More FedEx flights to China and rising travel demand likely to keep lid on airline losses, IATA says
FedEx Express has been granted permission by the U.S. Department of Transportation to start additional weekly flights to China, bringing its total to 30, The Associated Press reported from Memphis, Tennessee.
The additions, which will go into effect next March, will allow FedEx Express to operate more all-cargo flights to and from China than any other U.S. airline, the company said Wednesday.
FedEx this year announced a USD400 million agreement to bolster its presence throughout Asia by taking full control of a 50 percent joint venture begun in 1999 with Tianjin Datian W. Group.
The joint venture handles international package shipments to and from China, and FedEx’s partner, which goes by the name DTW Group, also operates a domestic delivery network with 89 locations in cities across China.
FedEx said it hoped to complete the acquisition during its 2007 fiscal year, which began in June. The operation will become part of FedEx Express, the company said.
