FedEx is a subsidiary of FedEx Corp., which provides customers and enterprises with a comprehensive range of services including transportation, e-commerce and business operations.
FedEx was founded by Frederick Smith, a graduate of Yale University. Mr. Smith is an imaginative veteran. In 1971, he founded “Arkansas Airlines” in Little Rock, Arkansas, and purchased 33 small French-made jet transport aircraft in 1972. The Little Rock authorities did not agree with Smith to set up an operating base at the airport. He applied to the Memphis Airport and was approved. In 1973, “Arkansas Airlines” moved to Memphis and changed its name to “FedEx Corporation”. In July of that year, the company’s business was officially put into operation. At that time, FedEx had a total of 389 employees, which increased to 1,100 in 1974. In February 1975, it began to make its first profit of 20,000 US dollars. In 1979, its business expanded to Canada, and in 1984 to Europe and the Asia-Pacific region. In 1989, it merged with Flying Tiger Airlines for $880 million. In 1994, it officially used its current trademark. In 1995, it acquired Evergreen International and entered the Chinese market. Among the international airlines’ cargo planes that are allowed to land at airports in mainland China, only FedEx is allowed to do so.
Through its competitive and coordinated management operation model, FedEx Group provides a comprehensive set of business application solutions, which has brought its annual revenue to $32 billion. In 2012, it ranked 263rd on the Fortune Global 500 list. In 2013, it ranked 245th on the Fortune Global 500 list.
FedEx has a global air and land transport network, which usually takes only one to two working days to quickly deliver time-sensitive shipments, and can ensure on-time delivery, and has a “on-time delivery guarantee” commitment. Starting from April 1, 2013, FedEx China Co., Ltd. implemented the GDS (Global Distribution System) China coverage plan and established a China highway transshipment center in Wuhan, officially making Wuhan a national highway transshipment hub, and undertaking the cargo distribution and transshipment business of Wuhan’s eight highway trunk lines from Xi’an, Zhengzhou, Changsha, Nanchang, Shanghai, Chongqing, Chengdu, and Guangzhou, with 16 round-trip flights.