AP
Alcoa Signs Agreement With American Air
Monday July 17, 10:22 am ET
American Airlines to Provide Cargo Conversions and Maintenance Services for Alcoa
SIMI VALLEY, Calif. (AP) -- Aluminum maker Alcoa Inc. said Monday it has reached an agreement with American Airlines that will allow the airline to perform cargo conversions and maintenance on 757-200 aircraft for Alcoa's Alcoa-SIE Cargo Conversions business.
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Financial terms were not disclosed.
Alcoa said the addition of American Airlines Maintenance Services will significantly boost the capacity and expertise of Alcoa-SIE's 757 freighter conversion program.
Alcoa-SIE will convert aircraft in dedicated hangar bays with additional bays available for future expansion, the company said.
Alcoa officials said the agreement gives them largely unlimited capacity in terms of hangar space and brings in experienced aircraft maintenance technicians.
Officials for American said they plan to complement Alcoa-SIE's conversion process by offering a number of services including aircraft light and heavy maintenance checks, engine, component, landing gear repair and overhaul services.
Alcoa shares fell 24 cents to $30.55, while shares of AMR corp., American's parent company, rose 31 cents to $23.56, both in morning trading on the New York Stock Exchange.
Alcoa Signs Agreement With American Air
Monday July 17, 10:22 am ET
American Airlines to Provide Cargo Conversions and Maintenance Services for Alcoa
SIMI VALLEY, Calif. (AP) -- Aluminum maker Alcoa Inc. said Monday it has reached an agreement with American Airlines that will allow the airline to perform cargo conversions and maintenance on 757-200 aircraft for Alcoa's Alcoa-SIE Cargo Conversions business.
ADVERTISEMENT
Financial terms were not disclosed.
Alcoa said the addition of American Airlines Maintenance Services will significantly boost the capacity and expertise of Alcoa-SIE's 757 freighter conversion program.
Alcoa-SIE will convert aircraft in dedicated hangar bays with additional bays available for future expansion, the company said.
Alcoa officials said the agreement gives them largely unlimited capacity in terms of hangar space and brings in experienced aircraft maintenance technicians.
Officials for American said they plan to complement Alcoa-SIE's conversion process by offering a number of services including aircraft light and heavy maintenance checks, engine, component, landing gear repair and overhaul services.
Alcoa shares fell 24 cents to $30.55, while shares of AMR corp., American's parent company, rose 31 cents to $23.56, both in morning trading on the New York Stock Exchange.