FedEx to trim 14 jets from fleet amid weak economy
FedEx to trim 14 jets from fleet amid weak economy
Monday, April 13, 2009
(04-13) 14:01 PDT New York (AP) --
FedEx says it will permanently remove 14 jets from service as part of an overall plan to reduce capacity amid weak economic conditions. The Memphis, Tenn.-based company will remove the jets — 10 Airbus A310s and four Boeing MD10s — by May 31, along with some excess engines. It will take a $180 million charge for the move.
FedEx Corp. expects to take delivery of newer, more fuel-efficient aircraft in fiscal year 2010, which begins June 1.
The package delivery company says it still has a "limited amount" of aircraft grounded because of overcapacity. It warned that more cutbacks will result in more charges.