American Airlines to spend $12 billion on Boeing 787 Dreamliner planes

American Airlines will spend more than $12 billion to replace some of its oldest planes.

The company is ordering 47 new Boeing 787 Dreamliner planes, according to WSOCTV.com. In return, the company canceled an order with European rival Airbus and delayed the delivery of 40 other Boeing planes.

The Boeing Dreamliners are made in North Charleston, South Carolina.