American Airlines sticking with new jet deliveries unlike rivals: CEO [Reuters]
American Airlines Group, Inc. (AAL)
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Source: Reuters
American Airlines sticking with new jet deliveries unlike rivals: CEO (Reuters) - American Airlines Group Inc ( AAL.O ) is sticking with its aircraft delivery schedule, Chief Executive Doug Parker told Reuters on Thursday, bucking a trend by other airlines deferring jet deliveries as a way to save cash in the coronavirus crisis. Airlines including American are taking steps to reduce costs and downsize their fleets to more closely match a drastic drop in travel demand due to the pandemic. American had more than 900 jets in its fleet in 2019 and commitments to purchase another 248, according to regulatory filings. To reduce its overall fleet size, it will accelerate the retirement of older aircraft, rather than push back deliveries as rivals like Southwest Airlines Co ( LUV.N ) have announced. In an interview with Reuters, Parker said the airline will have around 100 fewer jets in the summer of 2021 than it had planned given the early retirements. “That’s how we’ll reduce our fleet,
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- 7/15/24 - Form 4
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