FedEx to shave daily flights to align costs with lower demand

A FedEx plane

FedEx Corp. will cut daily flights across the Atlantic, the Pacific and between Asia and Europe as it begins the process of aligning its cost structure with what the company has said is declining worldwide demand.

FedEx (NYSE: FDX) will cut 11% of its trans-Pacific flights, 9% of its trans-Atlantic flights and 17% of its flights between Asia and Europe, the company told analysts Thursday night soon after officially releasing its fiscal 2023 first-quarter results. 

The company stunned everyone...

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