PARIS (Dow Jones)--France-KLM (AF.FR) has signed a letter of intent to sell two new Boeing Co. (BA) cargo 777 aircraft to FedEx Corp. (FDX), a spokesman for Air France told Dow Jones Newswires Friday.
The new aircraft haven't been delivered to Air France and the sale won't affect the number of flights conducted by Air France's cargo division which currently operates five cargo aircraft, the spokesman added.
He declined to give a price for the aircraft. The aircraft's list price is between $252.5 million and $260.5 million.
Air France has moved to cut down on its cargo capacity in reaction to the economic downturn, which has led to a slump in business. The airline aims to bring the cargo division to break-even levels in the fiscal year 2011-2012.
-By Mimosa Spencer, Dow Jones Newswires; +33 1 40 17 17 73;
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