|
FedEx trucks dock at their Middletown, Pa., facility, Wednesday, Sept. 22,
2004. (AP) |
US FedEx plans to turn Shanghai into its intercontinental
cargo centre in the Asia-Pacific region by adding more flights to its air routes from China to
the US, Europe and the Asia-Pacific hub in Subic Bay in the
Philippines.
The plans are based on the awarding by the US
Department of Transportation (DOT) to FedEx of 12 new frequencies
, resulting from
successful negotiations on rights of navigation between the Chinese and
the US governments.
"We are looking forward to providing our customers with even more
comprehensive service to and from China," said Eddy Chan, head of FedEx
Express China.
Today, FedEx operates 11 weekly flights to Shanghai, Beijing and
Shenzhen.
When finalized, the award will provide FedEx with 23 weekly flights to
China, more than doubling its current number of weekly flights and
preserving its leadership position as the largest express carrier in
China, FedEx said in a statement.
"If finalized, six new flights will begin this year and another six in
2005," Chan said.
Based on the Sino-US negotiations, the US will add 111 weekly flights
to its air routes to China between 2004 and 2010. At present, there are
only 54 weekly flights on Sino-US air routes.
"Adding new flights to China should be attributed to the express
carrier's booming business, with its volume increasing by 52 per cent in
its first fiscal quarter (June-August) of 2004, compared with the same
period last year," Chan said.
"With more flights, we have enough power to compete with our rivals,"
he said.
Reports on FedEx's global business in the first fiscal quarter this
year showed that its revenue grew by 23 per cent over the same period last
year to reach US$6.98 billion.
Its net
income came to US$330 million, an increase of
157 per cent over the same period last year.
(China Daily) |