FedEx Express gets bigger share of U.S. China air market
FedEx Corp. Friday said its largest subsidiary, FedEx Express, will now have rights to operate three additional weekly frequencies to China, bringing its total to 26.
With the new frequencies, awarded by the U.S. Dept. of Transportation, FedEx Express will maintain its leadership position with more all-cargo flights to and from China than any other U.S. cargo airline.
'FedEx saw the promise in China more than 20 years ago,' said Michael L. Ducker, executive vice president, international for FedEx Express, in a statement. 'China’s role in the global marketplace continues to escalate. In fact, China is expected to be the fastest-growing market for air cargo, averaging more than 10 percent per year between 2003 and 2023.
“This latest milestone will allow us to serve more international import and export customers more efficiently from China to all corners of the globe. We continue to expand our operations in China — just this month we declared our plans to add a branch office in Chengdu and in January we announced an agreement to purchase our joint venture partner, DTW Group,” Ducker said.