MEMPHIS, Tenn.—(BUSINESS WIRE)—FedEx Express, a wholly owned subsidiary of FedEx Corp. (NYSE: FDX), today agreed to purchase 50 additional 767-300F aircraft from The Boeing Company as it continues to modernize its aircraft fleet to more effectively serve its customers. In addition to the 50 confirmed orders, FedEx also has options to purchase a total of 50 767F aircraft.

The 50 firm-order aircraft will be delivered from fiscal 2018 through fiscal 2023. Total capital spending for fiscal 2016 remains at $4.6 billion. The impact to capital spending in fiscal 2017 from this new order is immaterial. With this order, FedEx Express now holds a total of 106 firm orders for 767Fs from The Boeing Company through fiscal 2023.

“Acquiring additional 767F aircraft is a continuation of our very successful air fleet modernization program and will enable us to reduce structural costs, improve our fuel efficiency and enhance the reliability of our global network,” said David J. Bronczek, president and chief executive officer of FedEx Express.

For additional information about the FedEx Express aircraft fleet, see the Q4 FY15 statistical book.