Record order for American

AMERICAN Airlines has splashed out up to $40bn (£24.7bn) on an order for 460 Boeing and Airbus aircrafts, as the carrier works to overhaul its fleet.

The firm, which claims the deal is the biggest-ever single aircraft purchase, is set to buy the planes between 2013 and 2022.

It marks a departure from American Airline’s loyalty to Boeing, which it said in 1996 would supply its planes exclusively until 2018.

The news came as AA’s parent company, AMR, reported a widened loss of $286m and an eight per cent revenue rise for the past quarter.