Fedex planning European expansion
NEW YORK, Sept 23 (Reuters) - Federal Express Corp., the world's largest air express shipping service, plans to launch an expanded schedule of intra-European cargo flights next week, the Wall Street Journal reported in Thursday's online edition.
The paper said FDX Corp, which shut down much of its European delivery business in the early 1990s, is also planning a new intra-European overnight delivery service called Euro One as part of a major European expansion.
The Journal said the Memphis, Tennessee company will simultaneously open a $200-million regional air hub in Paris, and plans to continue adding flights and bigger airplanes over the next year.
Over the next year, the changes could more than double the size of FedEx's network in Europe, the paper said.
''Our steps here are financially prudent, and the returns are going to be excellent,'' Alan Graf, FDX's chief financial officer told the paper. ''I am absolutely convinced that that will be the case.'' |
