, but necessity did not make the week any easier, CEO and president Raj Subramaniam said in a memo to staff shortly before the earnings release Thursday.
FedEx had another rocky quarter in an economy that continues to force downward pressure on its network. This time, the company showed gains against stubborn headwinds by the stint of its own cost-cutting.
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