American Airlines offers nearly 40M shares of public stock, details Tulsa facility improvements | News

The most expensive upgrades on American’s initial list are the Central Utility Plant ($44.9 million); re-roofing of hangars 1, 2 and 5 ($27.8 million); and plating repair shop and modernization ($25.2 million), documents show.

Improvements to the Central Utility Plant are expected to create annual operational savings of $1 million for electricity and $3 million for gas. The lifespans for the new hangar roofs are estimated between 30-35 years.

Erik Olund, American’s managing director of base maintenance, said earlier this month that two anchor’s of the overall revitalization plan will be delayed until at least the fourth quarter of 2021.

They are a new, 132,000-square-foot base support building and a 193,000-square-foot hangar that will hold two wide-body aircraft and will replace two existing hangars no longer equipped to fully hold American’s current planes.

Also announced Tuesday with American’s public offering was a joint statement by the International Air Transport Association (IATA) and the International Transport Workers’ Federation (ITF) calling for urgent government intervention to skirt an employment disaster in the aviation industry.

Estimates from the Air Transport Action Group suggest some 4.8 million aviation workers’ jobs are at risk as a result of air travel demand falling more than 75% (August 2020 compared to August 2019).

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