• Grounded Boeing 737 Max jets belonging to American Airlines are stored at Tulsa International Airport in Tulsa, Oklahoma, last May. American Airlines said Jan. 2 it is negotiating with Boeing over compensation for the airline's grounded planes and will share some of the proceeds with its employees. | TOM GILBERT / TULSA WORLD / VIA AP
    Grounded Boeing 737 Max jets belonging to American Airlines are stored at Tulsa International Airport in Tulsa, Oklahoma, last May. American Airlines said Jan. 2 it is negotiating with Boeing over compensation for the airline's grounded planes and will share some of the proceeds with its employees. | TOM GILBERT / TULSA WORLD / VIA AP

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NEW YORK – American Airlines Group Inc. said on Monday it had reached a confidential agreement with Boeing Co, to address damages the airline incurred in 2019 due to the ongoing grounding of its fleet of Boeing 737 Max aircraft.

American, the largest U.S. airline, said the compensation will be received over several years. The airline will use more than $30 million of the compensation for the airline’s 2019 employee profit-sharing program.

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