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World
AIR CARGO

FedEx Q1FY2025 net income drops 27% on low demand

edEx reported a 27 percent decline In addition, higher operating expenses expects a low single-digit percentage
Fin net income at $790 million for the and one fewer operating day negatively revenue growth rate year over year, and
first quarter of fiscal 2025 (quarter ended affected the quarter’s results. A reduction has reaffirmed permanent cost reduc-
August 31, 2024) on marginal decline (0.5 of structural costs from the company’s tions from the DRIVE transformation
percent) in revenue at $21.6 billion on mix DRIVE programme initiatives partially programme of $2.2 billion and capital
shift, which reduced demand for priority offset these factors. spending of $5.2 billion.
services, increased demand for deferred FedEx has revised its fiscal 2025
services and constrained yield growth. revenue and earnings forecasts, and now

Etihad Cargo, SF Airlines plan JV American Airlines

to strengthen UAE-China trade Cargo expands cold
chain network

merican Airlines Cargo announced
Athat John F. Kennedy International
Airport (JFK) and Luis Muñoz Marín
International Airport (SJU) have joined its list
of U.S. stations certified by IATA’s Center of
Excellence for Independent Validators (CEIV)
in pharmaceutical logistics, or CEIV Pharma.
The certifications underscore the carrier’s
commitment to quality in life sciences han-
dling as the process evaluates safety, compli-
tihad Cargo, the cargo and logistics global markets. The current collabora- ance, consistency, and training at each
Earm of Etihad Airways, and SF tion has seen both airlines sharing ca- station to achieve certification. The carrier
Airlines, a subsidiary of SF Holding, pacity to improve global trade routes. also recently achieved re-certification of Dal-
will establish a joint venture, marking Key aspects of the joint venture las/Fort Worth International Airport (DFW)
a milestone in the 40-year history include increased aircraft capacity, and Philadelphia International Airport (PHL),
of diplomatic relations between the improved transit times, interconnected which were first certified in 2021, and still
United Arab Emirates (UAE) and China. networks and the expanded distri- maintains certification of Miami International
The joint venture project builds on bution of SF Express’s international Airport (MIA) and its headquarters.
the already successful partnership express services. These enhancements In addition to these major hubs, American
between Etihad Cargo and SF Airlines, will offer SF Airlines and its customers also operates out of more than 30 CEIV- or
which has enhanced connectivity and greater flexibility and faster GDP-certified locations around the world.
capacity between China, the UAE and European connections.
28 | OCTOBER 2024 www.stattimes.com