American orders more Boeing jets

Feb. 2, 2022 Updated Wed., Feb. 2, 2022 at 7:47 p.m.

FORT WORTH, Texas – American Airlines said Wednesday that it plans to exercise options to buy 30 more Boeing 737 Max jets while delaying delivery of Boeing 787s, larger jets that are being plagued by production flaws.

The airline expects to receive half the 737 Max 8 jets next year and the other half in 2024, as it seeks to rebuild from the pandemic.

Financial terms were not disclosed.

For Boeing, the orders from a major customer builds on a huge order for passenger and cargo planes that Qatar Airways announced earlier this week.

At the same time, however, American said it will delay delivery of an undisclosed number of two-aisle 787 jets that were scheduled to begin last month.

Those deliveries fell through because of problems on the production line, and American said they will now start in the fourth quarter and run into 2027.

Meta stock drops on quarter news

Meta, the company that owns Facebook, Instagram and WhatsApp, saw its stock plunge after-hours Wednesday after unexpectedly heavy spending on its “metaverse” project led to a rare decline in its fourth-quarter profit.

That’s in addition to a lower-than-expect revenue outlook for the current quarter due in part to growing competition from rival platforms clamoring for people’s time, such as TikTok.

Meta’s shares fell 22.6% to $249.90 in after-hours trading.

If the drop holds until the market opens Thursday, the company’s market capitalization – its overall value – is on track to drop by nearly $200 billion.

That’s a bit more than the entire gross domestic product of Greece, based on data from the World Bank.

From wire reportsThe Menlo Park, Calif.-based company said it earned $10.29 billion, or $3.67 per share, in the final three months of 2021.

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