Market Chatter: UPS, FedEx Search to Secure Freighters for Holiday Season

MT Newswires Live11-24

United Parcel Service (UPS) and FedEx are searching to secure additional freighters for the holiday season amid an indefinite grounding of MD-11 jets, Bloomberg reported Sunday.

The Federal Aviation Administration grounded 167 MD-11 aircraft after a fatal crash in November, requiring inspections.

UPS has 26 MD-11s, or about 9% of its fleet, while FedEx has 28, or approximately 4% of its aircraft, Bloomberg said.

UPS and FedEx did not immediately respond to MT Newswires' requests for comments.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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