American Airlines said Monday it had reached a confidential agreement with Boeing to address damages the airline incurred in 2019 due to the ongoing grounding of its fleet of Boeing 737 MAX aircraft. American said the compensation will be received over several years. The airline will use more than $30m of the compensation for the airline’s 2019 employee profit-sharing program. American said it does not expect any material financial impact of the agreement to be realized in its fourth-quarter 2019 earnings and it will continue talks regarding compensation for damages related to the MAX grounding beyond 2019.<br/>
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Aeromexico said Monday it had reached a compensation agreement with Boeing in relation to the temporary grounding of the planemaker’s 737 MAX aircraft. The airline did not disclose the size of the payment, but added that it remains in talks with Boeing and regulatory authorities. Aeromexico grounded its 737 MAX aircraft on March 11, 2019.<br/>
Australia’s deadly bushfire crisis is affecting some of the nation’s biggest companies including airline Qantas Airways Ltd. Qantas shares tumbled after the airline cancelled several flights via Canberra on Sunday due to bushfire smoke. The stock dropped 2.6% on Monday to its lowest level since Nov. 18.<br/>