FedEx buys eight planes from Delta
Delta Air Lines said it has reached a tentative agreement to sell eight MD-11 widebody aircraft and four spare engines to FedEx Express.
The Atlanta-based carrier is trying to reorganize and streamline operations in an effort to stay out of bankruptcy and the money from the sale would help the carrier’s balance sheet. Delta did not disclose the sale price or when the transfer of assets would occur. Delta owns eight MD-11s and leases five others.
Meanwhile, FedEx said in its quarterly earnings report last week that it was looking for extra aircraft to meet demand for its express parcel services and had budgeted $2.1 billion for capital spending in fiscal 2005. The new planes would boost to 50 the number of MD-11s in FedEx’s fleet.
FedEx buys eight planes from Delta
