American Airlines to share Boeing proceeds with workers
Fort Worth, Texas — American Airlines said it is negotiating with Boeing Co. over compensation for the airline’s grounded planes and expects to share some of the proceeds with employees.
American had 24 Boeing 737 Max jets when the planes were grounded worldwide in March after two deadly crashes. Like other airlines, American has canceled thousands of flights as a result. It estimated that the grounding will cut its full-year 2019 pretax income by $540 million.
A spokesman for American said the airline is talking to Boeing “as to what that compensation looks like.” Boeing has suggested that compensation could be in cash or other forms, such as help with training or spare parts.
American expects to make part of the compensation eligible for employee profit sharing, the spokesman said without providing any figures.
Grounded Boeing 737 Max jets belonging to American Airlines are stored at Tulsa International Airport in Tulsa, Okla.