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flyPIT
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Posts: 1643
Joined: Wed Jun 15, 2016 6:21 am

FedEx to invest in employees, MEM, and IND expansion

Fri Jan 26, 2018 4:58 pm

-$1.7 billion toward employees in terms of raises and funding pension plans

-$1.5 billion for massive expansion of IND hub

-MEM hub modernization and expansion to be detailed this Spring.

https://www.memphisdailynews.com/news/2018/jan/26/fedex-to-increase-wages-overhaul-superhub-this-spring/
FLYi
 
Indy
Posts: 4843
Joined: Thu Jan 20, 2005 1:37 pm

Re: FedEx to invest in employees, MEM, and IND expansion

Fri Jan 26, 2018 5:49 pm

Can they expand MEM or is it going to be a capacity expansion resulting from a modernization of the sort facility?
Indy = Indianapolis and not Independence Air
 
msycajun
Posts: 1064
Joined: Thu Jun 16, 2016 4:13 am

Re: FedEx to invest in employees, MEM, and IND expansion

Fri Jan 26, 2018 6:13 pm

Hadn't they already announced major expansion plans at IND? It looks like announcements over the past two years to the tune of about $430 million had been made. Is this in addition to that or repackaging the announcement for a bigger impact? Worth noting that it's 1.5 B over 7 years. Could that include planes and trucks that would have needed to be purchased or overhauled anyway?
 
Indy
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Joined: Thu Jan 20, 2005 1:37 pm

Re: FedEx to invest in employees, MEM, and IND expansion

Fri Jan 26, 2018 6:14 pm

Planes and trucks aren't location specific. FX spending at IND is amazing. By the time this is done, they will have spent nearly $2 billion in 10 years.
Indy = Indianapolis and not Independence Air
 
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nikeson13
Posts: 221
Joined: Mon Dec 05, 2011 5:35 am

Re: FedEx to invest in employees, MEM, and IND expansion

Fri Jan 26, 2018 6:23 pm

Look at this link http://www.commercialappeal.com/story/m ... 055639001/
Seems like they want to destroy some existing structures and rebuild them to modern standards, so more of making the hub more efficient and creating more capacity without expanding footprint much.
And $1.5 mil for IND?!? Last expansion in 2006 costed $216 million and this is what they got:
-14 new hardstands
-30% increase in processing capacity per hour
http://www.dmnews.com/direct-mail/fedex ... cle/91222/

Another example is CGN, which costed €140 million and can process up to 18,000 packages a hour. IND can currently do around 93,000 packages/hr. http://about.van.fedex.com/newsroom/fed ... n-airport/

So if that whole $1.5 billion is invested over 7 years... we could see a lot of expansion. Possibly expand IND to relieve MEM, then rebuild MEM in pieces? Time will tell...
Nikolas
 
dfwjim1
Posts: 2230
Joined: Fri Sep 09, 2011 8:46 pm

Re: FedEx to invest in employees, MEM, and IND expansion

Fri Jan 26, 2018 6:55 pm

How about FedEx's Fort Worth, Texas, Alliance Airport facility? Any improvements and/or expansion for that facility?
 
Aptivaboy
Posts: 795
Joined: Fri Jul 15, 2016 3:32 pm

Re: FedEx to invest in employees, MEM, and IND expansion

Fri Jan 26, 2018 7:21 pm

Nice to see the investing in the pension plan. That's a significant way to keep an employee group happy and motivated. It isn't always about one's take home pay, but about the future.
 
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flyPIT
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Joined: Wed Jun 15, 2016 6:21 am

Re: FedEx to invest in employees, MEM, and IND expansion

Fri Jan 26, 2018 7:38 pm

For some context, $1.5 billion is also the amount that Amazon will be spending at CVG. That plan involves 1,100 acres of largely greenfield space and at least 100 widebody parking stands (but no new runway).
FLYi

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