Delta has benefited from the Boeing 737 Max grounding, according to a note written by Cowen investment analyst Helane Becker.

Delta does not fly the 737 Max, unlike domestic competitors American, United and Southwest. American alone canceled 7,800 flights in the second quarter because of the 737 Max grounding.

And so, Delta increased capacity by 4.9% during the first half of the year, Becker wrote. That compares to the airline's earlier plan for 3% growth. 

"Delta has benefited from customer spillover from competitors and partners being impacted by the grounding of the aircraft," Becker said. 

Meanwhile, American said the Boeing 737 Max grounding cost it $185 million in the second quarter, the airline estimated in a regulatory filing Wednesday. 

American has 24 of the planes and had expected to take delivery of seven more during the second quarter. 

American has canceled all 737 Max flying through Sept. 3 and will likely end up extending that date because the aircraft is widely expected to be grounded into the fall. American said it would provide an update on the full-year impact of the Max grounding during its second-quarter earnings call later this month.

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