FedEx accelerates aircraft retirements

At the beginning of June, FedEx Corp announced the permanent retirement of fifteen freighter aircraft, along with twenty-one related engines. The company said it made the move as it “continues to rationalize capacity and modernize its aircraft fleet.” The permanent retirements include:

• Seven MD11 airframes and 12 related engines

• Three A300 airframes and three related engines

• Four A310-300 airframes and three related engines

Most of these aircraft have been parked for some time, so the announcement does not mean that FedEx’s operating fleet decreased by fifteen units on 30 May, but rather that the aircraft have been removed from the company’s balance sheet (with a concomitant $276 million impairment charge for the 2015 fiscal year).

FedEx also said it had “adjusted the retirement schedule” of an additional twenty-three airframes and fifty-seven engines, which we take to mean that the aircraft and engines in question will be retired earlier than planned. Among them will likely be many MD-10-10Fs and MD-10-30Fs which FedEx is replacing with 767-300Fs.

FedEx’s current active operating fleet (that is, not including freighters still officially in the fleet but parked) is made up of 338 units. This includes twenty-five 777Fs, fifty-six MD-11Fs, thirteen MD-10-30Fs, twenty 767-300Fs, thirty-six MD-10-10Fs, sixty-eight A300-600Fs, twenty A310-200Fs/-300Fs, and one hundred 757-200Fs.

In addition to the 777Fs and 767Fs FedEx has on order with Boeing, it also has two more 767-300Fs (recently acquired from Silk Way) currently being repainted, and twenty pax 757-200s in or awaiting conversion to freighter configuration.

To learn more about freighter fleet dynamics, click here.