Wells Fargo filed a lawsuit in the Southern District of New York accusing American Airlines of not returning three leased Boeing aircraft back to the bank on time.
The aircraft were leased to the airline in the fall of 2017, will extensions granted on on two of the contracts. However, American allegedly went over the agreed-upon dates, and now faces approximately US$993,000 in overage fees.
American says it needed the extra time to comply with the lease return conditions outlined by Wells Fargo.
Each Boeing aircraft is worth over $15 million and was leased to American at $250,000 per month.