Subconciously I was not happy with my earlier post…I am more au fait with RAF acronyms than FAA ones !!
From this website (modern FAA)

https://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=12&cad=rja&ved=0CDYQFjABOAo&url=http%3A%2F%2Fwww.armedforces.co.uk%2Fnavy%2Flistings%2Fl0032.html&ei=8KfQUdLsMcjmOp-FgNAD&usg=AFQjCNEgqFduh2pB0DXWrbRKg6LqXTe8lw&sig2=aN7siokEcGeswd5r-pVqaA

I got this acronym which is very similar…
NAVAL AIRCRAFT (FAF FORWARD AVAILABLE FLEET)

Forward Available Fleet =
Aircraft available to the Front Line and training units. Aircraft can move freely between Fit for Purpose and Short Term Unserviceable status within the Forward fleet.

FAF also seems to be used by the modern RAF,FAF may be a modern acronym and totally different to FAE !