After FedEx, crooks drop DHL name to cheat duo of 45 lakh

UPS to Become US Postal Service’s Main Air Cargo Provider

UPS to Become US Postal Service’s , Main Air Cargo Provider. On April 1, United Parcel Service announced that it will replace FedEx as the primary air cargo provider for the USPS, CNBC reports. . On April 1, United Parcel Service announced that it will replace FedEx as the primary air cargo provider for the USPS, CNBC reports. . FedEx is walking away from a 22-year partnership after failing to secure a better contract with the agency. . FedEx is walking away from a 22-year partnership after failing to secure a better contract with the agency. . In fiscal year 2023, USPS paid FedEx $1.73 billion for its services, down from the $2.4 billion FedEx received in fiscal year 2020. The decrease in payments was partially due to the postal service using more economical trucks in place of planes, CNBC reports. . The parties were unable to reach agreement on mutually beneficial terms to extend the contract, FedEx, via securities filing. Since FedEx will lose nearly $2 billion in annual business from letting go of the contract, . hundreds of pilots will likely lose their jobs, CNBC reports . Following the announcement, UPS shares increased 1.4% while FedEx stock dropped 1.6%. FedEx's current contract is set to expire on Sept. 29