Quantcast

FedEx highlights economic contributions with major investments in Middle East

Qantas’ free international Wi-Fi to switch on from next week
The real reason Southwest is charging for bags now
Air France-KLM in ongoing talks with Air Europa on potential stake, CEO says
Frontier Savagely Shades Southwest After They Eliminated Longstanding Free Bag Policy, Sparking Backlash
Frontier Wants You to 'Divorce Your Old Airline' After Southwest Changes
Delta named one of Fast Company's Most Innovative Companies for sustainability initiatives
Passengers escape fiery American Airlines jet in Denver
Delta, American Dive On Slashed Outlooks; But Two Airlines Rally
Competitors are circling Southwest after the airline announced it's going to start charging for checked bags
Exclusive: Dominican Low-Cost Carrier Arajet Wants to Disrupt NYC Market
Boeing deliveries rise 63% in February from a year earlier
Transportation Secretary Duffy Lays Out 10 Ways the FAA Is Working to Upgrade Air Traffic Control and Make Flying Safer
EasyJet pilot Paul Elsworth suspended after flying too close to mountain
Delta Air Lines bets on ‘blended-wing’ flight to reduce emissions
Europe's airlines pivot to bite size M&A deals to limit cost, regulatory burden
Dave Emerson named new CEO of Virgin Australia, replacing Jayne Hrdlicka
Ryanair DELAYS controversial new boarding pass rule to avoid summer chaos
FAA Orders Inspection, Replacement of 737NG Engine Parts
Spirit Adds New Airport, Three Routes
Delta crash passengers should take the $30,000 payment, their lawyers say. Here’s why.
Budget airline launches new cheap flights to one of the UK’s top winter sun destinations
Brazilian airline Azul to go 'back to basics' after challenging 2024
Airlines cancel flights as air travel to ‘grind to complete halt’ this week ahead of major strike action in Europe
Dramatic moment American Airlines plane diverted to Rome is escorted by fighter jets after mid-air bomb threat
Jetstar Faces Major Backlash as Nationwide System Outage Causes Travel Chaos, Stranding Passengers and Disrupting Flights Across the Australian Airline Industry
Sudden oil supply outages creating turbulence for airline industry
Southwest's layoffs dent its worker-first culture
Abu Dhabi's long-haul carrier Etihad Airways sees record $476 million profit in 2024
Jet2 warns of profits squeeze from rising costs and late bookings
Southwest bends further to activist shareholder Elliott's demands
FedEx highlights economic contributions with major investments in Middle East
Policy
Webp cnwbujf4iwf5d1fffh9iiy84viej
Sriram Krishnasamy Executive Vice President and Chief Transformation Officer, FedEx Corporation President and CEO, FedEx Dataworks | FedEx

FedEx Corp. has released its annual economic impact report, highlighting the company's role in fostering economic growth globally and its significant investments in the Middle East during the fiscal year 2024. The report, produced with Dun & Bradstreet, emphasizes the 'FedEx Effect,' which refers to FedEx's influence on accelerating goods and ideas that spur economic development.

Raj Subramaniam, president and CEO of FedEx Corporation, stated, "At FedEx, we have a vision to make supply chains smarter for everyone by leveraging advanced data and technology to better serve our customers and their customers, thereby extending our reach and impact." He further noted that the 'FedEx Effect' is a testament to their commitment to excellence and community development.

In FY 2024, FedEx contributed over US$85 billion directly to the global economy, making up about 0.1% of the world's total net economic output. In regions such as the Middle East, Indian Subcontinent, and Africa (MEISA), FedEx's direct contribution was also 0.1% of the region's Transportation, Storage, and Communications sector's net output. Indirectly, FedEx added an estimated US$280 million to MEISA's overall economy.

Get the Newsletter
Sign-up to receive weekly round up of news from Sky Industry News
By submitting, you agree to our Privacy Policy and Terms of Service. By providing your phone number you are opting in and consenting to receive recurring SMS/MMS messages, including automated texts, to that number from our short code. Msg & data rates may apply. Reply HELP for help, STOP to end. SMS opt-in will not be sold, rented, or shared.

Kami Viswanathan, regional president of FedEx MEISA said: "At FedEx, we are committed to supporting the impressive growth and transformation happening across the Middle East." She emphasized that their infrastructure aims to empower local businesses by connecting them to global opportunities.

A notable investment is the new state-of-the-art hub at Dubai World Central Airport in Dubai South. This facility represents a long-term investment exceeding US$350 million into UAE's economy through infrastructure enhancements. The hub includes automated sort systems for efficient package processing and sustainable technologies like energy-efficient systems.

Additionally, FedEx expanded its regional network by signing a Memorandum of Understanding for a logistics facility in Qatar’s free zones and enhancing services between Vietnam and the Middle East with a new flight service.

To assist SMEs in improving shipping strategies, FedEx introduced solutions like Less-than-Container Load Priority multimodal service from Asia Pacific to key Middle Eastern markets. They also offer deferred road services within several countries including UAE and Saudi Arabia.

In sustainability efforts for FY 2024, FedEx added electric vehicles to its UAE fleet and launched Sustainability Insights for carbon footprint estimation of shipments. Social contributions included projects across MEISA cities where team members engaged in community support activities such as packing food hampers during Ramadan.

The detailed findings can be accessed in the FY 2024 FedEx Global Economic Impact Report available online.

Organizations Included in this History
More News

Southwest Florida International Airport (RSW) has shelved plans for a parallel runway until at least the early 2040s, despite its status as the United States' second busiest single-runway airport.

Mar 29, 2025

Cristiano Ronaldo has acquired a new Gulfstream G650 private jet, valued at $73 million.

Mar 29, 2025

The Cessna Citation I, the original jet that sparked the Citation brand, has left an enduring mark on private aviation.

Mar 29, 2025

The Port Authority of New York and New Jersey has announced the opening of a second sensory room at Newark Liberty International Airport’s Terminal A. This addition aims to enhance the airport experience for travelers with special needs,...

Mar 29, 2025

Delta Air Lines is commemorating its 100th anniversary and among the initiatives to mark this milestone is the renovation of the Delta Flight Museum.

Mar 29, 2025

Delta Air Lines has introduced a new series of trading cards featuring Centennial colors and branding as part of its 100th-anniversary celebrations.

Mar 28, 2025