Postal Service dumps FedEx for UPS as primary air cargo carrier as it looks to slash $3 billion in costs [Fortune]
FedEx Corporation (FDX)
Last fedex corporation earnings: 3/17 04:03 pm
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Source: Fortune
The Atlanta shipping company said Monday that it had received an air cargo contract from the U.S. Postal Service that significantly expands an existing partnership between the two. UPS will move the majority of air cargo in the U.S. for the postal service following a transition period, according to UPS. Financial terms of the deal were not disclosed. USPS's current air cargo contract with FedEx Corp. is set to expire in late September. FedEx said in a regulatory filing that it wasn't able to reach an agreement on mutually beneficial terms to extend its contract with USPS. The company said that negotiations ended on Friday, after extensive talks. FedEx Express will continue to provide air transportation services domestically and to Puerto Rico until the contract expires on Sept. 29. During FedEx's third-quarter conference call on March 21, Chief Customer Officer Brie Carere said that the company had provided its services to USPS for more than two decades and that the two s
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FDX
Earnings
- 3/21/24 - Beat
FDX
Sec Filings
- 4/26/24 - Form 8-K/A
- 4/9/24 - Form 4
- 4/9/24 - Form 144
- FDX's page on the SEC website