Exhibit 23.2

                         Consent of Independent Auditors


We consent to the reference to our firm under the caption "Independent
Accountants" and "Selected Historical Financial Data of American Freightways"
included in Amendment No. 1 to the proxy statement of American Freightways
Corporation that is made a part of the Registration Statement (Form S-4 No. 333-
51782) and Prospectus of FedEx Corporation for the registration of 10,512,427
shares of its common stock and to the incorporation by reference therein of our
reports dated January 20, 2000, with respect to the consolidated financial
statements of American Freightways Corporation incorporated by reference in its
Annual Report (Form 10-K) for the year ended December 31, 1999, and the related
financial statement schedule included therein, filed with the Securities and
Exchange Commission.

                                    /s/ Ernst & Young LLP

Little Rock, Arkansas
January 5, 2001