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1/14, 5:48 PM (Source: TeleTrader)
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American Airlines extends 737 MAX grounding to June

American Airlines revealed on Tuesday that it will keep 24 Boeing 737 MAX aircraft in its fleet off the scheduled until June 3 as it remains unclear when the national regulator would allow the troubled airplane to take off again.

Days ago, the Federal Aviation Administration proposed a fine of up to $5.4 million over faulty wing parts found in 737 MAX planes. The planemaker's troubles have spread across the industry since the controversy surrounding one of its most successful jets forcing Spirit Aerosystems, a crucial supplier for the Chicago-based company, to lay off 2,800 people due to production disruption.

Boeing's shares rose 1.22% at 11:45 am ET. At the same time, American Airlines' stock gained 1.48%.

Breaking the News / GG