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American Airlines Group Inc (AAL.O)

AAL.O on Nasdaq

13.19USD
18 Sep 2020
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$-0.44 (-3.23%)
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Latest Key Developments (Source: Significant Developments)

American Airlines To Cut About 19,000 Jobs On Oct. 1, Unless PSP Is Extended
Tuesday, 25 Aug 2020 

Aug 25 (Reuters) - AMERICAN AIRLINES::AMERICAN AIRLINES SAYS ABOUT 19,000 OF TEAM MEMBERS WILL BE INVOLUNTARILY FURLOUGHED OR SEPARATED ON OCT. 1, UNLESS THERE IS AN EXTENSION OF PSP.AMERICAN AIRLINES SAYS CO WILL HAVE AT LEAST 40,000 FEWER PEOPLE WORKING OCT. 1 THAN IT HAD WHEN IT ENTERED PANDEMIC.AMERICAN AIRLINES SAYS PLAN TO FLY LESS THAN 50% OF AIRLINE IN Q4, WITH LONG-HAUL INTERNATIONAL PARTICULARLY REDUCED TO ONLY 25% OF 2019 LEVELS.AMERICAN AIRLINES - ACROSS MAINLINE & REGIONAL CARRIERS, OVER 12,500 COLLEAGUES DECIDED TO LEAVE PERMANENTLY THROUGH EARLY OUT PROGRAMS/RETIREMENT.AMERICAN AIRLINES - ANOTHER 11,000 TEAM MEMBERS HAVE OFFERED TO BE ON A LEAVE OF ABSENCE IN OCTOBER.AMERICAN AIRLINES SAYS THE ONE POSSIBILITY OF AVOIDING INVOLUNTARY REDUCTIONS ON OCT. 1 IS A "CLEAN EXTENSION" OF THE PSP.  Full Article

Neste To Supply Sustainable Aviation Fuel To Three Major U.S. Airlines
Thursday, 13 Aug 2020 

Aug 13 (Reuters) - Neste Oyj ::NESTE TO SUPPLY SUSTAINABLE AVIATION FUEL TO THREE MAJOR U.S. AIRLINES.IS SUPPLYING ALASKA AIRLINES, AMERICAN AIRLINES AND JETBLUE WITH SUSTAINABLE AVIATION FUEL FOR FLIGHTS FROM SAN FRANCISCO INTERNATIONAL AIRPORT (SFO).  Full Article

American Airlines Subsidiary PSA Warns Of More Pilot, Flight Attendant Furloughs Than Anticipated Based On American's Oct Schedule - Employee Memo
Friday, 31 Jul 2020 

American Airlines Group Inc ::AMERICAN AIRLINES SUBSIDIARY PSA WARNS OF MORE PILOT, FLIGHT ATTENDANT FURLOUGHS THAN ANTICIPATED BASED ON AMERICAN'S OCT SCHEDULE - EMPLOYEE MEMO.  Full Article

American Airlines Exec Says Working With Boeing On Financing For 737 MAX, Plan Is Still To Take All 100 On Order Over Time - Conf Call
Thursday, 23 Jul 2020 

July 23 (Reuters) - American Airlines Group Inc ::AMERICAN AIRLINES CFO SAYS EXPECTS TO END Q3 WITH ABOUT $13 BILLION OF AVAILABLE LIQUIDITY - CONF CALL.AMERICAN AIRLINES EXEC SAYS REDUCING Q3 CAPACITY AND REVIEWING Q4 AS BOOKINGS SLOW.AMERICAN AIRLINES EXEC SAYS WORKING WITH BOEING ON FINANCING FOR 737 MAX AIRCRAFT, PLAN IS STILL TO TAKE ALL 100 ON ORDER OVER TIME.  Full Article

