FedEx Signs Cooperation Pact With Guangzhou Airport

Thursday January 8, 9:57 AM 

FedEx Signs Cooperation Pact With Guangzhou Airport
Yahoo News

HONG KONG (Dow Jones)--Express carrier FedEx Corp. (FDX) said Thursday it had 
signed a framework agreement for cooperation with the Guangzhou Airport 
Authority, but denied reports that it might relocate its Asia-Pacific hub to 
the Chinese city from its base in Subic Bay in the Philippines. 

The South China Morning Post Thursday reported that FedEx might transfer its 
Asia-Pacific hub to Guangzhou's new HK$18 billion airport by 2008, a year after 
its lease on Subic Bay runs out. 

"FedEx has no immediate plans to relocate its Asia-Pacific hub from Subic Bay 
in the Philippines," the carrier said. 

"The company's lease on its Subic Bay hub runs until August 2007 and it has an 
option to renew." 

FedEx said its agreement with the Guangzhou Airport Authority outlines "certain 
principles of cooperation" but details were still under negotiations. 

The express carrier said it is exploring a number of opportunities to grow in 
Asia, and is in the early stages of evaluating possible expansion locations. 
Locations being considered include the new Guangzhou airport and the former 
Clark Airforce base in the Philippines, the Diosdado Macapagal International 
Airport. 

 Do you have an opinion about this story?
Share it with other readers in our CAA Discussion Forums

http://www.californiaaviation.org/dc/dcboard.php

*****************************************