Jan 6 (Reuters) - American Airways Group Inc AAL.O stated on Monday it had reached a confidential s
Jan 6 (Reuters) – American Airways Group Inc AAL.O stated on Monday it had reached a confidential settlement with Boeing Co BA.N to handle damages the airline incurred in 2019 as a result of ongoing grounding of its fleet of Boeing 737 MAX plane.
American, the biggest U.S. airline, stated the compensation will likely be obtained over a number of years. The airline will use greater than $30 million of the compensation for the airline’s 2019 worker profit-sharing program.
American stated it doesn’t anticipate any materials monetary influence of the settlement to be realized in its fourth-quarter 2019 earnings and it’ll proceed talks relating to compensation for damages associated to the MAX grounding past 2019.
Boeing stated it doesn’t touch upon discussions with airways.
Boeing’s best-selling 737 MAX has been grounded since two deadly crashes in 5 months killed 346 folks. The corporate is halting manufacturing this month. Numerous airways have struck confidential settlements with Boeing in current…