However, the Chinese New Year demand and potential escalation of military conflict in the Middle East could drive air cargo charges further in the coming weeks.
The company has revealed a newly branded component to its restructuring—a “tricolor network,” sorting its FedEx Express aircraft fleet into three categories.
The new Contested Logistics System-300 Nautical Miles (CLS-300) will enter propulsion tests before June and flight tests by the end of 2024, the company said.
UPS says the new HKG facility will have the capacity to handle around 1 million tons of cargo annually, although the expected build cost has not been revealed.