FedEx Seen Losing $400 Million in Next Postal Contract: Freight
This article is for subscribers only.
FedEx Corp., the delivery company that is both a partner and rival to the U.S. Postal Service, may see a federal mail-flying contract drop by more than 27 percent in 2013 as the agency restructures.
Revenue from carrying Postal Service express, priority and first-class mail in FedEx cargo jets may shrink to less than $1 billion annually once the current agreement expires and a new accord is negotiated, according to Satish Jindel, president of SJ Consulting Group Inc. in Sewickley, Pennsylvania.