US CBP sees 90% fall in revenue last month; airfreight sees ecomm slide
February may have been the month in which the US suspended its de minimis exemption ...
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FedEx is making swingeing cuts to its less efficient air freight capacity, with plans to park or retire dozens of older aircraft following its decision to axe Amazon and amid a tough macroeconomic environment.
The company opted not to renew its contract with the e-commerce giant this summer and earlier this week blamed a poor first quarter on the struggling global economy.
Chief operating officer Raj Subramaniam told investors that the company was experiencing weaker demand in air freight.
“We expect the current softness in air cargo demand to ...
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