Reflects Escalating Demand for Logistics Services between Korea and Europe Following the Korea-Europe FTA Effectuation
FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and the world’s largest express transportation company, announced that it has enhanced its services along the Asia-Europe route with the roll out of a new A300-600 aircraft on the existing route from Incheon, Korea into Europe over the FedEx Asia-Pacific hub in Guangzhou, China, ten times per week.
The maximum load capacity of an A300-600 aircraft is approximately 50 tons (110,000 pounds), about 13 tons (30,000 pounds) more than the A310-300 currently used on the route, which will allow for more goods to be transported.
The new aircraft deployment was launched in Guangzhou and a number of key locations throughout Europe, Middle East and Africa. This latest enhancement is expected to assist in meeting the increased demands for logistics services in Asia-Pacific and Europe. In addition, FedEx plans to deploy the new freighters in the FedEx AsiaOne® network, which connects major cities in Asia within 24 hours.
“FedEx looks closely at global trade performance, responding to customer needs in a timely and proactive way,” said David L. Cunningham Jr., president, Asia Pacific, FedEx Express. “Despite the challenging economic environment in Europe, Asia remains a strong trading partner with the EU. Trade between Korea and the EU showed 26 percent year-on-year growth in the first four months in 2011 . With this latest service enhancement, FedEx is equipping its customers with enhanced capacity and flexibility.”
According to research released from KIEP (Korea Institute for International Economic Policy), trade volume between Korea and the European Union subsequent to the FTA effectuation is expected to increase 4.65 billion USD per year, and the quantity of goods transported by air is anticipated to increase up to 20% as a result.
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About FedEx Corp.
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $39 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its more than 290,000 team members to remain “absolutely, positively” focused on safety, the highest ethical and professional standards and the needs of their customers and communities. For more information, visit news.fedex.com.