The new holding company began operations in January 1998, with the acquisition of Caliber System Inc. On October 2, 1997, FedEx reorganized as a holding company, FDX Corporation, a Delaware corporation. Reorganization and Caliber acquisition Ī Federal Express McDonnell Douglas MD-11 in 1995 In 1994, Federal Express shortened its name to "FedEx" for marketing purposes, officially adopting a nickname that had been used for years. In 1988, it acquired one of its major competitors, Flying Tiger Line, creating the largest full-service cargo airline in the world. The company grew rapidly, and by 1983 had a billion dollars in revenues, a rarity for a startup company that had never taken part in mergers or acquisitions in its first decade. Smith cited his reasons for choosing Memphis International Airport included its location near the mean population center of the country and its lack of frequent inclement weather.
He began formal operations in 1973, when he moved operations to Memphis. While his professor didn't think much of the idea, Smith pressed on. He drew up the company's concept in a term paper at Yale, in which he called for a system specifically designed for urgent deliveries. The company was founded in Little Rock, Arkansas in 1971 as Federal Express Corporation by Frederick W. History Foundation and early history įor history prior to its 1997 reorganization, see FedEx Express.
FedEx today is best known for its air delivery service, FedEx Express, which was one of the first major shipping companies to offer overnight delivery as a flagship service. The name "FedEx" is a syllabic abbreviation of the name of the company's original air division, Federal Express, which was used from 1973 until 2000. FedEx Corporation, formerly Federal Express Corporation and later FDX Corporation, is an American multinational conglomerate holding company focused on transportation, e-commerce and services based in Memphis, Tennessee.
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