June 4, 2013

FedEx accelerates aircraft retirements

FedEx Corp. released that it had permanently retired or will accelerate the retirement of 86 aircraft and 308 related engines as it continues to modernize its aircraft fleet and improve the global network of FedEx Express. The permanent retirement of aircraft and related engines includes: two A310-200 aircraft and four related engines, three A310-300 aircraft and two related engines and five MD10-10 aircraft and 15 related engines. The impact of retiring these aircraft, engines and parts resulted in an impairment charge of $100m recorded in May 2013. In addition, FedEx will accelerate by several years the retirement of 47 MD10-10 aircraft and 172 related engines, 13 MD10-30 aircraft and 55 related engines and 16 A310-200 aircraft and 60 related engines. As of July 1, 2013, FedEx Express will complete the final retirement of the B727-200 fleet.

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