FedEx Express Launches Best-in-Class Connectivity Between Hong Kong and Europe

Paris, France April 12, 2010 – FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX), and the world’s largest express transportation company, has launched an important new connection between Asia and Europe, with a direct roundtrip flight operating five days a week between Hong Kong and Paris—the first provider to offer a next-business-day service from Hong Kong to Europe.

The rate of growth in Europe-Asia container traffic has increased recently and westbound shipments from Asia to Europe have risen nearly 11 percent in January compared to a year ago* highlighting the importance of the trading lane for businesses in the region. In fact, the Asia-to-Europe air cargo market is expected to expand at an average annual rate of 6.5 percent in the next two decades, representing immense growth potential for the industry**.

As the largest and fastest growing intercontinental cargo lane, the launch of this new direct route provides an unmatched value proposition from Asia to Europe,” said Robert W. Elliott, president, FedEx Express Europe, Middle East, Indian Subcontinent and Africa. “This additional flight supports FedEx international growth strategy to improve its service offerings as well as to enhance the overall competitiveness and efficiency of its international network.

The new flight is FedEx third intercontinental lane from EMEA to Asia, joining existing connections from Paris via Delhi to Shanghai, and from Paris to the FedEx Guangzhou hub in China. FedEx customers importing from Hong-Kong to Europe can now enjoy overnight delivery to key cities in major European markets—including Austria, Belgium, Denmark, France, Germany, Great Britain, Hungary, Ireland, Italy, The Netherlands, Portugal, Spain, Sweden and Switzerland. This service represents a one-business-day improvement in transit time on FedEx International Priority® and FedEx International Priority Freight® shipments*** to Europe.

The service enhancement is part of an ongoing focus by FedEx to strengthen the trade lane between Asia and Europe. Enhancements by FedEx for the Asia-Europe segment started in March 2005 with the launch of the air cargo industry’s first express direct flight from mainland China to Europe. It was followed in September 2005 by a second flight doubling the capacity between Europe and Asia, with a stop in Delhi making it the first overnight express daily flight between India and China. In February 2009, FedEx opened its Asia Pacific hub in Guangzhou, which represents its long-term commitment to providing better services and access to businesses in Asia.

FedEx is committed to providing customers with greater access to markets and opportunities, as businesses in Hong Kong and in the Asia Pacific region start to emerge from the global economic downturn,” said David L. Cunningham Jr., president, Asia Pacific, FedEx Express. “This service enhancement will strengthen FedEx overall network connectivity and operations, positioning the company for long term growth.

*European Liner Affairs Association.

**Boeing World Air Cargo Forecast, 2008-2009

***Except shipments with declared value over 22 euros to Germany, Great Britain, Italy and shipments picked up on Friday and Saturday

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