May 4, 2012 / 12:30 PM / 8 years ago

STXNEWS LATAM-American Airlines to return 18 Embraer jets-report

American Airlines, the third-largest U.S. air carrier, will return 18 Embraer planes as it renegotiates terms of $1.6 billion in debt owed to Brazil’s state development bank, BNDES, Valor Econômico newspaper reported on Monday. The company’s parent, AMR Corp, has until May 31 to finalize the process, Valor said, without saying how it obtained the information.

American, which filed for bankruptcy protection late last year, incurred the debt to finance the purchase of Embraer planes between 1998 and 2002. Calls made to the media offices of BNDES and AMR Corp in Rio de Janeiro and Dallas seeking comment were not immediately answered.

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