September 29, 2010 / 6:21 PM / 9 years ago

UPDATE 1-FedEx to raise rates on Express, freight

* Express rates to rise 3.9 percent on average

* Freight rates to rise 6.9 percent

* Shares up 1.1 percent

NEW YORK, Sept 29 (Reuters) - FedEx Corp (FDX.N), the world’s largest cargo airline, said it would raise shipping rates on its Express and Freight services as the company hosted investors at its Memphis headquarters on Wednesday.

Rates for shipping through the company’s Express division, which includes the airline and the high-margin International Priority service, will go up on average 3.9 percent for U.S. domestic and export services starting Jan. 3.

Starting Nov. 1, rates will rise 6.9 percent on certain trucking services.

FedEx told investors that its express service is back on track for double-digit profit margins.

The company will announce pricing changes for its ground services later this year.

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