UPDATE 1-FedEx signs new $10.5 bln contract with USPS

April 23 Tue Apr 23, 2013 5:22pm EDT

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April 23 (Reuters) - FedEx Corp said its FedEx Express subsidiary has entered into a seven-year express air transportation contract with the United States Postal Service for about $10.5 billion.

FedEx's current contract ends in September 2013, and the new contract will begin in October 2013.

The company on Tuesday also launched a new service to let customers select from a range of options to schedule dates, locations and times of delivery. Rival UPS began offering its "UPS My Choice" service more than a year ago.

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