Wall Street Journal: FedEx Corp. said Thursday that demand for air-cargo services from Asia is still being hit by companies running down inventory, leading it to park some planes and delay the arrival of others that fly goods nonstop to the U.S. The world's largest air-cargo carrier by traffic also outlined plans to upgrade other parts of its aircraft fleet and reaffirmed fiscal 2012 guidance after reporting a 76% rise in fiscal-second-quarter profit that surpassed Wall Street expectations. Results for the quarter ended Nov. 30 were led by volume and pricing gains at FedEx's ground division, while volume slumped 3% and 4%, respectively, in the company's international priority express and U.S. domestic express shipping operations. Read more!
