FedEx Corp., the only current commercial customer for Boeing Co.’s 767 cargo jet, is in talks to acquire at least 25 more of the twin-engine freighters.

The shipping company’s directors met in the Seattle  over the weekend, where the deal was on the agenda. The planes’ list value would be about $5 billion..

Boeing would gain valuable sales amid a tough market for wide-body aircraft in general and cargo planes in particular as it develops a version of the 767 as an aerial refueling tanker for the U.S. Defense Department. FedEx would extend its strategy of replacing older, less fuel-efficient planes with new models.

“We constantly work on aligning our fleet plans with our business needs,” FedEx spokesman Jim McCluskey said by e-mail. “We have nothing to announce at this time.”

Aircraft upgrades are part of FedEx’s effort to cut $1.6 billion in costs at its FedEx Express airline unit. The 767’s capacity is similar to the older MD10s in FedEx’s fleet and is about 30 percent more fuel efficient than that three-engine model.

source: Bloomberg