US-based FedEx has cut its full-year forecast after a worse-than-expected quarterly profit attributed to customers switching to cheaper-than-airfreight alternatives.
FedEx said its express unit under performed due to weakness in Asia and other international markets, where margin pressures arising from excess capacity more than offset increased volumes.
FedEx already has announced plans to cut express capacity to and from Asia from April 1 and to reduce its fleet by retiring more of its older, less-efficient aircraft.
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On its way to develop alternative energy-sources for greener aviation, Airbus is also supporting basic research activities for electric aircraft concepts “eGenius”... more ...
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