American Airlines on Thursday announced the retirement of their Boeing 757 and 767 aircraft among others. The accelerated retirement of four aircraft types, consisting of 34 Boeing 757s, 17 Boeing 767s, 20 Embraer 190s and nine Airbus A330-300s, along with a number of older regional aircraft.
Overall, the Fort Worth, Texas-based carrier has retired 80 aircraft from its fleet, all of which are already parked and will not return to passenger service after the pandemic has subsided.
According to the airline, the retirement will remove operating complexity and bring forward cost savings and efficiencies associated with operating fewer aircraft types.
Hard hit by the COVID-19 pandemic, the airline is moving to cut costs and maximize liquidity even as their system capacity has been reduced by almost 80%.
American has accepted $5.8 billion in financial assistance through the U.S. Government’s Payroll Support Program.
“Never before has our airline, or our industry, faced such a significant challenge,” said American Airlines Chairman and CEO Doug Parker. “We have moved quickly and aggressively to reduce our costs and bolster our liquidity,” Parker continued.
According to Airlines for America (A4A), flights in the U.S. carried an average of just 17 people during the week ending April 28. Demand for future travel, measured by new bookings minus refunds, was down 97% year-over-year during the week ending April 19.
Across the world, airlines are strapped for cash as airports are closed and planes are grounded due to the pandemic.