American Airlines has reached a settlement agreement with
Boeing for losses incurred due to the ongoing grounding of the 737 Max.
The carrier said the agreement is confidential, but that it
will contribute more than $30 million from the settlement to the airline’s
profit-sharing program for employees. The compensation will be provided over
several years.
American was operating 24 Max jets at the time of the
grounding last March. The carrier estimated in October that the grounding would
reduce 2019 pretax income by $540 million.
American has thus far removed the Max from its schedule
until April 7 as the aircraft continues to undergo recertification review.