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Press Release
Memphis, Tenn.—As FedEx prepares to report third-quarter fiscal 2026 earnings after the market closes Thursday, the pilots who operate the company’s global air network are urging investors to look beyond the headline results and assess the condition of the operation behind them.
FedEx is expected to report solid quarterly performance following the peak holiday shipping season, with continued emphasis on cost reduction and network changes. The company has emphasized strong execution through the peak shipping season. Pilots say delivering that performance required significant adjustment across the network and placed greater demands on frontline crews.
“Earnings can show progress,” said Capt. Jose Nieves, chair of the FedEx ALPA Master Executive Council. “The more important question is whether the operation behind those numbers is built to perform consistently over time. That comes down to stability, margin, and how the workforce is supported.”
During the quarter, crews operated through schedule disruption and ongoing structural changes across the network. Maintaining service required constant adjustment and increased reliance on frontline execution.
Pilots say this pressure is now showing up in measurable ways. Recent months have seen pilot resignations reach historic levels, a trend they say reflects the cumulative impact of current conditions and a growing disconnect between how the operation is run and what the workforce expects. Pilots say this raises concerns about long-term staffing stability.
FedEx also continues to advance a strategy centered on consolidation and cost targets tied to its broader transformation initiatives. Pilots caution that efficiency must be balanced with sufficient operational margin to absorb disruption without shifting risk to the workforce.
“A system can appear efficient until it is tested,” Nieves said. “When margin is reduced too far, the burden shifts to the people running the operation. That is not a sustainable model for a global, time-sensitive network.”
A protracted contract process remains unresolved, leaving a disconnect between the company’s external messaging and the conditions under which pilots are operating.
“FedEx pilots have delivered through significant change and increasing complexity,” Nieves said. “This professionalism has helped steady the operation. Long-term performance will depend on restoring alignment and building a structure that supports both the workforce and the network.”
Pilots say an updated agreement will be necessary to strengthen reliability, improve predictability, and support the company’s long-term performance.
Founded in 1931, ALPA is the largest airline pilot union in the world and represents more than 80,000 pilots at 42 U.S. and Canadian airlines. Visit ALPA.org or follow us on X @ALPAPilots.
CONTACT: FDX Media at FDXMedia@alpa.org
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