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AMERICAN AIRLINES GROUP INC.

(AAL)
  Report
Delayed Nasdaq  -  01:00 2022-11-25 pm EST
14.50 USD   +0.55%
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Boeing deliveries rose in August as it resumed 787 handovers

09/13/2022 | 11:08am EST
FILE PHOTO: A Boeing 787-10 Dreamliner taxis past the Final Assembly Building at Boeing South Carolina in North Charleston

WASHINGTON (Reuters) - Boeing jetliner deliveries rose in August to 35 airplanes as the U.S. planemaker resumed handovers of its 787 Dreamliner after a 15-month delay.

Boeing said monthly deliveries included 27 737 MAX jets, two 787s and five freighters. That raised the total MAX deliveries this year to 240 jets and overall deliveries to 277 through August.

Boeing deliveries in July had fallen to a five-month low of 26 airplanes, highlighting pressure on global supply chains.

Boeing also on Tuesday reported 30 new gross orders for airplanes, including 13 737 MAX planes and reported 26 net new orders as four 737 MAXs were debooked including two for Chinese-based Okay Airways.

Boeing in August delivered its first 787s since May 2021 -- a 787-9 Lufthansa and a 787-10 to KLM, part of Air France-KLM. But two 787s for American Airlines that were "contractually delivered" in August were not yet booked as delivered because Boeing is performing some pre-scheduled post-delivery customization.

Boeing's gross orders net of cancellations rose to 338 for the year.

In July, the Federal Aviation Administration(FAA) approved Boeing's inspection and retrofit plan needed to meet certification standards. In September 2020, the FAA said it was investigating manufacturing flaws in some 787 jetliners.

Boeing has about 120 787s awaiting delivery. The FAA said it "will inspect each aircraft before an airworthiness certificate is issued and cleared for delivery." Typically, the FAA delegates airplane ticketing authority to the manufacturer, but in some instances, like the 737 MAX, it has retained responsibility for approving each new airplane.

American Airlines has around 40 additional 787s on order. Two of the new 737 MAX orders in August were for American, Boeing said.

In January, Boeing disclosed a $3.5 billion charge due to 787 delivery delays and customer concessions, and another $1 billion in abnormal production costs stemming from production flaws and related repairs and inspections.

(Reporting by David Shepardson; Editing by Nick Zieminski)

By David Shepardson


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AIR FRANCE-KLM -0.58% 1.2865 Real-time Quote.-33.72%
AMERICAN AIRLINES GROUP INC. 0.55% 14.5 Delayed Quote.-19.27%
BOEING 2.01% 178.36 Delayed Quote.-11.40%
LUFTHANSA 0.17% 7.581 Delayed Quote.22.44%
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Analyst Recommendations on AMERICAN AIRLINES GROUP INC.
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Financials (USD)
Sales 2022 48 485 M - -
Net income 2022 -267 M - -
Net Debt 2022 28 398 M - -
P/E ratio 2022 -30,3x
Yield 2022 -
Capitalization 9 424 M 9 424 M -
EV / Sales 2022 0,78x
EV / Sales 2023 0,70x
Nbr of Employees 129 700
Free-Float 98,8%
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Technical analysis trends AMERICAN AIRLINES GROUP INC.
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 20
Last Close Price 14,50 $
Average target price 16,53 $
Spread / Average Target 14,0%
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Managers and Directors
Robert D. Isom Chief Executive Officer & Director
Derek J. Kerr Chief Financial Officer & Executive Vice President
William Douglas Parker Chairman
Ganesh Jayaram Executive VP, Chief Digital & Information Officer
David G. Seymour Chief Operating Officer & Senior Vice President
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