American to Retire More Aircraft

AMR Corp.’s American Airlines said it will take nine more aircraft out of its fleet earlier than planned, the carrier’s fourth move since June to reduce capacity because of the decline in business travel.

The moves will keep capacity unchanged this year and lower it by almost 1% in 2002, the company said. The latest action includes five Boeing Co. 727s and four MD-11s that will be retired by next year’s first quarter rather than by 2003. American wouldn’t say how much it expects to save by trimming the older, less fuel-efficient jets.

The Fort Worth-based airline will ground the five Boeing 727s during the fourth quarter of this year and first quarter of 2002. It will retire four remaining MD-11s by Nov. 1, about two months ahead of schedule.

AMR shares rose 86 cents to $33.32 on the New York Stock Exchange.