< PrevNext > 25. FedEx Memphis Share 2016 U.S.-Booked Air Volume: $137 millionConsolidated U.S. TMC: BCD TravelU.S.-booked air spend at global delivery services firm FedEx increased sharply in calendar year 2016 amid increasing sales and travel activity and the €4.4 billion acquisition of European competitor TNT Express in May 2016. Revenue for FedEx's fiscal year 2017, which ended May 31, 2017, increased 20 percent year over year to $60.3 billion. Operating income increased 64 percent to $5 billion, and operating expenses increased 17 percent to $55.3 billion. In its 2016 fiscal year, the company generated 63,944 metric tons of carbon dioxide equivalent via air travel and rental car use. That figure does not include TNT Express emissions. FedEx's fiscal year 2015 business travel emissions, not including rental car use, were 50,897 metric tons. The integration of TNT Express has increased FedEx travel volume. FedEx had more than 400,000 employees in May 2017, up from 323,000 one year prior.