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Non-Tech : FedEx (FDX) -- Ignore unavailable to you. Want to Upgrade?

To: Darryl Olson who wrote (417)	9/16/1999 8:29:00 AM
From: JakeStraw	Respond to of 524

FedEx to launch Paris hub, boost services Sept 27 LONDON, Sept 16 (Reuters) - FDX Corp (NYSE:FDX - news) unit Federal Express said on Thursday it will detail service enhancements for continental European, UK and Irish customers when it formally opens its new European hub in Paris on September 27. The new ''superhub'' at Charles de Gaulle airport represents the largest FedEx investment outside the United States, the express carrier said in a press invitation. Situated at the centre of FedEx's European network, the $200 million hub also provides access to its worldwide network under an ''open skies'' agreement with France, and for its DC-10 and MD-11 freighter flights to North America and Asia. The 69,000 square metre hub began operations on September 6, a FedEx spokeswoman in Paris said. Extra traffic is expected to be generated by the opening as FedEx eyes more flights to and from Paris, including business involving its hubs in the Gulf, Bombay and Subic Bay in the Philippines, industry sources said. The same day will see the official opening of its extended facilities at Frankfurt airport, described by FedEx as providing its second European hub. Industry sources said the two hubs are seen helping to boost the U.S. company's position in the e-commerce sector for both business-to-business and retail shipments and deliveries. The Paris hub's opening will be preceded by a meeting of both the board of FDX Corp -- the parent company of the express carrier -- and its shareholders. During the meeting, former Netscape President James L. Barksdale will be nominated to the FDX board, further underlining the express carrier's committment to e-commerce, the sources said. The Paris hub, co-financed by FedEx and the Aeroports de Paris, will initially handle 24,000 packages an hour. By 2006 it will handle 60,000 packages an hour and employ 2,000 staff. Under a deal reached with France's defence ministry in July, FedEx also said it will employ 1,000 to 1,200 ex-servicmen in the new hub over a five-year period. It will have parking space for 25 aircraft by 2006 compared to six aircraft at its current site.