It was almost exactly 40 years ago that FedEx founder Fred Smith had the idea of flying a small fleet of Dassault Falcon 20s into Memphis, Tenn., from various cities in order to unload and redistribute packages and fly off again. While his idea has long become the dominant paradigm across the legacy airline world, new threats are putting it to the test. Smith was able to connect many more markets with each other than if he had tried to link all of them directly. This made little ...


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