FedEx said to be in talks on $5bn of Boeing 767 Planes

Various sources have reported that FedEx is planning to acquire 25 Boeing 767 cargo jets. According to Bloomberg the shipping company’s directors have met to discuss the deal. The value of the deal is estimated at $5bn.

From the deal Boeing would gain valuable sales amid a tough market for wide-body aircraft in general and cargo planes. FedEx would continue its strategy of replacing older, less fuel-efficient planes with new models.

Aircraft upgrades are part of FedEx’s effort to cut $1.6bn in costs at its FedEx Express airline unit. The 767’s capacity is similar to the older MD10s in FedEx’s fleet and is about 30% more fuel efficient than that three-engine model.

FedEx already has a number unfilled orders for the 767-300 freighter and these additional 25 would bring make FedEx’s total fleet of 767-300 freighter up to a count of 60.