Adjusting its Boeing order, American Airlines raises its new spending forecast
American Airlines raised its outlook for capital spending this year after adjusting supply agreements with Boeing.
American now plans to spend $2.67 billion instead of $2.63 billion. In the coming year, the sum should rise to 2.86 instead of 2.71 billion.
According to a statement to the Exchange, the agreement to purchase Boeing 737 Max 8 aircraft from 2013 has been reduced from 23 to 30 firm orders. Of those, 15 are expected to be delivered over the coming year, with the rest in 2024. American is also expected to receive earlier deliveries of 787-9s that had already been postponed.
American Airlines shares fell 0.92% to $16.68 during trading on NASDAQ. Meanwhile, Boeing shares on the NYSE are down 1.77% at $204.64.