FedEx to fly more planes to China
Memphis Business Journal - 1:15 PM CST Friday

FedEx announced Friday it now has the rights to operate three additional weekly flights to China, bringing the total to 26.

FedEx Express, the largest subsidiary of FedEx Corp. (NYSE: FDX), will operated these frequencies, which were awarded by the U.S. Department of Transportation.

Earlier this month, FedEx announced it will add a branch office in Chengdu, China. In January, the Memphis-based shipper broke ground on a new $150 million Asia Pacific hub in Guangzhou and announced an agreement to purchase its Chinese joint venture partner, DTW Group.

Michael L. Ducker, executive vice president, international, for FedEx Express, said in a statement, "This latest milestone will allow us to serve more international import and export customers more efficiently from China to all corners of the globe."

FedEx Express says it will maintain its leadership position with more all-cargo flights to and from China than any other U.S. cargo airline. Atlanta-based rival United Parcel Service Inc. (NYSE: UPS) operates 18 weekly flights to China and plans to add three more in 2006.