FedEx gets government compensation

Oct. 1, 2001
FedEx Express said it has received $101 million from the U.S. Government under the Air Transportation Safety and System Stabilization Act to make up for business lost since the terrorist attacks on the U.S. The money compensates FedEx for a portion of its direct losses incurred beginning on September 11 resulting from the grounding of the FedEx Express aircraft fleet, as well as for related subsequent
FedEx Express said it has received $101 million from the U.S. Government under the Air Transportation Safety and System Stabilization Act to make up for business lost since the terrorist attacks on the U.S.

The money compensates FedEx for a portion of its direct losses incurred beginning on September 11 resulting from the grounding of the FedEx Express aircraft fleet, as well as for related subsequent losses expected to be incurred through the end of the calendar year.

FedEx said additional payments are expected before the end of the calendar year.

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