FedEx announces consolidation of companies and focus on air freight

FedEx is to consolidate its companies into a single organisation and operate “a unified, fully integrated air-ground network” by 2024. The unified business will “bring distinct focus on the air network and international volume”, the company said, adding it expects the merging of its businesses to save it around $4bn in 2025. The move is aimed at “creating efficiencies that will enhance the company’s ability to meet the evolving needs of customers and ultimately build a stronger, more profitable enterprise”. “Over the last 50 years, we built networks that have created a differentiated and unmatched portfolio of services,” said Raj