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FedEX, USPS extend express air transportation contract

Published 24 February 2017

FedEx's subsidiary FedEx Express has extended its express air transportation contract with United States Postal Service (USPS) up to September, 2024, which was originally executed in April, 2013.

The modified contract is expected to generate revenue of approximately $1.5 billion per year for FedEx Express. FedEx Express will provide airport-to-airport transportation of USPS Priority Mail Express and Priority Mail within the United States.

FedEx president and chief operating officer David J. Bronczek said: “We are pleased to be able to extend this agreement and to continue the outstanding service that FedEx Express has provided to the USPS for more than 16 years.

“This contract provides USPS with the operational reliability and flexibility they have come to expect from FedEx.”

FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services.

With annual revenues of $58 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand.

Source: Company Press Release