FedEx cuts 29 aircraft from fleet due to reduced demand.
TL;DR Summary
FedEx plans to retire 29 aircraft from its fleet this year, including nine additional MD-11 freighters. However, the company's mainline fleet will grow by 10 aircraft this year as Boeing planes ordered years ago are delivered. FedEx reduced global flight hours by 12% year over year during the fourth quarter, and the overall fleet size decreased by 10 units during the fiscal year. FedEx currently has 700 aircraft, including 407 mainline aircraft and 293 feeder aircraft.
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