FedEx restructures fleet under US Postal Service contract
To take advantage of the expiration of a long-term contract with the U.S. Postal Service, FedEx is making a major shift in its global air cargo strategy. The shift was highlighted in the company's latest earnings briefing, Yahoo Finance sources reported. FedEx Chief Customer Officer Brie Carere emphasized the need to disrupt the fragmented and outdated air cargo market, which the company now believes is ripe for growth potential. Also Read: FedEx Restructures – Technology and People Challenges Prove to Intract FedEx has reportedly adjusted its operations to reduce U.S. domestic flight hours by 24% in the second quarter of its fiscal year as the Postal Service contract moves to UPS. This is consistent with IndexBox data, showing a global trend towards optimizing logistics operations. FedEx's revenue edged down 1% to $22 billion, while adjusted operating income fell 3% in the same period. An important part of FedEx's strategy involves implementing a color-coded simplification of its air network, known as…
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