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The Latest FedEx Headlines
FedEx Said to Plan Order of 30 Wide-Body Boeing Freighters
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<blockquote data-quote="cheryl" data-source="post: 911082" data-attributes="member: 1"><p><strong>FedEx Said to Plan Order of 30 Wide-Body Boeing Freighters - Bloomberg</strong></p><p></p><p>FedEx Corp. (FDX) plans to buy about 30 Boeing Co. (BA) wide-body freighters to replace older, less fuel- efficient jets, three people familiar with the matter said. The planes would be valued at about $5.26 billion at list prices.</p><p></p><p>While the planned freighter order was necessary given FedEx’s aging fleet, it may also indicate that the company doesn’t expect a recession soon, according to Sterling, who recommends buying the shares.</p><p></p><p>“It’s more kind of out of necessity, to get a younger fleet, to get one that’s a little more efficient,” he said in a telephone interview. “On the other hand, you’re not going to spend $5 billion to have a bunch of planes sitting idle. So I think in a roundabout way it does speak to, ‘at least they feel that things are OK.’”</p></blockquote><p></p>
[QUOTE="cheryl, post: 911082, member: 1"] [B]FedEx Said to Plan Order of 30 Wide-Body Boeing Freighters - Bloomberg[/B] FedEx Corp. (FDX) plans to buy about 30 Boeing Co. (BA) wide-body freighters to replace older, less fuel- efficient jets, three people familiar with the matter said. The planes would be valued at about $5.26 billion at list prices. While the planned freighter order was necessary given FedEx’s aging fleet, it may also indicate that the company doesn’t expect a recession soon, according to Sterling, who recommends buying the shares. “It’s more kind of out of necessity, to get a younger fleet, to get one that’s a little more efficient,” he said in a telephone interview. “On the other hand, you’re not going to spend $5 billion to have a bunch of planes sitting idle. So I think in a roundabout way it does speak to, ‘at least they feel that things are OK.’” [/QUOTE]
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FedEx Said to Plan Order of 30 Wide-Body Boeing Freighters
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