American Airlines Posts Q2 Loss Per Share Of $4.82
Thursday, 23 Jul 2020 

July 23 (Reuters) - American Airlines Group Inc ::Q2 LOSS PER SHARE $7.82 EXCLUDING ITEMS.Q2 LOSS PER SHARE $4.82.Q2 EARNINGS PER SHARE ESTIMATE $-7.70 -- REFINITIV IBES DATA.AMERICAN AIRLINES - SIGNED TERM SHEET WITH U.S. DEPARTMENT OF TREASURY FOR $4.75 BILLION SECURED LOAN, WHICH IS EXPECTED TO CLOSE IN Q3.AMERICAN AIRLINES - QTRLY TOTAL OPERATING REVENUES $1,622 MILLION VERSUS $11,960 MILLION.AMERICAN AIRLINES - ENDED SECOND QUARTER WITH $10.2 BILLION OF AVAILABLE LIQUIDITY.AMERICAN AIRLINES - QTRLY TOTAL MAINLINE & REGIONAL REVENUE PASSENGER MILES 7,231 MILLION VERSUS 62,658 MILLION.AMERICAN AIRLINES - PASSENGER DEMAND AND LOAD FACTORS HAVE IMPROVED SINCE BOTTOMING OUT IN APRIL, BUT CONTINUE TO BE SIGNIFICANTLY BELOW 2019 LEVELS.AMERICAN AIRLINES - QTRLY TOTAL MAINLINE & REGIONAL AVAILABLE SEAT MILES 17,081 MILLION VERSUS 72,322 MILLION.AMERICAN AIRLINES - DEMAND HAS WEAKENED SOMEWHAT DURING JULY AS COVID-19 CASES HAVE INCREASED AND NEW TRAVEL RESTRICTIONS HAVE BEEN PUT INTO PLACE.AMERICAN AIRLINES - PRESENTLY EXPECTS ITS THIRD QUARTER SYSTEM CAPACITY TO BE DOWN APPROXIMATELY 60% YEAR OVER YEAR.AMERICAN AIRLINES - QTRLY TOTAL MAINLINE & REGIONAL PASSENGER LOAD FACTOR 42.3% VERSUS 86.6%.Q2 REVENUE VIEW $1.44 BILLION -- REFINITIV IBES DATA.AMERICAN AIRLINES - QTRLY TOTAL MAINLINE & REGIONAL PASSENGER REVENUE PER ASM 6.48 CENTS VERSUS 15.22 CENTS.AMERICAN AIRLINES - ESTIMATES THAT IT WILL REDUCE ITS 2020 TOTAL OPERATING AND CAPITAL EXPENDITURES BY MORE THAN $15 BILLION.  Full Article

American Airlines Announces Pricing Of Senior Secured Notes
Thursday, 25 Jun 2020 

June 24 (Reuters) - American Airlines Group Inc ::ANNOUNCES PRICING OF SENIOR SECURED NOTES.IT PRICED $2.5 BILLION AGGREGATE PRINCIPAL AMOUNT OF ITS 11.75% SENIOR SECURED NOTES DUE 2025.NOTES WILL HAVE AN INTEREST RATE OF 11.75% PER ANNUM AND ARE BEING ISSUED AT A PRICE EQUAL TO 99% OF THEIR FACE VALUE.SIZE OF OFFERING OF NOTES WAS INCREASED FROM PREVIOUSLY ANNOUNCED $1.5 BILLION.DECIDED NOT TO PROCEED WITH PREVIOUSLY ANNOUNCED $500 MILLION TERM LOAN FACILITY ON INCREASED DEMAND FROM INVESTORS IN NOTES OFFERING.  Full Article

Mesa Air Group's Unit Entered Into 21st Amendment To Code Share & Revenue Sharing Agreement With American Airlines
Wednesday, 17 Jun 2020 

June 16 (Reuters) - American Airlines Group Inc ::MESA AIR GROUP INC - ON JUNE 11, CO'S UNIT ENTERED INTO TWENTY-FIRST AMENDMENT TO CODE SHARE & REVENUE SHARING AGREEMENT WITH AMERICAN AIRLINES.MESA AIR GROUP - AMENDMENTS TO AMERICAN CPA INCLUDE PERMANENT WITHDRAWAL OF 2 AIRCRAFT FROM THE AMERICAN CPA, EFFECTIVE JUNE 15.MESA AIR GROUP - AMENDMENTS ALSO INCLUDE ADDITION OF UTILIZATION-BASED CREDITS, ENTITLING AMERICAN TO PAYMENT CREDITS FROM APRIL 1 TO SEPT 30.  Full Article

American Airlines Expects Q2 Revenue To Be Down About 90%
Friday, 12 Jun 2020 

June 12 (Reuters) - American Airlines Group Inc ::AMERICAN AIRLINES - COMPANY EXPECTS ITS Q2 2020 REVENUE TO BE DOWN APPROXIMATELY 90% VERSUS Q2 OF 2019.AMERICAN AIRLINES - HAS TAKEN SIGNIFICANT COST REDUCTION ACTIONS THAT HAVE REMOVED MORE THAN $13.5 BILLION FROM ITS OPERATING AND CAPITAL BUDGETS FOR 2020.AMERICAN AIRLINES - EXPECT THAT ITS LIQUIDITY WILL AMOUNT TO APPROXIMATELY $11 BILLION AS OF JUNE 30, 2020.AMERICAN AIRLINES - FLOWN SYSTEM CAPACITY WAS DOWN ABOUT 75% YEAR-OVER-YEAR IN APRIL, AND DOWN APPROXIMATELY 80% YEAR-OVER-YEAR IN MAY.AMERICAN AIRLINES - CASH BURN RATE HAS DECELERATED FROM PEAK OF OVER $100 MILLION PER DAY IN APRIL TO ABOUT $40 MILLION PER DAY FORECASTED FOR MONTH OF JUNE.AMERICAN AIRLINES - COMPANY SEEKS TO REDUCE ITS CASH BURN RATE TO APPROXIMATELY ZERO BY END OF 2020.AMERICAN AIRLINES - JUNE SYSTEM CAPACITY IS EXPECTED TO BE DOWN ABOUT 75% YEAR-OVER-YEAR.AMERICAN AIRLINES - HAS APPLIED FOR A SECURED LOAN IN AMOUNT OF APPROXIMATELY $4.75 BILLION THROUGH LOAN PROGRAM UNDER CARES ACT.AMERICAN AIRLINES -SINCE MIDDLE OF MAY, HAS OBSERVED POSITIVE NET BOOKINGS IN EACH OF SEVEN ADVANCED PURCHASE WINDOWS THAT IT REGULARLY MONITORS.AMERICAN AIRLINES - LOAN FROM CARES ACT EXPECTED TO BE 5-YEAR, SENIOR SECURED OBLIGATION AT VARIABLE INTEREST RATE OF LIBOR PLUS 3.50%.AMERICAN AIRLINES -PLANNING TO FLY 55% OF ITS DOMESTIC SCHEDULE & NEARLY 20% OF ITS INTERNATIONAL SCHEDULE IN JULY 2020 VERSUS SAME PERIOD LAST YEAR.  Full Article

