News / Cost-cutting FedEx Express to retire MD-11s for B767s and 777s

Amid a tailing-off of earnings, FedEx Express has announced plans to retire its remaining MD-11 series cargo aircraft and replace them with new Boeing 767s and 777s.

FedEx identified a need for cost-cutting in its international express segment last month, after a dramatic 77% drop in nine-month operating income, to $119m from $520m for the same period last year.

During an earnings call on Thursday, FedEx CEO Raj Subramaniam said: “We are taking additional steps to address our fixed expense structure. This quarter ...