UPS, FedEx Subpoenaed in Air-Cargo Probe

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PS Inc. and FedEx Corp. have each received federal subpoenas for documents as part of a Justice Department investigation into alleged price fixing in the air-cargo industry, Bloomberg reported.

UPS received the subpoena Friday while FedEx received its in late June, it revealed in a regulatory filing last week.

Both companies said they do not believe they are targets of the inquiry, Bloomberg reported.

U.S. and European Union officials said in February they were probing possible price fixing by at least 12 companies, including passenger carriers.

UPS is ranked No. 1 and FedEx is No. 2 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.