American To Return 18 Embraer Jets - Report

May 4, 2012

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American Airlines will return 18 Embraer planes as it renegotiates terms of USD$1.6 billion in debt owed to Brazil's state development bank, BNDES, Valor Econômico newspaper reported.

The company's parent, AMR, has until May 31 to complete the process, Valor said, without saying how it obtained the information.

American, which filed for bankruptcy protection late last year, incurred the debt to finance the purchase of Embraer planes between 1998 and 2002.

(Reuters)