American Airlines is cashing in 18 Boeing 737 Max 8 aircraft as part of a sale and leaseback deal. A corresponding contract was signed with Dubai Aerospace Enterprise towards the end of the previous year, but it was not made public until Monday.

"This transaction reflects our agility, our balance sheet strength, our underwriting ability, our ability to support one of our long-term customers, and our confidence in the product strength of the 737 Max 8 aircraft," said DAE CEO Firoz Tarapore. American Airlines has ordered around 100 aircraft of this type.

The Boeing 737 Max was banned from flying for almost two years after two fatal crashes. In the meantime, numerous countries have granted re-approval under certain conditions. American Airlines has been using the model commercially again for a few weeks. Brought to Europe Tui Airlines Belgium the Max as the first European operator to return to commercial liner service.