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Trump offers Boeing some advice: Choose a new name for 737 Max

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A grounded American Airlines Boeing 737 Max 8 is seen parked at Miami International Airport

American Airlines has announced it will cancel 115 flights a day until mid-August due to ongoing problems with the Boeing 737 MAX aircraft.

The airline's CEO Doug Parker and President Robert Isom issued a statement saying it would cancel 115 flights daily through August 19, representing approximately 1.5 of the airlines' flying each day during the summer.

Booming demand along with the grounding of Boeing's 737 Max aircraft is biting into Northern Hemisphere spring and summer schedules.

Airlines and countries around the world have grounded the Boeing 737 Max or banned it from airspace after an Ethiopian Airlines crash last month.

Normally US airlines compete to sell tickets and fill seats during the peak summer travel season.

They added that the airline has been in close contact with the FAA, the Department of Transportation, the National Transportation Safety Board and worldwide regulators and are "pleased with the progress so far".

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"We remain confident that the impending software updates, along with the new training elements Boeing is developing for the MAX, will lead to recertification of the aircraft soon".

AA said that its reservations team will contact affected customers directly, with passengers on cancelled flights given the choice of rebooking or obtaining a refund.

To that, Boeing has responded with a video address by Muilenburg, who acknowledged investigators' findings that it faulty angle of attack sensor input activated Maneuvering Characteristics Augmentation System (MCAS), but retained that multiple reasons played a role in Flight 302 crash.

Airlines are being forced to ground their planes longer than expected after Boeing and the FAA said the company needs more time to complete changes to a flight-control system suspected of playing a role in the crashes. In the previous weeks, Boeing pilots have flown 96 test flights, totalling 160 hours with the new software and will operate more flights in the coming weeks to prove that the software fix works.

American previously planned to cancel MAX flights through early June.

"This has without a doubt damaged Boeing's reputation and we foresee a dent to the (Boeing) brand's value at over $12 billion", Chief Executive David Haigh said by email when asked about Trump's comments.

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