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Sun, Dec 24, 2023

FedEx Pilots Note Recent Earnings Announcement

Despite Lowered Expectations for Investors, Pilots Keep Eye on the Ball

FedEx pilots responded to the company's 2nd-quarter financial results by way of their Air Line Pilots Association team, reminding executives that they still owe their employees a contract.

Captain Billy Wilson, chair of the FedEx ALPA Master Executive Council, said “While FedEx may have missed on financial analysts’ expectations during yesterday’s earnings announcement, it is imperative that FedEx not miss on the expectations of FedEx pilots during their resumption of contract negotiations."

He references the firm's recent statement, where the Memphis shipping company posted a profit of $900 million for the fiscal quarter ending November 30. Last year, the same span saw a profit of $788 million, showing a fair bit of success when considered in a vacuum. But financial analysts were disappointed with the recent $3.55/share profit price, since their per-share earnings were projected to be a much healthier $3.97. Despite profits hitting pretty close to the $1 billion mark, analysts were unimpressed - and FedEx pilots want to make sure management can't turn out their pockets and shrug when negotiations continue.

"These pilots are critical to the success of the corporation and delivering ‘the world on time.’" added Wilson. "FedEx pilots have delivered above and beyond expectations, yet our management refuses to acknowledge the value we bring to FedEx. It’s time for management to bring a suitable economic offer to the table.”

FMI: www.alpa.org

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