Summary
FedEx Corporation, through its subsidiary Federal Express Corporation, has entered into a significant supplemental agreement with The Boeing Company to expand its fleet modernization efforts. This filing details the purchase of an additional nine Boeing 767-300 Freighter (B767F) aircraft and the exercise of ten existing options for the same aircraft type, plus the acquisition of rights for 15 further options. This strategic move aims to replace older, less efficient aircraft like the MD10-10 and Airbus A310-200, with an expected delivery timeline spanning fiscal years 2015 to 2019. Notably, a portion of these new aircraft acquisitions is contingent on FedEx Express employees remaining covered under the Railway Labor Act (RLA). The agreement also includes an adjustment where four previously contracted Boeing 777-Freighter (B777F) deliveries will be converted to equivalent purchase value for B767F aircraft. This fleet enhancement underscores FedEx's commitment to operational efficiency and technological advancement within its air cargo network.
Key Highlights
- 1FedEx Express entered into a Supplemental Agreement with Boeing to purchase additional B767-300 Freighter (B767F) aircraft.
- 2The agreement includes the purchase of nine new B767F aircraft and the exercise of ten existing options.
- 3FedEx Express also secured the right to 15 additional B767F options.
- 4Four of these 19 additional B767F aircraft purchases are conditional on FedEx Express employees remaining covered by the Railway Labor Act (RLA).
- 5These new aircraft are slated for delivery between fiscal years 2015 and 2019.
- 6The B767F aircraft will replace older MD10-10 and Airbus A310-200 aircraft, enhancing fleet efficiency.
- 7Four contracted B777-Freighter (B777F) deliveries were converted to equivalent purchase value for B767F aircraft.