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

By Pouyan Broukhim

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.

See also:

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.

Share

Featured Articles

How Elon Musk pulled off a $44bn hostile takeover of Twitter

As the world’s richest man, Elon Musk, takes over tech giant Twitter, we highlight the timeline that led to this titanic takeover

Amazon, Alphabet, Wells Fargo best workplaces, says LinkedIn

The top 50 workplaces to grow careers prioritise flexible work and tuition-support programs, as top-ranking firms Amazon and Alphabet prove, says LinkedIn

Top 10 women in technology in the US

These 10 women in tech are forging a path into bold areas of innovation and technological ambition, according to sister publication Technology Magazine

8 executive moves to crypto – from mainstream to startup

Technology & AI

Digital Twins tech ‘missing link’ in urban decarbonisation

Technology & AI

The Metaverse Foundry from Infosys is a business playground

Technology & AI