Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

AMERICAN AIRLINES GROUP INC.

(AAL)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

U.S. carriers begin repairs on Boeing 737 MAX planes, expect quick return

05/13/2021 | 11:33am EDT
FILE PHOTO: A United Airlines passenger jet takes off with New York City as a backdrop

WASHINGTON (Reuters) - United Airlines and two other major U.S. carriers said on Thursday they will quickly repair more than 60 Boeing 737 MAX planes grounded early last month over an electrical problem that could have interfered with some critical systems.

Boeing Co sent all affected carriers service bulletins late on Wednesday on how to address the production issue, which had affected 109 planes worldwide. The Federal Aviation Administration had signed off on the service bulletins, Reuters first reported late on Wednesday.

The action was a relief for American carriers, which had anxiously awaited the green light to get the planes back into the air before the traditional late May start to the summer travel season. U.S. demand for air travel has risen as the COVID-19 pandemic has waned in the United States.

The halting of flights by about a fourth of the MAX fleet came after the plane was grounded for 20 months following two fatal crashes. The FAA lifted that grounding order in November after Boeing made a number of software and training upgrades.

The electrical problem being repaired did not cause any in-service failures, the FAA noted.

United spokeswoman Leslie Scott said on Thursday the airline expects its "Boeing 737 MAX aircraft to return to service in the coming days as we complete our inspection process and ensure those aircraft meet our rigorous safety standards."

American Airlines said it would begin making required changes and anticipates "all affected aircraft will begin safely returning to service in the upcoming days."

Southwest Airlines, which has 32 affected planes, said it estimates the work will take two to three days per aircraft. The airline said it hoped to begin work within the next several days, and estimates it will take about three weeks to complete the work.

Shares in the airlines and Boeing were up 1.8% to 2.9% in late morning trading.

FAA Administrator Steve Dickson told U.S. lawmakers on Wednesday the electrical issue, which had grounded about a quarter of the MAX fleet, would need a "pretty straightforward fix."

Airlines removed dozens of 737 MAX jets from service in early April after Boeing warned of the electrical problem, linked to a backup power control unit in the cockpit on planes built since early 2019.

The problem was then found in two other places on the flight deck: the storage rack where the control unit is kept and the instrument panel facing the pilots.

The FAA said in statement last month that other carriers affected by the electrical issue were Cayman Airways, Copa Airlines, GOL Linhas Aereas, Iceland Air, Minsheng Leasing, Neos Air, Shanding Airlines, SilkAir, Spice Jet, Sunwing Airlines, TUI, Turkish Airlines, Valla Jets Limited, WestJet Airlines and Xiamen Airlines.

(Reporting by David Shepardson; Editing by Chizu Nomiyama and Jonathan Oatis)

By David Shepardson


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AMERICAN AIRLINES GROUP INC. -0.95% 21.4114 Delayed Quote.37.16%
COPA 0.16% 74.6 Delayed Quote.-3.56%
COPA CORPORATION INC. -0.25% 2773 End-of-day quote.-52.68%
SOUTHWEST AIRLINES CO. 0.33% 51.92 Delayed Quote.11.05%
THE BOEING COMPANY 0.90% 233.56 Delayed Quote.3.84%
TUI AG 1.53% 4.121 Delayed Quote.28.33%
UNITED AIRLINES HOLDINGS, INC. -0.23% 48.9945 Delayed Quote.13.62%
All news about AMERICAN AIRLINES GROUP INC.
11:59aAMERICAN AIRLINES : Hurdling the highest obstacle
PU
09:09aAMERICAN AIRLINES : and JetSMART Sign Letter of Intent to Create the Broadest an..
PU
08:49aAMERICAN AIRLINES : plans tie-up with budget carrier JetSMART in South America
RE
07/27AMERICAN AIRLINES : U.S. airlines petition FERC for action on fuel shortages at ..
RE
07/27AMERICAN AIRLINES : Airlines petition U.S. agency for action on fuel shortages a..
RE
07/27Global markets live: LVMH, Michelin, Tesla, Amazon, Activision...
07/27Today on Wall Street: Tech’s big day
07/27AMERICAN AIRLINES : Berenberg Bank Upgrades American Airlines Group to Hold From..
MT
07/27AMERICAN AIRLINES : Berenberg Upgrades American Airlines Group to Hold from Sell..
MT
07/27AMERICAN AIRLINES : Susquehanna Upgrades American Airlines Group to Neutral From..
MT
More news
Financials (USD)
Sales 2021 30 617 M - -
Net income 2021 -2 114 M - -
Net Debt 2021 30 520 M - -
P/E ratio 2021 -6,20x
Yield 2021 -
Capitalization 14 005 M 14 005 M -
EV / Sales 2021 1,45x
EV / Sales 2022 1,04x
Nbr of Employees 117 400
Free-Float 98,1%
Chart AMERICAN AIRLINES GROUP INC.
Duration : Period :
American Airlines Group Inc. Technical Analysis Chart | AAL | US02376R1023 | MarketScreener
Technical analysis trends AMERICAN AIRLINES GROUP INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 23
Last Close Price 21,63 $
Average target price 19,78 $
Spread / Average Target -8,58%
EPS Revisions
Managers and Directors
William Douglas Parker Chairman & Chief Executive Officer
Robert D. Isom President
Derek J. Kerr Chief Financial & Accounting Officer, Executive VP
Maya Leibman Chief Information Officer & Executive VP
Kevin Brickner Senior Vice President-Technical Operations