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As part of the agreement, Boeing has agreed to convert four Boeing 777s — two in fiscal 2016 and two in fiscal 2017 — to 767 equivalent purchase value. FedEx Express currently operates 19 long-range 777 freighters and now is committed to purchase an additional 24 777s.
The 19 767s will be delivered from fiscal 2015 to 2019 and replace current MD-10 and A310-200 aircraft. The impact to capital spending in fiscal 2013 and fiscal 2014 is immaterial, and estimated fiscal 2013 capital spending remains at $3.9 billion. The 767s are substantially more fuel efficient and reliable than the aircraft they will replace.
