FedEx to purchase 24 freighters from Boeing for $6.6bn

Leading aerospace manufacturer Boeing has revealed that it has agreed to sell 24 medium and large freight planes to FedEx Express, a unit of FedEx Corp, in a deal worth $6.6bn.

The transaction will include 12 Boeing 767 Freighters and 12 Boeing 777 Freighters, more greatly establishing FedEx as the largest operator of both of these Boeing models.

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“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 acquisition highlights the growing freight transportation demands within the ecommerce industry, with total global air freight having risen 10% throughout 2017. Further, this expected to increase up to 5% this year.

The 777 is the world’s longest range twin-engine freight plane, able to fly over 9,000km whilst carrying 112 tonnes.