FedEx Set to Raise Air Shipping Rates

MEMPHIS, Tenn. (AP) -- FedEx Corp. says it will increase its air shipping rates in 2008 by an average of 4.9 percent.

Listed rates for packages and freight carried by the cargo airline FedEx Express will go up by 6.9 percent. But the increase is offset by a 2 percent reduction in the fuel surcharge.

It applies to air shipping within the U.S. and items exported abroad.

The Memphis-based company says rates are also expected to go up for ground shipping in the U.S. Those increases will be announced later this year.

Another change in billing will come for importers flying shipments into the country. They will now pay a standard rate in U.S. dollars, rather than foreign currency.

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