American Freightways, Viking Raise Rates 5.9%

American Freightways Inc. and Viking Freight Inc., the two less-than-truckload companies that comprise FedEx Freight, will implement general rate increases of approximately 5.9%, effective Aug. 6, 2001.

Rate increases apply to interstate and intrastate traffic, Canada transborder and Mexico border shipments. Also, additional adjustments will apply to other shipments.

Together the two companies provide direct service to virtually all U.S. zip codes, and provide service to North, Central and South American and the Caribbean.

These increases follow a 4.9% increase by Yellow Corp. last week (See story, July 5).

Many trucking companies traditionally plan rate increases for August, in time for the heaviest shipping season of the year.

American and Viking say they have confidence that they will not lose customers de-spite the combination of rate increases and a slow economy because companies will want to keep their inventories down.

FedEx Corp. (FDX) is ranked number No. 2 in the Transport Topics 100 list of U.S. trucking companies, based on 1999 data.

(Click here for the press release from Viking.)

(Click here for the press release from American.)

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