FedEx Corporation (FedEx Express) (Memphis) has announced it has permanently retired 15 aircraft and 21 related engines as it continues to rationalize capacity and modernize its aircraft fleet to more effectively serve FedEx Express customers.
The company continued;
The permanent retirement of aircraft and related engines includes:
Seven McDonnell MD-11F airframes and 12 related engines;
Three Airbus A300 airframes and three related engines;
Four Airbus A310-300 airframes and three related engines; and
One McDonnell Douglas MD10-10 airframe and three related engines.
The impact of retiring these aircraft, engines and related parts resulted in a non-cash impairment charge of $246 million recorded in May 2015.
FedEx has also adjusted the retirement schedule of an additional 23 airframes and 57 engines.
FedEx also recognized in May 2015 $30 million in cash charges associated with these actions.
These combined retirement changes will not have a material impact on near-term depreciation expense.
FedEx Express fleet as of February 28, 2015:
1 – February 28, 2015 Boeing 757 count includes 21 aircraft that are not currently in operation, 5 of which are in the modification process and 16 of which are awaiting modification.
2 – As of February 28, 2015 Boeing 767 count includes 3 aircraft that are not in operation and are in the modification process. As of February 28, 2015, FedEx is committed to purchase 44 B767Fs. Aircraft to be delivered statistics include certain lease additions and expirations.
3 – As of February 28, 2015, FedEx is committed to purchase 18 Boeing 777Fs.
Copyright Photo: Michael B. Ing/AirlinersGallery.com. Seven MD-11Fs were retired. McDonnell Douglas MD-11 (F) N595FE (msn 48553) climbs away from Anchorage.