FedEx To Trim 14 Jets From Fleet Amid Weak Economy
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FDX
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.- Loading Comments...
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