Shows & Panels
- The 2014 Big Picture on Cyber Security
- AFCEA Answers
- Ask the CIO
- Connected Government
- Consolidating Mission-critical Systems
- Constituent Servicing
- Continuous Monitoring: Tools and Techniques for Trustworthy Government IT
- The Data Privacy Imperative: Safeguarding Sensitive Data
- Eliminating the Pitfalls: Steps to Virtualization in Government
- Federal Executive Forum
- Federal Tech Talk
- Government Cloud Brokerage: Who, What, When, Where, Why?
- Government Mobility
- Mission-critical Apps in the Cloud
- Mobile Device Management
- The Modern Federal Threat Landscape
- The Path from Legacy Systems
- Understanding the Intersection of Customer Service and Security in the Cloud
Shows & Panels
FedEx extends deal with Postal Service for 7 years
Tuesday - 4/23/2013, 6:28pm EDT
MEMPHIS, Tenn. (AP) -- FedEx says it signed a seven-year, $10.5 billion deal to keep hauling air mail for the U.S. Postal Service.
The deal calls for FedEx to carry Express Mail and Priority Mail between U.S. airports.
The new deal starts in October, replacing a contract set to expire in September. FedEx said it has been providing a similar service for 12 years.
FedEx Corp. said Tuesday that the new contract gives the Postal Service flexibility to respond to future changes. The Postal Service is in a financial crunch and is restructuring its retail, delivery and mail processing operations. Since 2006 it has reduced annual costs by $15 billion, cut 193,000 workers and consolidated more than 200 mail processing locations.
FedEx shares closed up 67 cents at $93.17.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.