FedEx plans to permanently retire 14 cargo jets amid slumping demand for shipping services. In an SEC filing on Monday, the company said 10 Airbus A310-400s and four Boeing MD10-10s would be removed from service in the quarter ending May 31. "This decision reflects management's ongoing efforts to optimize the company's express network in light of continued excess aircraft capacity due to weak economic conditions and the expected delivery of newer, more fuel-efficient aircraft in fiscal year 2010," FedEx said in its filing.

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