FEDEX EXPRESS GETS $101 MILLION IN FEDERAL AID FUNDS
FedEx Express, a subsidiary of FedEx Corp., said that it has received $101 million from the U.S. Government under the Air Transportation Safety and System Stabilization Act.
“This payment compensates FedEx for a portion of its direct losses incurred beginning on Sept. 11, 2001 resulting from the grounding of the FedEx Express aircraft fleet, as well as for related subsequent losses expected to be incurred through Dec. 31, 2001,” FedEx said.
Additional payments are expected before the end of the calendar year.