Earlier this month, FedEx also announced it had signed an agreement to be the launch customer for the new ATR 75-600 production freighter, under which FedEx will purchase 30 of the freighters with options to increase the order to 20 more. The Cessna SkyCourier will build on that proven success in the large-utility category, offering even greater capability and mission flexibility.
The turboprop is created to handle high-frequency operations with fully loaded flights. The large cargo doors on the planes also support container and pallet operations for the aircraft, which can handle up to three LD3 containers in a departure from the Cessna 208B design that mandates bulkload airfreight transport.
In the cargo configuration, the aircraft has a large cargo door and a flat floor cabin that can hold up to 6,000 pounds.
FedEx Express entered a purchase agreement with Textron Aviation for 50 of its new Cessna SkyCourier 408 turboprop planes for its fleet of feeder aircraft, and has an option to purchase up to another 50 of the aircraft.
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The company had revenue of $19.36 billion during the quarter, compared to analysts' expectations of $19.38 billion. The dividend for the corporation to company shareholders is rolling at 1.34% with a payout ratio of *TBA.
FedEx Express is the world's largest express transportation company and longtime Textron Aviation customer.
"FedEx Express has had a great relationship with Textron Aviation over the years, and this new, advanced aircraft will play a key role in our feeder aircraft modernization strategy", said David L. Cunningham, president and CEO of FedEx Express. "The Cessna SkyCourier 408 offers a number of significant features that will enhance our long-term feeder strategy".
The aircraft is expected to enter into service in 2020.
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