Sat, Aug 16, 2008
Commits To More Boeing 737-800s
The gas guzzlers' gotta go. American Airlines announced
Wednesday it has accelerated its fleet renewal plan, by beginning
the replacement process for a portion of its aging fleet of MD-82
and MD-83 twinjets with more efficient Boeing 737-800s.
Following approval by the Boards of Direcors at American and
parent company AMR, the airline notified Boeing of its intent to
begin pulling forward the delivery of 47 737-800s under a
previously existing purchase commitment. American initiated this
process by notifying Boeing that American will take delivery in
early 2009 of three of these aircraft previously scheduled for
delivery in 2016.
The airline intends to continue pulling forward deliveries of
the other aircraft from their current 2013-2016 delivery schedules
into the 2009-2012 timeframe... but cautioned that any decisions to
accelerate aircraft deliveries will depend on future economic and
industry conditions, and the financial health of the beleaguered
airline.
"We believe that beginning to replace some of our MD-80s in a
measured way makes economic sense and represents prudent and
strategic reinvestment in our business that will bring long-term
benefits to shareholders, customers and employees," said AMR
Chairman and CEO Gerard Arpey. "Our existing agreement with Boeing
gives us ample flexibility for our long-term fleet plan. While the
MD-80 remains an excellent aircraft that serves us and our
customers well, the new 737s will be a great addition to our fleet
that will lower our operational costs, boost the fuel efficiency of
our fleet and also bolster our efforts to lower emissions and noise
levels."
Arpey added the revised contract includes the right to purchase
additional 737s on short notice, well beyond the 47 committed
aircraft. The agreement also includes the provision for possible
orders for Boeing's 787 Dreamliner down the line.
American estimates the 737 consumes 25 percent less fuel per
available seat mile than an MD-80. The airline's goal is to improve
the fuel efficiency of its fleet by more than 20 percent by
2020.
"Strengthening our balance sheet remains a high priority and an
important element of building a stronger financial foundation under
our Turnaround Plan," Arpey said. "Our announcement today shows
that we are taking action to strike the right balance between
reinvestment in the business and the need for continued financial
improvement. As we continue to improve our financial performance we
will have more flexibility to reinvest in the business for the
future."
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