FedEx Extends Express Air Transportation Contract With United States Postal Service
February 23 2017 - 8:00AM
Business Wire
FedEx Corp. (NYSE: FDX) today announced that its FedEx Express
subsidiary has entered into an extension to the express air
transportation contract with the United States Postal Service
originally executed on April 23, 2013. The contract modification
extends the agreement through September 29, 2024.
The modified contract is expected to generate revenue of
approximately $1.5 billion per year for FedEx Express. FedEx
Express will provide airport-to-airport transportation of USPS
Priority Mail Express and Priority Mail within the United
States.
“We are pleased to be able to extend this agreement and to
continue the outstanding service that FedEx Express has provided to
the USPS for more than 16 years,” said David J. Bronczek, president
and chief operating officer of FedEx Corporation. “This contract
provides USPS with the operational reliability and flexibility they
have come to expect from FedEx.”
About FedEx Corp.
FedEx Corp. (NYSE: FDX) provides customers and businesses
worldwide with a broad portfolio of transportation, e-commerce and
business services. With annual revenues of $58 billion, the company
offers integrated business applications through operating companies
competing collectively and managed collaboratively, under the
respected FedEx brand. Consistently ranked among the world’s most
admired and trusted employers, FedEx inspires its more than 400,000
team members to remain “absolutely, positively” focused on safety,
the highest ethical and professional standards and the needs of
their customers and communities. To learn more about how FedEx
connects people and possibilities around the world, please visit
about.fedex.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170223005771/en/
FedEx Corp.Patrick Fitzgerald,
901-818-7300patrick.fitzgerald@fedex.com
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