Release #06.FDX11
October 17, 2006

FedEx Express Pilots Ratify Contract
New Four-Year Contract Passes 94.6% to 5.4%

MEMPHIS, Tenn. — FedEx Express, a unit of FedEx Corp. (NYSE:FDX), and the Air Line Pilots Association, Int'l. (ALPA), the collective bargaining representative for FedEx Express pilots, today jointly announced that the FedEx pilots have voted to ratify the four-year contract presented to them for review in September.

The contract was approved by a 94.6% to 5.4% margin with 93.7% of the eligible pilots voting. The contract takes effect on October 30 and successfully concludes a negotiation process begun in 2004.

“FedEx Express and ALPA have worked tirelessly over the last two years to reach what we all believe is a competitive and mutually beneficial contract,” said David J. Bronczek, President and Chief Executive Officer of FedEx Express. “This new agreement recognizes their contribution to the success of the company and rewards them for their dedication.”

“With their vote today, our pilots have approved a contract that acknowledges their continued hard work in maintaining FedEx’s leading position in the industry,” said Captain David Webb, chairman of the FedEx unit of ALPA. “The improvements in this contract were possible because of the strength and support of our members throughout the negotiating process. We congratulate our pilots and FedEx for this outstanding achievement.”

The new agreement provides industry-leading pay, improved retirement and health care benefits, stronger job-security provisions, and enhanced work rules, Webb said.

About FedEx Corp.
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $33 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brands. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 275,000 employees and contractors to remain “absolutely, positively” focused on safety, the highest ethical and professional standards and the needs of their customers and communities. For more information, visit

About ALPA
Day and night and 365 days a year, the 4,700 professional FedEx pilots—representing the air division of the FedEx brand and helping generate nearly two-thirds of FedEx Corporation's annual revenue—fly to cities on five continents, making FedEx among the largest and most profitable airlines by any measure. Founded in 1931 and celebrating its 75th anniversary this year, ALPA represents 61,000 pilots at 40 airlines in the U.S. and Canada. Visit the ALPA website at

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FedEx Contact: Maury Lane, (901) 434-4829
ALPA Contact: Scott Sherrin, (901) 409-0325