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About FedEx
FedEx Archives: 1997 Press Releases
( BW)(FEDERAL-EXPRESS-CORP)(FDX) Federal Express Expects No Immediate Impact from FAA ProposalBusiness Editors MEMPHIS, Tenn.--(BUSINESS WIRE)--July 15, 1997--Federal Express Corp. expects no material financial impact during its current 1998 fiscal year as a result of a proposed airworthiness directive issued concerning B727 aircraft yesterday by the Federal Aviation Administration (FAA). "We've been discussing this matter with the FAA since late last year, and we've expected the proposed rule," said Gilbert D. Mook, senior vice president, air operations. "We're confident we can operate our aircraft within current load limits either by modifications or by further demonstrating the safety of the aircraft to the FAA. It will be business as usual for FedEx operations until the FAA issues a final directive no earlier than Oct. 1." More than 90 percent of the cargo containers FedEx currently uses on these aircraft weigh less than the limits the FAA has proposed. The vast majority of the company's containers currently meet the weight requirements of the FAA limits, though FedEx will seek approval for smaller "demi" containers which the FAA has not addressed in the proposal. "The high-value goods we carry tend to weigh much less than traditional freight carried by other cargo carriers, therefore we expect to be able to manage any impact of the proposed weight limits," said Mook. "In the meantime, we'll continue our discussions with the FAA." Federal Express is the world's largest express transportation company providing fast and reliable services for more than 2.8 million items to 212 countries each working day. The company employs approximately 130,000 people, has nearly 43,000 drop-off locations, and operates more than 580 aircraft and 38,000 vehicles in its integrated global network. FedEx maintains electronic connections with more than 650,000 users via FedEx Powership(R), FedEx Ship(R) and FedEx interNetShip(SM). Federal Express reported revenues of $11.5 billion for its fiscal year ended May 31, 1997. -0- NOTE TO EDITORS: Federal Express press releases are available on the World Wide Web at http://www.fedex.com --30--EB/na* CONTACT: Federal Express Corp., Memphis William G. Margaritis, 901/395-3490 Gregory M. Rossiter, 901/395-4440 Darlene Faquin, 901/395-5406 KEYWORD: TENNESSEE INDUSTRY KEYWORD: TRANSPORTATION URL: http://www.fedex.com Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: http://www.businesswire.com |
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