FedEx Retires 24 Jets to Cut Costs as U.S. Shipments Fall
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FedEx Corp. retired 24 jets to cut capacity in the U.S. domestic Express division as a slowing economy saps shipping volumes for the operator of the world’s largest cargo airline.
Taking the Airbus SAS and Boeing Co. freighters out of service added to five jets grounded last quarter and planned retirements of 21 more in FedEx’s 2013 fiscal year. FedEx is seeking to reduce costs in the U.S. part of the Express unit, which includes moving packages by air.