AccessMyLibrary provides FREE access to millions of articles from top publications available through your library.
BYLINE: Ian Putzger
Concerns about the direction of the air cargo company are spreading as lackluster and demand overcapacity in key markets erode carrier margins.
According to Frederick W. Smith, chairman, president and CEO of FedEx, the pain will continue for a few weeks yet, but a recovery is just around the corner.
Releasing the results for the quarter ended May 31 and for the financial year 2007, FedEx declared itself hamstrung by the sluggish economy. "The weakened industrial sector is currently limiting demand for transportation services," Smith said.
FedEx''s net profit in the last quarter of its fiscal year was up 7.4 percent to $610 million as revenue advanced 8 …