SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_______________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of l934
Date of Report: October 25, 1995
(Date of earliest event reported)
_______________________
FEDERAL EXPRESS CORPORATION
(Exact name of registrant as specified in its charter)
Delaware
(State of Incorporation)
1-7806 7l-0427007
(Commission File Number) (IRS Employer Identification No.)
2005 Corporate Avenue, Memphis, Tennessee 38l32
(Address of principal executive offices)
Registrant's Telephone Number, including area code:
(901) 369-3600
ITEM 5. OTHER EVENTS
On October 25, 1995, Federal Express Corporation (the "Registrant")
announced, by the press release attached as Exhibit 20.1 to this report and
incorporated herein by reference, that the Air Line Pilots Association
(ALPA) has rejected the National Mediation Board's proffer of arbitration.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits.
20.1 Registrant's press release, dated October 25, 1995.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
FEDERAL EXPRESS CORPORATION
By: /s/ CHARLES M. BUCHAS, JR.
-----------------------------
Charles M. Buchas, Jr.
Vice President and Treasurer
Dated: October 27, 1995
EXHIBIT INDEX
Exhibit Description of Exhibit
20.1 Registrant's press release, dated October 25, 1995.
EXHIBIT 20.1
[COMPANY LETTERHEAD]
Contact: Tom Martin Federal Express
901/395-3490
FOR IMMEDIATE RELEASE
NATIONAL MEDIATION BOARD RELEASES FEDERAL EXPRESS
AND THE AIR LINE PILOTS ASSOCIATION FROM MEDIATION
Memphis, TN (October 25, 1995) -- Federal Express Corporation (FedEx) was
notified today that the Air Line Pilots Association (ALPA) has rejected the
National Mediation Board's proffer of arbitration. Based on that rejection,
the National Mediation Board (NMB) has announced that a 30-day cooling off
period will begin October 26, 1995 and that cooling off period will expire at
12:01 a.m. EST November 25, 1995.
"Our objective has been to reach a mutually-beneficial agreement prior to a
"cooling off" period, but ALPA'S demands have been unworkable, given the
competitive environment in which we operate," said William J. Razzouk,
executive vice president - Worldwide Customer Operations. "In our
negotiations, FedEx's goal has been to reach a balanced agreement that meets
the needs of our pilots, other employees, customers and shareholders."
During the cooling off period negotiations may continue, but no "self-help"
action is permitted by either ALPA or FedEx. ALPA cannot legally take job
actions, and FedEx cannot impose terms and conditions of
-more-
employment or lock out ALPA pilots during this period. The cooling off period
may be extended beyond 30 days if both sides agree to do so. At the end of
the cooling off period, negotiations may continue, but self help by either
party is permitted.
"We feel confident that our pilots will honor their responsibilities and
continue to play their important role in satisfying our customers," said
Razzouk. "We are also hopeful that we can reach an agreement. In the
interim, we believe all of our employees will continue to concentrate on what
we do best -- delivering the best service in the industry."
ALPA was certified as the bargaining agent for FedEx pilots in June 1993.
Negotiations toward a contract have been ongoing since May 1994 when FedEx and
ALPA first exchanged proposals toward a collective bargaining agreement.
Since that time, there have been a number of negotiating sessions, including
recent sessions with NMB mediators in Cincinnati and Washington. The NMB has
mediated the negotiations since October 1994.
Federal Express is the world's largest express transportation company,
providing fast and reliable services for nearly 2.4 million items in 204
countries each working day. The company employs more than 113,000 people and
operates more than 500 aircraft, 35,000 vehicles and nearly 180,000
Powership[Registered] and FedEx Ship[Trademark] automated systems in its
integrated global network. Federal Express reported revenues of $9.4 billion
for its fiscal year ended May 31, 1995.
