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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 This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 96 96 12,993
MORTGAGES 132 132 16,890
FORECLOSURE NOTICES 21 21 3,322
BUILDING PERMITS 0 0 30,564
BANKRUPTCIES 66 66 12,409
BUSINESS LICENSES 20 20 4,509
UTILITY CONNECTIONS 146 146 19,039
MARRIAGE LICENSES 35 35 3,944

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