Exhibit 23.2









                    Consent of Independent Public Accountants

As independent public accounts, we hereby consent to the incorporation by
reference in this S-8 Registration Statement of FDX Corporation of our reports
dated June 30, 1997 included (or incorporated by reference) in Federal Express
Corporation's Form 10-K for the year ended May 31, 1997, and to all references
to our Firm included in this registration statement.



Arthur Andersen LLP



Memphis, Tennessee
   January 22, 1998.