FedEx Announces New Around the World Flight Directly connecting India to More of Asia
Absolutely, Positively the first Express carrier to offer next day delivery from India to Shanghai and Tokyo
New Delhi, Sept. 7, 2005 –FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and the world’s largest express transportation company, today announced a new eastbound around-the-world flight providing the industry’s first direct next-day connection between India and China and Japan and offering the largest cargo capacity available between these dynamic markets.
The flight connecting the U.S., Europe, India, China and Japan before returning to the U.S. will provide unprecedented access to and from the world’s fast- growing markets of China and India and doubles FedEx cargo capacity from Europe to Asia. With the introduction of this new flight, FedEx now operates three daily flights from Europe to India and the Far East. That is more than any other cargo carrier.
“China is India’s second largest trading partner and it is anticipated that the value of trade between the two countries will surpass $20 billion in three years’ time,” says Jacques Creeten, Managing Director Sales & Marketing, Middle East, Indian Subcontinent & Africa, FedEx Express. “We have always responded first to the needs of Indian exporters by offering this new service which will facilitate trade between the two Asian giants that are poised to re-shape the world economic order.”
In addition to overnight delivery to China and Japan, the flight also offers one-day transit time improvement for inbound shipments from US and Europe to the export hubs located in North India. In the Delhi and NCR regions this includes: Varanasi, Lucknow, Moradabad; Agra in Uttar Pradesh; Jalandhar, Amritsar, Chandigarh and Ludhiana in Punjab; and Jaipur and Udaipur in Rajasthan.
India and China have an escalating trade relationship that includes textiles, chemicals, pharmaceuticals, aluminum, iron ore and ferrous metals. In 2004, India trade with China reached US $13.8 billion in 2004 and is expected to reach US $20 billion in 2008.
The new flight further reinforces the leadership position of FedEx in India and China. FedEx has more flights in and out of India and China than any other U.S. international air express carrier — operating 11 weekly flights in India and 23 weekly flights in China, with authority to operate an additional three weekly flights beginning March 2006. This eastbound route includes a direct point-to-point connection between Shanghai (China) and Narita (Japan), extending cut-off times for cities in eastern China by up to one day.
--End--
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 $29 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 250,000 employees and contractors to remain "absolutely, positively" focused on safety, the highest ethical and professional standards and the needs of their customers and communities. For more information, visit fedex.com.
About FedEx Express
FedEx Express, a subsidiary of FedEx Corp., connects areas that generate 90 percent of the world’s gross domestic product in one to three business days 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 approximately 3.2 million packages to more than 220 countries and territories each working day. FedEx Express employs more than 138,000 employees and has approximately 50,000 drop-off locations, 671 aircraft and approximately 41,000 motorized vehicles in its integrated global network