FedEx Express Announces Transit Time Improvements Between U.S. and Middle East
Brussels, April 06, 2011—FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and the world’s largest express transportation company, today announced the launch of a new intercontinental flight route which will provide significant service improvements for customers shipping among the U.S., Middle East, India and Europe. The new Boeing 777F flight will provide businesses with the best U.S. – Middle East connectivity as well as unbeatable transit times, additional capacity and best-in-class customs clearance operations.
Trade between the U.S. and the Middle East and North Africa (MENA) region totalled more than $127 billion last year with economic indices forecasting growth in the MENA region to be 3.6% in 2011.[i]
As of March 30, 2011, with this new flight providing a one-business-day service improvement, FedEx Express will offer the fastest service from the U.S., Canada and select markets in Latin America to the UAE, Afghanistan, Lebanon and Bahrain and improved clearance operations into other regional markets. This will also provide additional capacity from India and between the Asia Pacific and EMEA region, providing untapped business opportunities for companies of all shapes and sizes.
“As the global economy becomes even more complex and intertwined, the markets of the Middle East region are some of the fastest growing, coming out of the recession stronger than anticipated,” said Gerald P. Leary, president, FedEx Express Europe, Middle East, Indian Subcontinent and Africa (EMEA). “This transit time enhancement will open up exciting growth opportunities for our customers and all businesses in the region wanting to sell and source their products in the U.S. and in other markets around the globe.”
The new Boeing 777F is the world’s largest twin-engine cargo aircraft, which delivers operational efficiencies as well as greater fuel efficiency and lower carbon emissions. FedEx Express is the first U.S.-based, global, all-cargo airline to add the B777F to its fleet and has taken delivery of 12 B777s and has 32 remaining on order, for a total of 44 B777Fs anticipated by the end of fiscal 2019. This is part of the FedEx commitment to environmental sustainability and will help the company move closer to its goal of reducing fuel emissions by 20 percent by the year 2020.
Today’s announcement is one in a series of flight enhancements introduced by FedEx Express in EMEA to support increasing customer demand by adding capacity for key markets. Earlier this year, the company launched five weekly direct flights between China and India to strengthen the burgeoning trade lane between India and Asia. The company also launched a new connection between Europe and Asia in 2010 with a direct round-trip flight between Paris and Hong Kong – one of the highest-yielding trade lanes for FedEx Express.
Boeing 777F Background
The 777F is the world’s largest twin-engine cargo aircraft. In typical FedEx operations, the 777 Freighter has a revenue payload capacity of 178,000 pounds (81 metric tons), and can fly 5,800 nautical miles—the equivalent of about 6,675 land miles or just over three times the approximate length of India. This represents a payload improvement of 14,000 pounds and range improvement of 2,100 nautical miles over the MD-11, which had been the primary long-haul aircraft in the company’s fleet. Over shorter ranges, the 777F has the capability of payloads up to 215,000 pounds.
The International Trade Administration (ITA) - http://trade.gov/press/press-releases/2010/commercial-engagement-in-middle-east-is-key-to-export-growth-060110.asp)