Under the Radar: FedEx on air cargo demand post-pandemic; Removing 29 aircraft from fleet

Today we’re going to talk about one of the world’s largest express transportation companies. Our guest for today is from FedEx, a company that was founded by Frederick W Smith as the Federal Express Corporation in 1971. And here’s a fun fact about the company’s name.The word “federal” suggested an interest in nationwide economic activity in the US and was meant to resonate with the US Federal Reserve Bank, which is a potential customer for the logistics player. But back to FedEx’s business, the firm recently reported fourth quarter earnings of US$4.94 per share, better than the analyst estimate of US$4.86. Still, revenue came in below expectations. More recently, FedEx is also streamlining its air courier business by removing 29 aircrafts from its fleet to make its logistics network more flexible amid slowing global trade activities in the current economic climate. So how will such efforts aid FedEx in becoming leaner and more competitive against industry peers and what is the road ahead for the firm? On Under the Radar, Drive Time’s finance presenter Chua Tian Tian sat down with Audrey Cheong, Vice President, Southeast Asia Operations, FedEx for more. Download the podcast here: https://www.moneyfm893.sg/guest/audrey-cheong-fedex/ For more, tune in to #DriveTime with Elliott Danker, Timothy Go and Chua Tian Tian every weekday from 4pm-7pm. Tune in to MONEY FM 89.3 via the Awedio app today! Available on the App Store, Google Play and more. -- Connect with Us! Telegram: MONEY FM 89.3 Facebook: MONEY FM 89.3 Instagram: @moneyfm893 Twitter: @moneyfm893 LinkedIn: MONEY FM 89.3 -- Contact us: MONEY FM 89.3 Headquarters: +65 6319 1900 Live Studio: +65 6691 1893 SMS/WhatsApp MONEY FM 89.3: +65 8855 0893 Mailing Address: SPH Radio Pte Ltd 1000 Toa Payoh North News Centre Singapore, Singapore: 318994