FedEx moves to retire aircraft at faster pace as used aircraft market remains on a relative high due to low fuel cots

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By TESTCustomwebLP TESTCustomwebLP June 3, 2015 21:24

FedEx moves to retire aircraft at faster pace as used aircraft market remains on a relative high due to low fuel cots

FedEx has retired 15 aircraft and 21 related engines as: 7 MD11s and 12 related engines; 3 A300s and 3 related engines; 4 A310-300s and 3 related engines; and 1 MD10-10 and 3 related engines. The impact of retiring these aircraft and associated assets has resulted in a non-cash impairment charge of US$246m 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 US$30m in cash charges associated with these actions. These combined retirement changes will not have a material impact on near-term depreciation expense.

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By TESTCustomwebLP TESTCustomwebLP June 3, 2015 21:24