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2002 Press Releases
Latest effort to strengthen service in growing Asia- Europe air cargo lane
HONG KONG, September 23, 2002 - FedEx Express, the world's largest express transportation company, today announced plans to strengthen its service offering between the Asia Pacific and Europe.
The westbound flight directly connects FedEx's AsiaOne hub in Subic Bay, the Philippines to its EuroOne hub in Charles de Gaulle (CDG) Paris, via Bombay and Dubai. Beginning MD-11 service in September, capacity has been expanded by 100,000 pounds.
The new service will benefit multiple markets in both the Asia Pacific and Europe. Businesses in both Asia and Europe, which depend on speed to compete in the market, will benefit from these system improvements. Significantly, the increased capacity will enhance FedEx's capabilities for shipments of all shapes and sizes between Asia and Europe. Effectively, FedEx will be able to handle heavyweight shipments with the same speed and reliability as it does documents.
This infrastructure improvement is made possible by the strategic re-engineering of FedEx flight schedules without adding aircraft to its fleet. The service enables FedEx to offer later cut-off times for shipments to Western Europe, and earlier flight arrivals at CDG by four hours, providing more extensive connectivity to various European destinations for Asian shippers.
"FedEx's enhanced Asia to Europe connection reflects the dynamism of the two regions and is a direct result of FedEx meeting and exceeding customers’ needs. Operating a MD-11 aircraft will allow us the capacity to meet the growing demand of the express transportation market," said Mr. David L. Cunningham Jr, President of FedEx, Asia Pacific.
"Express transportation has become the engine that drives global trade, enabling businesses to source and sell high-value goods in markets around the world," continued Mr. Cunningham. "Following the successful establishment of our Paris hub in September 1999, FedEx is able to provide extensive coverage to over 130 countries in Europe, the Middle East and Africa. We continue to strengthen networks between Asia and Europe, because of the growth prospects that these regions represent."
According to DRI World Economic Outlook (August 2002), exports in Asia and Europe account for US$4,390 billion of annual trade, which is almost 75 percent of total worldwide exports value. This is a perfect example of how companies operating in, and doing business with Asia and the EU are evolving.
With annual revenues of $21 billion, FedEx Corp. is the premier global provider of transportation, e-commerce and supply chain management services. The company offers integrated business solutions through a network of subsidiaries operating independently, including: FedEx Express, the world's largest express transportation company; FedEx Ground, North America's second largest provider of small-package ground delivery service; FedEx Freight, the largest U.S. provider of regional less-than-truckload freight services; FedEx Custom Critical, North America's largest provider of expedited time-critical shipments; and FedEx Trade Networks, a provider of customs clearance, international freight forwarding and trade facilitation.
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