Boeing cites 'very profitable' deal with American Airlines

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Boeing's recent deal with American Airlines was "a very profitable" one for both the airframer and the airline, said Boeing chief executive Jim McNerney.

He played down suggestions that the price paid by American was the harbinger of a new price war, but suggested that Airbus' desire to gain market share at American had led to "aggressive" pricing by both parties.

However, McNerney said that Boeing's figure was not an "irresponsible" one.

He said the decision last year by the airframer to walk away from a deal with Ryanair was due to it "not closing the business case" for either party.