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American Airlines Restructures Boeing Order

May 08, 1997|(Reuters)

American Airlines restructured its $6-billion-plus order for Boeing Co. planes that had been put in jeopardy while the airline negotiated a new contract with its pilots. The deal, made in November, was slightly altered because American, a unit of Fort Worth-based AMR Corp., delayed putting in firm purchase orders on at least 14 aircraft, because of uncertainties caused by the labor dispute. Pilots at American ratified a five-year contract Monday. Under the exclusive order, Boeing will supply American with aircraft through 2018. American confirmed orders for 75 Boeing 737s, 12 Boeing 757s and four extended-range Boeing 767-300s. It will also order a number of Boeing 777 aircraft. The main difference between the new deal and November's is the delivery schedule. In the restructured deal, deliveries of the 767-300s will be made in the spring of 1998, while the 757s will be delivered at the rate of one each month, beginning in June 1998. The first delivery of the 737s is scheduled for January 1999, continuing through March 2004.

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