American Airlines buying $12 billion in 787s from Boeing
American Airlines buying $12 billion in 787s from Boeing
Herb Kelleher former CEO of Southwest and Robert Crandall former president of American Airlines via the Dallas Morning News
07 April, 2018, 07:16
American Airlines (NASDAQ:AAL) has ordered 47 new Boeing 787 widebody craft (NYSE:BA), a contested deal that confirms the end of American's order with Airbus (OTCPK:EADSY). The entire order of new 787s will be powered with General Electric's GEnx-1B engines. American will use the planes to replace aging Boeing 767-300s and, later, its Airbus A330-300s and the oldest of its Boeing 777-200s.
American has been looking at alternatives for the order for 22 A350s that it gained through its 2013 merger with US Airways since previous year, and recently outlined a need to make a decision on what to do with its aging 767-300ER fleet.
American operates a fleet of 35 787s to destinations such as Tokyo, São Paulo and Paris.
Boeing says the order today is a new deal from American and not an exercise of the carrier's options for 58 787s.
Adding more of the fuel-efficient Boeing aircraft will allow American to simplify its fleet and shed some of its oldest long-range jets. "This new order is a powerful endorsement of the 787 family's unique passenger appeal and unmatched ability to help airlines open new routes and grow profitably", said Boeing Commercial Airplanes President and CEO Kevin McAllister in a news release. "Our prior plan would have had us operating five widebody aircraft types, and with today's announcement we will soon reduce that to three", Chief Financial Officer Derek Kerr said.
AAL will also defer delivery of 40 737 MAX aircraft scheduled to arrive between 2020 and 2022.
About American Airlines Group American Airlines and American Eagle offer an average of almost 6,700 flights per day to almost 350 destinations in more than 50 countries. The deferral will better match future planned retirements, the carrier said. Shares of American were up 0.3% after hours, following a 3.6% fall to close Friday trading at $50.29. In 2015, its stock joined the S&P 500 index.
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