With Air Canada from September 1979 to November 1992, this 727 was converted to a freighter for FedEx Express (N265FE). The aircraft returned to Canada in 2004 for ten months as C-GBZB on lease to Morningstar Air Express operating FedEx Express services across Canada. FedEx retired the freighter in 2013 and donated it to the Florida Air Museum in Lakeland, FL. It's on display in Piedmont Airlines colors (Tampa Bay Pacemaker) at the museum's Lakeland - Linder Regional airport location.

Del 27 Sep 1979 Test Registration a N1523B. To Air Canada as C-GAAR, FedEx Express "Paul" as N265FE, to Morningstar Air Express as C-GBZB, returned to Fedex as N265FE. Preserved at Florida Air Museum, Lakeland, Florida since 2014, repainted in full fake Piedmont colors as "Tampa Bay Pacemaker" by 2015.

Later with FedEx as N265FE and, for a while, C-GBZB.

Delivered new 27th Sep 1979 and to FedEx as N265FE 11th Feb 1993

Ex Fedex N265FE, on display at the Florida Air Museum since 2014. Repainted in full fake Piedmont colours as "Tampa Bay Pacemaker" by 2015. The aircraft never flew with Piedmont.