Air, Feature

We’ll go after your business, French president warns Brexit Brits

[ October 18, 2016   //   ]

France’s President Francois Hollande vowed to make France “an attractive territory” for businesses that did not want to stay in the UK after it leaves the European Union. At a ceremony at Paris-Charles de Gaulle airport to mark the start of a major hub extension for FedEx, he told assembled guests that the UK’s ‘Brexit’ decision was the start of “a new era”. France, he pledged, “would compete for business…we will make our territory more attractive” and the UK “will have to live with the consequences.”

Brexit would be the opportunity for France to be a better foothold for the rest of Europe, said the President.

In order to attract or retain companies like FedEx, his government had already made changes to tax and VAT rules to make the country a more attractive investment location, he added.

US-owned FedEx has just announced a major extension to its hub in Paris, the largest of its kind in Europe and one of three major global hubs for the express freight giant. A €200m capital investment  and new IT systems will boost package sorting capacity by 40%. Construction is due to begin in Summer 2017 and the extension is due to go into operation by 2019.

TNT, recently acquired by FedEx will also open a ground hub just north of Paris along with three ground depots to improve connectivity with France and the rest of the world.