Fears about the financial health of the US Postal Service may delay FedEx’s decision on whether to buy more planes from Boeing and Airbus, according to a report from Bloomberg:
FedEx’s progress on an order decision may be slowed by concern that the economic outlook is weak and the risk of losing U.S. Postal Service business, two people said. FedEx is the largest contractor for the Postal Service, which said this week it is pressing suppliers for $1 billion in annual savings as it faces possible insolvency as soon as Sept. 30.
Bloomberg reported earlier this week that USPS efforts to rein in contracting expenses could have an adverse impact on private sector firms across the country, including FedEx.