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FedEx Buys Rival Cargo In India.  
User currently offlineFXramper From United States of America, joined Dec 2005, 7475 posts, RR: 78
Posted (9 years 6 months 3 weeks 5 days 10 hours ago) and read 3655 times:
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FedEx Corporation (NYSE: FDX) announced today that its FedEx Express unit has signed an agreement to acquire its Indian service provider, Prakash Air Freight Pvt. Ltd. (PAFEX) for US$30 million, payable in cash. The transaction, which is subject to customary conditions including Indian government approval, will further extend the FedEx leadership position in the global express industry with a wholly-owned operation in one of the world’s fastest growing markets.

  • FedEx was the first express company to introduce an all cargo flight in India in 1997.
  • FedEx began the first overnight express service between India and China in 2005.
  • FedEx was the first express air cargo company to operate two gateways in India (Mumbai and Delhi), with a total of 16 MD-11 flights in and out per week.

We might need a second Asia hub in years to come!  yes 

Source: Company mail.

2 replies: All unread, jump to last
User currently offlineAtmx2000 From United States of America, joined Oct 2004, 4576 posts, RR: 36
Reply 1, posted (9 years 6 months 3 weeks 5 days 10 hours ago) and read 3619 times:

If the company was FedEx's service provider, how could they be a rival?

ConcordeBoy is a twin supremacist!! He supports quadicide!!
User currently offlineFXfan From United States of America, joined Oct 2006, 85 posts, RR: 0
Reply 2, posted (9 years 6 months 3 weeks 5 days 7 hours ago) and read 3491 times:

Where is the FX hub in Asia? Is it still at Subic Bay?

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