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FEDEX CORPORATION

(FDX)
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FedEx : Delivering Critical COVID-19 Aid to India; Thousands of oxygen concentrators and converters, hundreds of thousands of masks among aid being airlifted to India

05/06/2021 | 12:30pm EDT

MEMPHIS, Tenn.- As India and its healthcare systems face a surge in COVID-19 infections across the country, FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and the world's largest express transportation company, is working with organizations around the world to deliver critical medical supplies and equipment during this crisis.

FedEx is currently supporting the transportation of more than 25,000 oxygen concentrators and converters through an initiative with the U.S.-India Strategic Partnership Forum and other multinational companies. An initial shipment of 1,000 critical oxygen concentrators was delivered by FedEx to New Delhi on April 30 as part of this collective.

On May 8, FedEx is donating a FedEx Boeing 777F charter flight to move more than 3,400 oxygen concentrators, converters and nearly 265,000 KN95 masks for Direct Relief from Newark, New Jersey to Mumbai, India. The supplies will ultimately be delivered to healthcare facilities in Mumbai. In addition, FedEx is working with customers and non-profit organizations to deliver hundreds of tonnes of medical supplies and aid into India in the days and weeks ahead.

FedEx also is a member of the Global Task Force on Pandemic Response, a public-private partnership organized by the U.S. Chamber of Commerce and supported by the Business Roundtable to provide a unified platform for businesses to mobilize and deliver resources to assist COVID-19 efforts in areas of the highest need around the world. FedEx President and COO Raj Subramaniam is one of 17 business leaders serving on the steering committee for the task force.

'The devastating humanitarian crisis in India requires relief from around the world, and it is our mission to deliver critical aid needed to help alleviate suffering,' Subramaniam said. 'We have been on the frontlines delivering relief since the start of the pandemic, and are responding to the urgent situation in India now. FedEx will continue to deliver lifesaving medicine, personal protective equipment, and other critical supplies until this pandemic is over.'

FedEx has moved more than 10,000 COVID-19 humanitarian aid shipments since January 2020. The company has also committed $4 million in cash and in-kind transportation support to help nonprofits including Direct Relief and International Medical Corps distribute COVID-19 vaccines to under-resourced communities around the world.

FedEx has a long history of moving critical items across the globe. Since the start of the pandemic, FedEx Express has shipped more than 80 kilotons of personal protective equipment, including more than 2.2 billion masks worldwide. An integral part of the global vaccine supply chain, FedEx is currently delivering COVID-19 vaccines, related ingredients, and supplies to more than 25 countries around the world.

'Direct Relief is thankful beyond words for FedEx enabling scaled-up assistance that's critically needed by people in India, where growing COVID-19 cases present such severe threats to their health,' said Thomas Tighe, Direct Relief President and CEO. 'As it has on so many other occasions, FedEx devoting its unique logistics capacity and the skills and energies of its global team is a perfect example of the type of leadership and commitment that is needed now to combat this historic pandemic and the risks to people everywhere.'

The delivery of the lifesaving supplies is consistent with the company's FedEx Cares 50 by 50 goal to positively impact 50 million people around the world by the company's 50th anniversary in 2023. Learn more about the FedEx Cares 'Delivering for Good' initiative here.

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2021 82 517 M - -
Net income 2021 4 672 M - -
Net Debt 2021 14 933 M - -
P/E ratio 2021 16,7x
Yield 2021 0,95%
Capitalization 78 990 M 78 990 M -
EV / Sales 2021 1,14x
EV / Sales 2022 1,05x
Nbr of Employees 412 000
Free-Float 77,1%
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Mean consensus BUY
Number of Analysts 30
Last Close Price 293,16 $
Average target price 338,09 $
Spread / Average Target 15,3%
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Managers and Directors
NameTitle
Frederick Wallace Smith Chairman & Chief Executive Officer
Rajesh Subramaniam President, Chief Operating Officer & Director
Michael C Lenz Chief Financial Officer & Executive Vice President
Robert B. Carter Chief Information Officer
Shirley Ann Jackson Independent Director
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