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subject American Air to Defer 54 Boeing Jets
CHICAGO (Reuters) - AMR Corp.'s American Airlines on Monday said it will defer 54 of 56 Boeing aircraft deliveries scheduled for 2006 to 2010, helping the world's largest carrier postpone $2.7 billion in capital spending. Boeing Co. said in a joint statement with American that Boeing already had factored these changes into its financial forecasts. American said it would defer taking delivery of 47 Boeing 737-800s by seven years and postpone seven Boeing 777s by six years beyond their scheduled delivery dates. The deal allows American to delay $1.4 billion in capital spending it had planned for 2005 through 2007 and postpone a total of $2.7 billion in capital spending through 2010. American said it will take delivery of two Boeing 777s in 2006, including one plane originally scheduled for delivery in 2007, to support previously announced plans for international growth. American's chief financial officer, James Beer, said in a statement that deferring the jet deliveries would substantially enhance the company's ability to restructure its finances. American, like other major carriers, is trying to trim costs as it faces soaring fuel prices and tough competition from discount carriers. American has more than 730 planes in its fleet.
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