American Airlines to buy 47 Boeing jets

AMR Corp.’s American Airlines will buy 47 Boeing Co. 737-800 jets four years earlier than planned to replace some of its oldest planes. The aircraft are valued at as much as $3.5 billion.

The new fuel-efficient planes will help American begin retiring its aging MD-80 jets as part of a plan to reduce fuel use by more than 20% by 2020. American will get the new jets starting in 2009, the Fort Worth-based airline said.