Tentative agreement reached:
Friday December 18, 9:09 am Eastern Time
Company Press Release
FedEx And the Fedex Pilots Association Reach Agreement
Agreement is Subject to Ratification by the Fedex Pilots Association Membership
MEMPHIS, Tenn.--(BUSINESS WIRE)--Dec. 18, 1998--Federal Express Corp. (NYSE:FDX - news; FedEx) and the Fedex Pilots Association (FPA) announced today that the union and the company negotiators have reached an agreement that will be presented to the union board of directors and its membership for ratification.
''This agreement places the FedEx pilots in the upper echelon of the airline industry and is a win for both FedEx and the FPA,'' said Theodore L. Weise, president and chief executive officer of FedEx. ''It also confirms that our pilots are committed in providing our customers the outstanding service that has made FedEx the express industry leader.''
Federal Express, a subsidiary of FDX Corp., connects areas that generate 90% of the world's gross domestic product in 24-48 hours with door-to-door, customs-cleared service and a money-back guarantee. The company's unmatched air route authorities and infrastructure make it the world's largest express transportation company, providing fast, reliable and time-definite transportation of more than 3 million items to 211 countries each working day. FedEx employs more than 145,000 employees and has more than 44,400 drop-off locations, 624 aircraft and 42,800 vehicles in its integrated global network. The company maintains electronic connections with more than a million customers via FedEx Powership®, FedEx Ship® and FedEx interNetShip®. Federal Express reported revenues of $13.3 billion for its fiscal year ended May 31, 1998.
FDX Corp., a $16 billion holding company, provides comprehensive transportation, logistics, and supply chain management solutions on a worldwide scale. FDX Corp.'s other primary operating subsidiaries are RPS Inc., a business-to-business ground package carrier; Roberts Express Inc., a critical-shipment carrier; Viking Freight Inc., a
less-than-truckload carrier operating principally in the western United States; and FDX Global Logistics, a contract logistics provider.
NOTE TO EDITORS: Federal Express press releases are available on the World Wide Web at fedex.com. |
