And they will probably make around $2B for the fiscal year, on $95B revenue or so, close to the 2% net income range.

Put it in perspective. UPS posted $3.1B profit in the latest quarter, and will reach $12B+ on $100B revenue for the year, 12%+ profit margin. So UPS will make more in one quarter (by $1B) than Fedex the entire year, think about that. And they will do it with a heavy union labor workforce, truckers making significantly more, much better benefits, etc.

For those who think Fedex is crushing it, in reality it is barely getting by. Investors see this clearly, so much capital, so much leverage, all for 2% profit margin?

Now, having said all this, the Fedex pilots should not settle for anything below par due to management’s poor performance and lack of acumen how to run the business efficiently, ‘cause make no mistake, the lack of performance by Fedex is not caused by any economy, it lies entirely on a clueless leadership team, a good old boys club, and the Fedex pilots should not be punished for this.