Air cargo carrier FedEx has announced plans to reduce its fleet by 14 aircraft. FedEx currently operates 670 aircraft. According to a document filed with the U.S. Securities and Exchange Commission (SEC), the freight carrier indicated that 10 A310-200s and four MD10-10s would be permanently removed from service by May 31, 2009.
Yesterday's SEC filing stated, "This decision reflects management's ongoing efforts to optimize the company's express network in light of continued excess aircraft capacity due to weak economic conditions and the expected delivery of newer, more fuel-efficient aircraft in fiscal year 2010."
The company has plans to replace the aircraft with newer, more fuel-efficient aircraft in the coming fiscal year.