EXCLUSIVE-FedEx CFO - FY09 capex likely to be similar to FY08

MEMPHIS, April 11 (Reuters) - Package delivery company FedEx Corp's (FDX.N: Quote, Profile, Research) capital expenditures for its next fiscal year will likely be similar to the roughly $3 billion allocated for the current year, a top executive said on Friday.

"We will continue reasonably aggressive investments in our international business as we feel that provides the best value for our shareholders," Chief Financial Officer Alan Graf told Reuters in an interview at the company's Memphis headquarters.

FedEx's fiscal 2008 fourth-quarter ends May 31. Graf stressed that the company has room to cut capital expenditures further if the U.S. economy continues to deteriorate, as only some 35 percent to 40 percent of its expenses are fixed.

"I'm thrilled about the long-term outlook. I'm less than thrilled about the current economic environment," Graf added.

(Reporting by Nick Carey, editing by Richard Chang)