American Airlines Extends 737 MAX Grounding Period Once More
Zacks Investment Research | Jun 09, 2019 10:05PM ET
American Airlines Group Inc. (NASDAQ:AAL) has yet again extended the grounding of its 737MAX jets. Management stated that the carrier will cancel 115 flights daily through Sep 3.
The carrier had initially notified that 737 MAX jets would be grounded until Apr 24, which was later stretched through Jun 5 and again until Aug 19. Previously, the company expected its current-year pre-tax earnings to be affected to the tune of roughly $350 million. However, the amount of loss might go up with the recent extension in Boeing737 MAX grounding time period.
Additionally, with 24 Boeing (NYSE:BA) 737 MAX jets in its fleet, the carrier needs to make adjustments to its flight schedules to cater to customer needs during the busy summer season.
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