UPS wins US Postal Service account
- Latest News
- Tuesday, 02 April 2024
United Parcel Service (UPS) has won the United States Postal Service's 'primary air cargo provider' account, ending rival FedEx's more than 20-year partnership with USPS.
The 5.5-year-minimum contract is effective September 30.
The switch is not seen as a huge loss for FedEx; USPS represented about four per cent of its annual revenue, according to Reuters.
FedEx’s Postal Service revenue fell to US$1.9 billion in 2022 after previously generating annual revenues of at least US$2 billion.