An aircraft nacelle comprising an outer cowl and an inner cowl located inward of the outer cowl with an air flow path formed therebetween. The inner cowl may comprise a forward portion and an aft portion slidable in a forward-to-aft direction via one or more actuators. When translated aftward, the aft portion may decrease the area of the nacelle's fan duct nozzle. The greatest radial distance between the inner cowl and a center axis of the nacelle may occur at or forward of a location in which the forward and aft portions overlap each other. The forward portion may be comprised of a different material than the aft portion.