American Airlines to finance up to 35 737s
Published Jul 19, 2011 on Pilot Jobs
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AerCap Holdings, an independent aircraft leasing firm, has entered into a purchase-leaseback transaction with American Airlines to finance up to 35 Boeing 737-800s. The deal covers 29 deliveries, of which 26 were previously ordered and three are new. American said the deal also includes six more 737-800 aircraft that American can purchase and, if exercised, would be delivered in 2013-14.
"This arrangement is a great reflection of the flexibility we have to efficiently raise capital in support of AMR's strategic fleet renewal efforts," said Bella Goren, chief financial officer of American's parent company, AMR Corp.
American is replacing its aging MD-80 and Boeing 757 fleet with the more fuel-efficient Boeing 737-800. AA's updated delivery schedule will now see 15 737-800s delivered this year, 28 in 2012 and 14 in 2013.
It is reported that American has been negotiating with both Airbus and Boeing to revamp its domestic fleet. According to several recent news reports, American is in the market for up to 250 narrow-body aircraft at a cost of about $15 billion.
American is replacing its aging MD-80 and Boeing 757 fleet with the more fuel-efficient Boeing 737-800.