FedEx Express USPS contract to expire Sept 29, 2024 after no deal reached

FEDEX CORP

FedEx Express USPS domestic air transportation contract expires Sept 29, 2024; negotiations concluded March 29, 2024.
Parties unable to agree on mutually beneficial terms; FedEx will continue service through expiration.
Loss of USPS contract is a previously identified risk in FedEx's 10-K and 10-Q, potentially harming profitability.
No financial terms disclosed; contract expiration may reduce FedEx Express revenue and network utilization.

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