July 17, 2017 / 1:27 PM / in 5 months

BRIEF-FedEx says all TNT Express depots, hubs and facilities are operational

July 17 (Reuters) - Fedex Corp

* FedEx Corp - as of date of 10-K filing, all TNT Express depots, hubs and facilities are operational and most TNT services are available - SEC filing

* FedEx - 2018 results will be negatively affected by TNT Express integration, restructuring activities, as well as impact of TNT Express cyber-attack‍​

* FedEx Corp - manual processes are being used to facilitate a significant portion of TNT Express operations and customer service functions‍​

* FedEx Corp - cannot estimate when TNT Express services will be fully restored

* FedEx Corp - still evaluating the financial impact of the cyber attack, but it is likely that it will be material​

* FedEx - experienced loss of revenue due to decreased volumes at TNT Express, incremental costs from contingency plans, remediation of affected systems

* FedEx - TNT Express integration expected to be completed by the end of 2020

* FedEx Corp - TNT ​customers “are still experiencing widespread service delays, including invoicing”

* FedEx Corp - do not have cyber or other insurance in place that covers TNT cyber attack‍​

* FedEx Corp - cyber-attack may also materially impact disclosure controls, procedures, internal control over financial reporting in future periods‍​

* FedEx Corp says experienced loss of revenue due to decreased volumes at tnt express -sec filing

* FedEx Corp - experienced loss of revenue also due to incremental costs for implementation of contingency plans, remediation of affected systems‍​‍​ Source text: (bit.ly/2tiQUWF) Further company coverage:

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