Right from the earnings call:
Longer term by fiscal '22 year end, the replacement of 159 A310 and MD-10 aircraft will be complete. This will lead to a significant reduction in the corporation's ongoing capital expenditures on both an absolute basis and percent of revenues from FY '23 forward.
And....
Additionally, we're permanently retiring our fleet of 10 A-310s. The reduction in flight hours would allow us to temporarily park 14 aircraft by the end of fiscal year '20. We will also permanently retire another 29 aircraft over the next 30 months
And...
I think you have any idea how big 8% reduction of flight hours is, but it's tremendously large. We're not going to grow our fleet. We're just replacing it. We're tightening it up and reducing flight hours.
Last edited by magic rat; 12-17-2019 at 11:21 PM.