EXHIBIT 23.1

               CONSENT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS



                         Consent of Independent Auditors

We consent to the incorporation by reference in the Registration Statements
(Form S-8 Nos. 2-95720, 33-20138, 33-38041, 33-55055, 333-03443, 333-45037,
333-71065, 333-34934, 333-55266 and Form S-3 No. 333-86342) of FedEx Corporation
and in the related Prospectuses, of our reports dated June 24, 2002, with
respect to the consolidated financial statements and schedule of FedEx
Corporation included in this Annual Report (Form 10-K) for the year ended May
31, 2002.

/s/ Ernst & Young LLP
July 19, 2002
Memphis, Tennessee