Originally Posted by
hercretired
RAJ
"Transformation" under way! Very exciting
Redesign of "Tricolor" global air network
FedEx and FedEx Freight will be separated within 18 months
DRIVE = achieving improved routing to Europe
International air network design philosophy = improved asset utilization
BRIE, EVP
Fedex Express Revenue is essentially flat
FedEx Freight Revene down 11%
JOHN D, EVP
Soft global economy constrained results
No USPS Contract = 60% reduction of daytime flying
Air Network Cost savings = $180M in Q2
FY Outlook cut
Q/A
Evie: majority of FedEx freight is negotiated contracts which are reupped every year.
Raj: data first, digital mindset to solve problems. This "powers our execution" etc. Transformation !
for what it’s worth, the chief investment officer of kkr was just on cnbc and said “with FedEx, one of big investment ideas is this whole idea of companies going from capital heavy to capital light. What did FedEx just tell you? They’re going to make their capital structure more efficient.”