US express delivery firms biggest winners from China aviation deal
The biggest beneficiaries from the further opening of US-China aviation are likely to be US express delivery firms such as United Parcel Service Inc and FedEx, the Wall Street Journal reported, citing industry sources.
A FedEx Corp executive was quoted as saying that the agreement will bring his company ‘virtually unfettered access’ to China beginning in 2011, the newspaper reported.
China’s market for express delivery is expanding by an average 28 pct a year – the fastest in Asia. The market, valued at 4.4 bln USD last year, will grow to 5.8 bln in 2007.
Under a pact agreed to on Wednesday, US and China agreed to begin talks in 2010 on an ‘open skies’ agreement.
