FedEx Express to Purchase 19 Boeing 767s, Improve Fuel Efficiency 30%
FedEx Express has agreed to purchase 19 additional B767-300 aircraft from the Boeing Company. The 767s are about 30 percent more fuel-efficient compared to the MD10s that they will replace, and should reduce operating costs more than 20 percent, according to FedEx Express. They also increase efficiency by sharing spare parts, tooling and flight simulators with Boeing 757s, which are part of the FedEx air fleet.
Also as part of the agreement, Boeing has agreed to convert four Boeing 777s (pictured) — two in fiscal 2016 and two in fiscal 2017 — to 767 equivalent purchase value. FedEx Express currently operates 19 long-range 777 freighters and now has committed to purchase an additional 24 777s.
The 767s will be delivered from fiscal 2015 to 2019 and replace current MD10 and A310-200 aircraft. FedEx Express says the impact to capital spending in fiscal 2013 and fiscal 2014 is immaterial, and expects fiscal 2013 capital spending to remain at $3.9 billion.
These planes are in addition to a FedEx Express agreement with Boeing, announced in December, to purchase 27 Boeing 767s for delivery between fiscal 2014 and 2018, and delay delivery of a number of 777s.
In June, FedEx announced the permanent retirement from service of 18 A310 aircraft and 26 related engines, as well as six MD10 aircraft and 17 related engines, bringing the total to 50 aircraft to be retired by the end of fiscal 2013.
In 2008, FedEx Express announced plans to reduce aircraft emissions and increase vehicle fuel efficiency by 20 percent by 2020.
In addition to its planes, FedEx Express has taken steps to improve efficiency of its delivery trucks. In June, UQM Technologies began supplying the PowerPhase HD 220 electric drive systems to Boulder EV to build delivery vans for FedEx Express. As part of this initiative, Boulder EV will use the PowerPhase HD 220 systems in its composite delivery van designed specifically as an all-electric vehicle.
FedEx Express’s vehicle fleet was 16.6 percent more fuel efficient in 2011 than it was in 2005, the company announced in May.
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