Press Release
FedEx Express to Increase Net Average Shipping Rates 4.9 Percent in 2008
October 26, 2007FedEx Corp. (NYSE: FDX) will increase the net average shipping rate for FedEx Express by 4.9 percent, which is composed of a 6.9 percent increase in standard list rates, offset by a 2.0 percent reduction in the fuel surcharge. The new rates will be effective Jan. 7, 2008 and apply to U.S. and U.S. export express package and freight shipments.
Rates and surcharges for FedEx Ground also will increase for 2008. These changes will be announced later this year.
New in 2008, FedEx Express customers importing goods to the U.S. will pay U.S. dollar rates. This provides a consolidated set of U.S. import rates to U.S. customers allowing them to avoid uncertainties caused by currency fluctuations. Increases in rates for shipments inbound to the U.S. from certain international locations will also be effective Jan. 7, 2008.
"FedEx continues to provide market leading express services," said T. Michael Glenn, FedEx executive vice president, Market Development and Corporate Communications. "These rate adjustments will allow FedEx to continue making the necessary investments in our business so we can continue to give our customers a superior shipping experience."
Additional changes will be made to other FedEx Express surcharges effective Jan. 7, 2008. The details of these surcharges and the new rates are available at http://www.fedex.com/us/rates2008.
About FedEx
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $36 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 280,000 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 http://news.fedex.com.
