FedEx orders 24 freight planes from Boeing in $6.6bn deal

FedEx Express, a division of global package delivery company FedEx Corp, has ordered 24 medium and large freight planes from Boeing in a deal valued at $6.6bn.

The deal will see FedEx acquiring 12 Boeing 767 Freighters and 12 Boeing 777 Freighters as the firm looks to enhance its international transportation capabilities in the wake of growing demands within the ecommerce industry.

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Global air freight is forecast to increase by up to 5% this year, having already risen 10% during 2017.

“We are taking another positive step in our fleet modernization program as we add more efficient, lower emission aircraft to our global fleet,” said David Cunningham, President and CEO of FedEx Express. 

“The Boeing 767 and 777 Freighters have brought greater efficiency and reliability to our air operations.”

The 777 is the world’s longest range twin-engine freight plane, able to fly over 9,000km whilst carrying 112 tonnes.

This latest order will further establish Fed Ex as the largest operator of the 767 Freighter and the 777 Freighter, with the logistics company also being a customer of Boeing’s Global Services business.