By Imani Moise
Customers waiting for packages abroad are experiencing significant delays as FedEx Corp. continues to reel from the effects of a June 27 cyberattack.
The logistics company said Monday in a securities filing that the global cyberattack known as Petya significantly affected the operations of its TNT Express business, which has delivery operations in the Middle East and Africa, Asia-Pacific, Europe and South America.
FedEx said while TNT depots, hubs and facilities are operational, it has resorted to manual processes to facilitate a significant portion of operations and customer service functions.
"We cannot estimate when TNT services will be fully restored," the company said.
The company said the cyberattack will have a "material" financial impact on its operations. FedEx said it doesn't have cyber insurance or any other insurance to cover the attack.
Shares in FedEx fell 2.6% to $213.38 in morning trading.
FedEx acquired TNT Express BV last year for $4.8 billion, with the deal being the largest acquisition in FedEx's history. The Netherlands-based TNT contributed 12% to FedEx's top line in the prior fiscal year.
Write to Imani Moise at [email protected]
Corrections & Amplifications
This story was corrected at 1:37 p.m. ET because it incorrectly stated the location of TNT Express's headquarters as the Ukraine in the last paragraph. The company is based in the Netherlands.