ISTAT News | 14 August 2025

ISTAT Remembers Frederick W. Smith

ISTAT mourns the passing of Frederick W. Smith, visionary founder of FedEx and recipient of the 2005 ISTAT Award. A pioneering force in the aviation and logistics industries, Smith revolutionized global commerce by turning an idea he first outlined in a college paper into the world’s largest cargo airline.

Under his leadership, FedEx introduced the hub-and-spoke system and overnight delivery service, transforming the speed and efficiency of package transport worldwide. Smith’s legacy extended far beyond business innovation. He was a decorated Marine Corps veteran, a passionate advocate for aviation and a recent participant in the ISTAT Freighter Forum in Miami, where he shared insights during a fireside chat with Robert Convey of Aeronautical Engineers Inc. (AEI).

Smith’s impact on the aviation industry is enduring, and he will be remembered not only for the company he built but also for the vision, tenacity and leadership that inspired a generation. ISTAT extends its deepest condolences to his family, colleagues and the countless individuals influenced by his remarkable life.

Steve F. Udvar-Hazy, Chairman of the Board and Founder, Air Lease Corporation

“Fred was a dreamer, innovator, risk-taker and visionary, who always valued long discussions and exchanges on fleet strategy with me as his trusted friend and advisor.”

David P. Sutton, Former Managing Director of FedEx Aircraft Development, Acquisition and Sales

“My chairman, Fred Smith, a man of talent, intellect, honor, integrity and generosity, had a huge influence on aviation and business in general. His success in founding and leading FedEx will surely go down as one of the most noteworthy business accomplishments of our lifetime. Fred was a wonderful mentor and great friend to me. Always personable and upbeat, and with a wry sense of humor. He loved aviation and was extremely knowledgeable about aircraft, their specifications and performance.”

Steve Fortune, Principal, Fortune Aviation

“I was a newly hired aircraft market analyst working for Ron Anderson in aircraft acquisitions and sales. Late one afternoon, Ron asked me to take a document over to Fred’s office. When I got there, there was no one around. Fred saw me standing outside his office and waved me in. After handing him the document, he asked me to have a seat. We had a 10- or 15-minute conversation where he asked me for my views on the market. I was really impressed that he would take the time to ask my views, a junior employee. Over the years, he called me at home several times to discuss the market. I understand he often reached out to employees to get their views. I always considered Fred as my mentor, as I am sure he was to many others.”