FedEx has accelerated the retirement of 18 Airbus A310-200 freighters and its 26 engines and six Boeing MD-10-10 cargo aircraft with 17 engines. The majority of these aircraft are parked.
David Bronczek, FedEx Express' president and CEO, said the company will offer more information on the new cost structure and operations plans between late September to late December 2012. The cargo operator plans to hold its next earnings call on 19 June for the fourth quarter 2012.
FedEx did not offer comment on which engines types will be retired. Flightglobal's Ascend database shows that its Airbus A310 fleet is powered by General Electric CF6, Pratt & Whitney JT9D or PW4000 engines. Records show the MD10-10 aircraft having GE CF6 engines.
With this announcement, the shipping giant is now retiring a total of 50 aircraft during FY2012 and FY2013. FedEx retired five Boeing 727-200 aircraft in the fourth quarter 2012 and plans to drop 21 more Boeing 727s in FY2013.
FedEx says it will also accelerate the depreciation of 31 additional Boeing MD10-10s, 18 additional Airbus A310s, four Boeing 727s and one Boeing MD10-30.
FedEx says that decided to accelerate the aircrafts' retirements based on the cargo volume it anticipates and the delivery of more efficient Boeing 767-300 and Boeing 757-200 replacement aircraft. Ascend data shows that FedEx has 27 more fuel-efficient Boeing 767-300s on order, with the first delivery in 2014.