FedEx is making swingeing cuts to its less efficient air freight capacity, with plans to park or retire dozens of older aircraft following its decision to axe Amazon and amid a tough macroeconomic environment.  
The company opted not to renew its contract with the e-commerce giant this summer and earlier this week blamed a poor first quarter on the struggling global economy.   
Chief operating officer Raj Subramaniam told investors that the company was experiencing weaker demand in air …

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Source: The Loadstar