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FedEx sees coronavirus cargo opportunities in airline travel bans
来源： 编辑：编辑部 发布：2020/03/26 09:14:49
MORE and more travel bans spawned by the coronavirus scare have left international airlines begging for cargo, a situation in which FedEx sees profit, reports The Associated Press.
Passenger aircraft carry most of the world's air cargo in their bellyholds, and now that they can no longer carry passengers, airfreight is the only payload left.
FedEx chairman and CEO Fred Smith said that the express delivery giant is capable of handling the increased demand for its for international express-delivery services that's arising because of the reduction in airliners.
Executives also sounded upbeat about China's recovery from the virus outbreak that started there, and about demand from American consumers, millions of whom are now locked down in their homes, either by choice or government decree.
Said FedEx president Raj Subramaniam: "For the last couple weeks we have seen increased demand from Asia. We have seen strong demand for FedEx Ground here in the US and especially home delivery, and even the commercial volumes have been quite stable."
The comments came after Memphis-based FedEx posted surprisingly strong revenues but a sharp drop in profit during the quarter that ended February 29.
FedEx also suspended its financial forecasts for the fiscal year, which ends in less than three months, because of the uncertain impact of the virus outbreak. It joined a long and growing list of companies withdrawing earnings guidance, from airlines and cruise lines to retailers such as Costco and Nordstrom and consumer stalwarts including Apple and Coca-Cola.
Passenger aircraft carry most of the world's air cargo in their bellyholds, and now that they can no longer carry passengers, airfreight is the only payload left.
FedEx chairman and CEO Fred Smith said that the express delivery giant is capable of handling the increased demand for its for international express-delivery services that's arising because of the reduction in airliners.
Executives also sounded upbeat about China's recovery from the virus outbreak that started there, and about demand from American consumers, millions of whom are now locked down in their homes, either by choice or government decree.
Said FedEx president Raj Subramaniam: "For the last couple weeks we have seen increased demand from Asia. We have seen strong demand for FedEx Ground here in the US and especially home delivery, and even the commercial volumes have been quite stable."
The comments came after Memphis-based FedEx posted surprisingly strong revenues but a sharp drop in profit during the quarter that ended February 29.
FedEx also suspended its financial forecasts for the fiscal year, which ends in less than three months, because of the uncertain impact of the virus outbreak. It joined a long and growing list of companies withdrawing earnings guidance, from airlines and cruise lines to retailers such as Costco and Nordstrom and consumer stalwarts including Apple and Coca-Cola.