Against the odds: Mærsk, MSC, CMA CGM & Hapag – 'Houston, we've a problem'
Too much money to handle
Maintaining its aircraft were “a drag” for FedEx and pulled down its bottom line, according to its second quarter results announced this morning. Earnings increased less than expected by analysts, although the express company has benefited from falling fuel prices. Freight revenue grew 11%, express was up 3% and its ground division rose 8% to give it an overall second quarter profit of $616m on revenues of $11.9bn.