Is American Airlines Receiving Compensation From Boeing Over 737 MAX Grounding?
Dow 30 component Boeing (NYSE: BA) is the world’s largest aerospace company and leading manufacturer of commercial jetliners and defense, space and security systems. Reportedly, American Airlines Group has reached a confidential agreement with Boeing Co to compensate damages the airline faced in 2019 due to the grounding of Boeing 737 MAX aircraft. The airlines informed that the damages will be received over several years and is not expected to show any major financial impact in its Q4 2019 earnings. Also, more than $30M of the compensation will be used for the employee profit-sharing program. The Association of Professional Flight Attendants, representing American Airlines’ 28,000 flight attendants, were reported to have welcomed the compensation news. A number of airlines have struck confidential settlements with Boeing in recent weeks. To learn more about Boeing (BA) and to track its ongoing progress please visit the Vista Partners Boeing (BA) Coverage Page. Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives. Stay Informed! Stay Competitive! Sign Up to receive FREE email updates here! jan1(4)