EXHIBIT 23.2



                    Consent of Independent Public Accountants


As independent public accountants, we hereby consent to the incorporation by
reference in this Amendment No. 1 to Form S-3 Registration Statement of FedEx
Corporation of our reports dated June 27, 2001 included in the FedEx
Corporation and Federal Express Corporation Form 10-K filings for the year
ended May 31, 2001, and to all references to our Firm included in this
Registration Statement.

/s/ Arthur Andersen LLP
Memphis, Tennessee
May 1, 2002