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                                                                    EXHIBIT 23.3


                         CONSENT OF INDEPENDENT AUDITORS


We consent to the reference to our firm under the caption "Experts" and to the
incorporation by reference in the Registration Statement (Form S-3) and related
Prospectus of FedEx Corporation for up to $1,000,000,000 of unsecured debt
securities and common stock of our report dated January 19, 2001 (except Note 7,
as to which the date is February 9, 2001), with respect to the financial
statements of American Freightways Corporation included in the Registration
Statement (Form S-4 No. 333-59834) and related Prospectus of FedEx Corporation
filed with the Securities and Exchange Commission on April 30, 2001.



/s/ Ernst & Young LLP
Memphis, Tennessee
April 12, 2002