FedEx Express will buy 19 more B767-300 freighters from Boeing as part of its ongoing fleetmodernisation and restructuring, and has scaled back its B777 acquisition plans by four
aircraft.The 19 B767s will be delivered from fiscal year 2015 to 2019 and will replace older MD-10 andA310-200 aircraft. The B767s offer similar capacity as the MD10s but are 30 per cent more fuelefficient and reduce unit operating costs by more than 20 per cent. The order value was notdisclosed.
Last December, FedEx already ordered 27 new B767Fs for delivery from 2014 to 2018. At that time,it also delayed delivery of 11 B777s and said it would continue to operate intercontinental MD-11sfor longer.
As part of the latest agreement, Boeing has agreed to convert four Boeing 777s — two in fiscal2016 and two in fiscal 2017 — to 767 equivalent purchase value. FedEx Express currently operates19 long-range 777 freighters and is now committed to purchase an additional 24 777s.
FedEx said the impact from the B767 order to capital spending in fiscal 2013 and fiscal 2014was immaterial, and estimated fiscal 2013 capital spending remained at $3.9 billion.
The latest order follows last month’s announcement that 18 A310s and six MD10s will bepermanently taken out of service, meaning that 50 aircraft in total, including 26 B727s, willretired by the end of fiscal 2013.
“FedEx Express is positioning itself for more profitable growth by modernising its aircraftfleet and better aligning its US domestic air network to match current and anticipated shipmentvolumes,” said Dave Bronczek, president and chief executive officer of FedEx Express.
The company is due to present detailed plans about its future US domestic air network size andstructure to analysts in October.
