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0.000116360251338169 0.000927623923667779 0.00116360251338143 -0.000186176402140992 0.000837793809634661 0.00111938561787305 -0.000232720502676206 0.0036537118920178
Stock impact report

FedEx expects $175M impact from MD-11 fleet grounding [Yahoo! Finance]

Boeing Company (The) (BA) 
Last boeing company (the) earnings: 4/29 07:30 am Check Earnings Report
Company Research Source: Yahoo! Finance
FedEx is expecting a $175 million headwind to its adjusted operating income this fiscal year due to the grounding of its MD-11 fleet, EVP and CFO John Dietrich said on a Q2 earnings call Thursday. The carrier already incurred $25 million of that amount in November, with the remainder projected to take place in the third quarter, Dietrich said. The CFO noted that FedEx will face "significantly higher costs" in December in particular due to expenses associated with securing third-party air cargo capacity. "It's an expensive time of year to be getting outsourced lift to begin with, let alone when you have fleet grounded," Dietrich said. FedEx's current financial outlook accounts for its MD-11 aircraft to return to service in Q4, which begins March 1, he added. FedEx and UPS paused operations of their MD-11 aircraft last month at manufacturer Boeing's recommendation after the deadly crash of an aircraft of that type. The Federal Aviation Administration also issued an emergency dire Show less Read more
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