Not Christmas but maybe the bid..
FedEx Delays Freighters
12/22/2008
Thomas L. Gallagher
Web Editor
FedEx will delay delivery of 11 Boeing freighters for up to 17 months.
In December 2008, FedEx reached an agreement with Boeing to defer the delivery of the B777F aircraft, the company said in a footnote to its quarterly report filed last week with the SEC.
On the revised delivery schedule, FedEx will accept delivery of four B777Fs in 2010, as previously agreed. In 2011, Boeing will deliver only four, rather than the 10 originally planned. Five more will arrive in 2012 and two in 2013.
The revised payment schedule will result in the deferral of approximately $275 million of commitments from 2009 to future periods.
The company expects capital expenditures to be approximately $2.4 billion in 2009 and to include spending for aircraft and related equipment at FedEx Express, facility expansion at FedEx Ground and revenue equipment at FedEx Freight.