"FedEx Express has announced that it has permanently retired another 22 of its Boeing 757-200 freighters as the carrier continues to manage its fleet resources. The announcement came on June 25, 2024, as the Memphis-based shipping and logistics company revealed its financial results for the quarter ending May 31, 2024. The company reported fiscal fourth-quarter revenues of $201 million, compared with $430 million during the same period in 2023, resulting in a year-on-year decrease of 53%. ...Adding to FedEx’s challenges, at the start of 2024, rival company United Parcel Service (UPS) secured the lucrative contract to become the primary air cargo carrier for the US Postal Service (USPS), a contract that FedEx had held for the past two decades. This is thought to be another contributing factor to the retirement of the 757s from the FedEx fleet. ..."
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