2023 U.S.-Booked Air Volume: $178 million
Consolidated U.S. TMC: BCD Travel
BTN estimates FedEx spent $178 million on U.S.-booked air travel for employees in 2023, more than its 2019 pre-pandemic spend of an estimated $150 million.
The year-on-year decline follows widespread cost-cutting measures in 2023 that included staff layoffs and the consolidation of the company’s separate air and ground delivery units into a single entity. The Memphis-based transportation company previously outlined plans to cut $4 billion in costs by 2025, including $1.8 billion in fiscal year 2024, to tighten capacity and restructure delivery networks.
FedEx employee business travel was responsible for 79,690 metric tons of carbon dioxide equivalent in 12 months through May 2023, up from 70,250 in the previous 12 months.
Revenue in FedEx’s most recent fiscal year, which ended May 31, 2024 ,was $87.7 billion, down from $90 billion in the prior fiscal year. As of June 7, 2024, Federal Express employed approximately 430,000 employees, down from 529,000 in 2023.