MEMPHIS, TENN., Sept. 18, 2008 – FedEx Corp. (NYSE: FDX) will increase shipping rates for FedEx Express by an average of 6.9 percent for U.S. and U.S. export services, effective January 5, 2009. The rate increase will be partially offset by adjusting the fuel price at which the fuel surcharge begins, reducing the fuel surcharge by two percentage points.
Rates and surcharges for FedEx Ground also will increase for 2009. These changes will be announced later this year.
“Customer service is a top priority at FedEx,” said T. Michael Glenn, FedEx executive vice president, Market Development. “This pricing adjustment will allow FedEx to continue making key investments in our business so we can focus on the needs of our customers.”
Additional changes will be made to other FedEx Express surcharges effective Jan. 5, 2009. The details of these surcharges and the new rates are available at www.fedex.com/us/2009rates.
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $38 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 employees and contractors 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.