MEMPHIS, Tennessee —
In Thursday's Ransom Note: score a couple for FedEx.
Despite its challenges, it's still flying a lot of planes, so many in fact, Memphis International is now ranked as the fifth busiest airport in the United States. You can also score another for FedEx in its heated battle with Amazon. Amazon is suspending its competing delivery service so it can focus on the surge of online orders from the coronavirus pandemic. Amazon's shipping service is why last August FedEx cancelled its contract to deliver Amazon packages.
Analysts say this week's move by Amazon to pull back shows it has realized the shipping business isn't as easy as it looks and proves the company was struggling to gain customers beyond its own delivery needs.
FedEx has had its own challenges. COVID-19 delivered a huge hit to its international business, forcing it to take a $1.5 billion loan.
But even so, it continues to be a great corporate citizen, helping to bring much needed PPEs and other supplies from around the world to our healthcare workers here. FedEx deserves some good news.
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