FedEx Express firmed up options with Boeing on June 22 to purchase twenty more 767-300Fs, according to FedEx President and Chief Operating Officer Raj Subramaniam in an analyst call discussing the integrator’s fourth-quarter results for its 2021 fiscal year, which ended May 31 [FATs 006351-6370].
The new aircraft are due to be delivered between June 2023 and June 2025.
Apart from the firm commitments, FedEx also offered a rare glimpse at the options it holds to potentially further grow its fleet of 767-300Fs and 777Fs.
FedEx said that, as of June 24, it held options with Boeing to purchase an additional fifty 767Fs and up to twenty-three 777Fs. The integrator’s 767F fleet, already the world’s largest, surpassed 100 units only in May 2021, but if FedEx were to exercise all outstanding options, its 767 contingent would exceed 200 units.
At the end of its third quarter, on Feb. 28, FedEx had thirty-five 767-300Fs outstanding that it expected to receive until June 2024. Having taken delivery of two 767-300Fs in June, FedEx now has fifty-three of the medium widebodies on order with Boeing.
As of May 31, Boeing’s tally for FedEx’s unfilled orders stood at thirty 767-300Fs and six 777Fs. However, Cargo Facts believes that six 777Fs Boeing attributed to an unidentified customer in a June 8 update to its order book are actually FedEx units; as of May 31, FedEx was committed to purchase twelve 777Fs, according to the company’s own fourth-quarter statistics.
FedEx recently retired its last MD-10-10F.
FedEx’s fleet growth comes after reporting another strong quarter, with total revenue up 30% YoY to $22.6 billion and adjusted net income more than doubling to $1.36 billion.
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