FedEx says ‘no decision yet’ to move Asia Pacific hub to China’s Guangzhou
FedEx Express, a subsidiary of Fedex Corp (NYSE FDX), said it has made ‘no decision yet’ on whether to move its Asia Pacific hub to the southern Chinese city of Guangzhou from Subic Bay in the Philippines.
FedEx said in a statement that it is still pondering various options and has yet to finalize its development plans in the Asia Pacific, despite a local media report that it had decided to move its Asia Pacific hub to Guangzhou.
FedEx initially agreed in December 2003 to assess potential opportunities in Guangzhou’s new Baiyun International Airport, which is one of China’s largest airports.
It also extended the lease at its existing regional hub in Subic Bay, which was due to expire in 2007, for another three years last May and listed Diosdado Macapagal airport in the Philippines as another candidate for its new hub.
FedEx’s rival, United Parcel Service Inc (NYSE UPS), announced in last July its ambition to be the first US airline to set up a hub on the mainland by 2007.
The facility, to be located in Shanghai, will be UPS’ fifth in the region following Hong Kong, Singapore, the Philippines and Taipei.
