BERLIN (dpa-AFX) - American Airlines Group Inc. (AAL), an airline holding company, on Tuesday announced that it has filed a lawsuit against JetBlue Airways Corp. (JBLU) following the termination of their Northeast Alliance, or NEA to recover related funds.
The claim was previously on hold, but is now moving forward as discussions regarding renewing a partnership with JetBlue has now concluded.
American Airlines in a letter to team members said it had been exploring a renewed partnership with JetBlue to strengthen its network and offer customers greater access to its global network and AAdvantage loyalty program.
The goal was to support its business strategy and enhance the customer proposition.
However, over time, it was clear that JetBlue was focused on different business priorities, American Airlines noted.
American Airlines in July 2020 had offered JetBlue a strong partnership proposal.
However, both companies could not reach an agreement aligned with American's operational, financial, and loyalty program goals.
Looking ahead, American Airlines said it remains focused on growing in New York and Boston, adding over 20 new routes from LGA and JFK after the NEA ended. This summer, it will offer daily nonstop flights and improved connections.
On Monday, American Airlines stock had closed at $9.85, 1.03% higher on the Nasdaq. In the after market hours, the stock traded 0.10% lesser before ending the trade at $9.84.
JetBlue Airways stock had closed at $4.07, 4.90% higher on the Nasdaq.
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