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Fedex has announced plans to “aggressively” cut back on its older aircraft, earning it a $100m impairment charge. A total of 86 aircraft and 308 engines will be removed from service as the global economy stubbornly refuses to pick up. Ten aircraft are to be retired immediately (five A310s and five MD-10-10s), while 76 other aircraft will be phased out several years earlier than planned. Fedex spent a staggering $3.8bn on fuel in the year ended February 28.