UK's CMA Says BA, American Airlines Offer Commitments On Competition Concerns Over Airline Routes
Thursday, 7 May 2020 

May 7 (Reuters) - UK's CMA::BRITISH AIRWAYS, AMERICAN AIRLINES OFFERED COMMITMENTS TO RESOLVE COMPETITION CONCERNS OVER AGREEMENT ABOUT AIRLINE ROUTES BETWEEN UK, US.BRITISH AIRWAYS, AMERICAN AIRLINES TO MAKE SLOTS AVAILABLE AT LONDON HEATHROW OR GATWICK AIRPORTS TO RESOLVE COMPETITION CONCERNS.BA, AMERICAN AIRLINES RELEASING EXTRA SLOTS TO LET COMPETITORS BEGIN OR INCREASE NON-STOP FLIGHTS BETWEEN LONDON & BOSTON, DALLAS & MIAMI.PROCEEDING TO MARKET TEST PROPOSED PACKAGE BY BA, AMERICAN AIRLINES BUT ALSO GIVING EXTRA TIME FOR RESPONSES IF NEEDED.  Full Article

American Airlines Q1 Loss Per Share $5.26
Thursday, 30 Apr 2020 

April 30 (Reuters) - American Airlines Group Inc ::AMERICAN AIRLINES - QTRLY TOTAL MAINLINE & REGIONAL REVENUE PASSENGER MILES 45.17 BILLION, DOWN 17.6%.AMERICAN AIRLINES - Q1 NET LOSS OF $5.26 PER SHARE .AMERICAN AIRLINES GROUP REPORTS FIRST-QUARTER 2020 FINANCIAL RESULTS.Q1 LOSS PER SHARE $5.26.Q1 LOSS PER SHARE $2.65 EXCLUDING ITEMS.AMERICAN AIRLINES - ENDED Q1 WITH $6.8 BILLION OF AVAILABLE LIQUIDITY AND EXPECTS TO END Q2 WITH APPROXIMATELY $11 BILLION OF LIQUIDITY.AMERICAN AIRLINES - OBTAINED RIGHT TO ACCESS $10.6 BILLION IN FINANCIAL ASSISTANCE THROUGH CARES ACT.Q1 EARNINGS PER SHARE ESTIMATE $-2.33 -- REFINITIV IBES DATA.AMERICAN AIRLINES - TEMPORARILY RELAXED ITS SEATING POLICIES AND ADJUSTED AIRPORT PROCEDURES TO ENCOURAGE SOCIAL DISTANCING.AMERICAN AIRLINES - REDUCED ONBOARD FOOD AND BEVERAGE SERVICE TO LIMIT CONTACT.AMERICAN AIRLINES - EXTENDED WAIVERS FOR TRAVEL OCCURRING THROUGH END OF SEPTEMBER 2020.AMERICAN AIRLINES - AMERICAN'S AVERAGE ESTIMATED SECOND-QUARTER 2020 CASH BURN RATE IS EXPECTED TO BE APPROXIMATELY $70 MILLION PER DAY.AMERICAN AIRLINES - IN Q1 OF 2020, COMPANY RECOGNIZED $1.4 BILLION IN NET SPECIAL ITEMS BEFORE EFFECT OF INCOME TAXES.AMERICAN AIRLINES - EXPECTS TO PLEDGE PORTION OF ASSETS AS COLLATERAL FOR FUTURE FINANCINGS, INCLUDING ABOUT $4.75 BILLION SECURED LOAN CO HAS APPLIED FOR UNDER CARES ACT.AMERICAN AIRLINES - ESTIMATES REDUCTION OF MORE THAN $12 BILLION IN ITS 2020 OPERATING AND CAPITAL EXPENDITURES.  Full Article

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UK regulator extends trans-Atlantic competition probe due to pandemic

LONDON Britain's competition regulator said it will keep open an investigation into competition on UK-US airline routes until the travel industry stabilises, imposing instead interim measures which extend previous commitments.