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VOL. 128 | NO. 59 | Tuesday, March 26, 2013

FedEx to Buy Boeing Jets from United Airlines

AP

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MEMPHIS (AP) FedEx Corp. says it will buy up to 30 Boeing aircraft from United Airlines and convert them into cargo planes.

Financial terms of the deal were not released.

FedEx disclosed its plans in a regulatory filing. The package-delivery company said it would buy 14 Boeing 757 aircraft, which will be delivered through 2015, and could buy up to 16 more 757s.

United announced last year that it would buy 150 Boeing 737s over the next several years to replace older 757s.

FedEx spokesman Jess Bunn said Monday that the purchase of planes from United is the latest move in a fleet-modernization program that started several years ago.

"We are retiring older, less efficient aircraft and replacing them with more modern and efficient ones," he said.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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PROPERTY SALES 114 332 10,554
MORTGAGES 119 412 13,739
FORECLOSURE NOTICES 12 80 2,724
BUILDING PERMITS 522 915 25,222
BANKRUPTCIES 80 264 10,156
BUSINESS LICENSES 16 78 3,814
UTILITY CONNECTIONS 92 430 14,987
MARRIAGE LICENSES 15 83 3,250

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