FedEx Express MD-11F. By Rob Finlayson FedEx said it is seeking $1.7 billion in annual profitability improvement by 2016 and indicated that cuts and changes to its air-intensive FedEx Express unit will be central to achieving the earnings increase. FedEx’s net profit for its 2012 fiscal first quarter ended Aug. 31 was down 1% year-over-year to $459 million, a rare earnings decrease for the company (ATW Daily News, Sept. 19). Net income for its 2011 fiscal year ended May 31 was ...

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