Transcription of 2020 Annual Report
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2020 Annual Report
2020. Annual Report Building the network for what's next To our shareowners, In last year's letter, I described fiscal year 2019 as a year of challenge and change with more to come in fiscal year 2020, as was certainly the case especially with the emergence of COVID-19. When I discussed confronting challenges and embracing opportunities in last year's letter, I covered three enormously consequential developments for fedex , which all merit reiterating: >> Trade disputes that began in calendar year 2018 and accelerated in calendar year 2019;. >> Strategic decision-making to position fedex as the dominant e-commerce player; and >> Strategically timed aircraft and hub modernization programs. Challenge & change trade disputes: Trade is an essential element of prosperity. Arguably one of the biggest changes that has increased prosperity since the end of World War II has been the opening of global markets and the growth of trade. fedex serves more than 220 countries and territories, making us an enormous enabler and beneficiary of free trade, and as we finished fiscal year 2018, fedex experienced one of the strongest quarters in the company's history.
> FedEx Express stood up a special weekend operation — quickly adding 28 flight legs — to help the U.S. government move COVID-19 test specimens from more than 50 remote drive-through testing centers across 12 states. > FedEx Ground quickly ramped up its operation to manage peak-like e-commerce volumes to support U.S.
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