Fedex Cuts Asian Air Freight

Despite a slight uptick in global cargo demand Fedex is to cut flights to Asia as it presses ahead with a $1.7bn restructuring. The company, whose 3Q result and full-year forecast fell short of analyst estimates, has reported a shift away from air freight to cheaper, slower forms of transportation. It will thus redirect capacity towards ground and sea freight after slimming down its US-Asia air freight network.

TAGS: Asia
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