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Wells Fargo sues American Airlines for late return of leased aircraft
American Airlines is facing legal action from Wells Fargo over the late return of three leased airliners.
The bank leased American three Boeing aircraft in 2017 and claims AA violated its terms in holding on to the planes beyond the leasing contract period.
Two of the jets were returned more than 40 days late, the lawsuit claims.
The lawsuit, filed in the Southern District of New York said American was granted extensions on two of the leases and then held on to the planes well past the agreed-upon return dates.
Wells Fargo was the owner trustee in charge of the jets and leased them to American for a monthly rate of $250,000.
The Boeing jets have a market value of $15 million.
The bank sought $883,334 from AA for the extended period it held on to the aircraft and another $100,000 in contractor fees, which the airline refused to pay.
American said it needed the additional time to comply with the lease return terms.
The airline made no comment on the court filing by Wells Fargo this week but is reviewing the complaint.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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