Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nasdaq  >  American Airlines Group    AAL

AMERICAN AIRLINES GROUP

(AAL)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

Airlines see new government in Venezuela as key to repayment of debt: IATA

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/10/2019 | 08:42pm EDT
FILE PHOTO: People walk at Simon Bolivar airport in Caracas

PANAMA CITY (Reuters) - International airlines are pinning their hopes on a change of government in Venezuela before some $4 billion owned to the firms by the state might be repaid, a top executive with the International Air Transport Association (IATA) said on Tuesday.

Venezuela has suffered a severe economic and political crisis over the past several years, including wide-spread shortages of basic goods and soaring inflation, which has also caused debts owed to the airlines to pile up.

Due in large part to strict currency controls in place since 2003, the government of President Nicolas Maduro has for years failed to reimburse the airlines in hard currency for ticket sales in local currency.

"Right now, recovering this money is a lost cause," said Peter Cerda, IATA's regional vice president for the Americas, on the sidelines of the Aviation Day industry forum held in Panama City.

"We hope that in the future, when there's a change of administration, it allows us to have a dialogue about recovering that money," he added.

Cerda added that IATA, which represents some 240 airline companies, has not had any talks with Maduro's government in two years.

As Venezuela's economy has continued to shrink, airlines like Delta Air Lines Inc, Deutsche Lufthansa AG and LATAM Airlines Group SA have cut their service to the South American country. Other carriers like Air Canada and American Airlines Group Inc stopped their flights in and out of Venezuela citing security concerns.

"There isn't much chance the companies will return... The government still owes the industry and until this is fixed it's difficult to expect any improvements," said Cerda.

Venezuela's communications ministry did not respond to a request for comment.

(Reporting by Elida Moreno; Additional reporting by Brian Ellsworth in Caracas; Writing by David Alire Garcia; Editing by Christopher Cushing)

Stocks mentioned in the article
ChangeLast1st jan.
AIR CANADA 0.51% 43.13 Delayed Quote.64.48%
AMERICAN AIRLINES GROUP 0.03% 29.95 Delayed Quote.-6.73%
LATAM AIRLINES GROUP SA End-of-day quote.
LUFTHANSA GROUP AG 2.05% 14.945 Delayed Quote.-24.14%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on AMERICAN AIRLINES GROUP
09/14U.S. House panel wants Boeing CEO to allow employee interviews on 737 MAX cra..
RE
09/13AMERICAN AIRLINES : Women in flight and the art of aviation
PU
09/13Crisis-hit Boeing readies huge effort to return 737 MAX to the skies
RE
09/12DOUG'S BAG : Carrying on a pilot's legacy
PU
09/12AMERICAN AIRLINES : Raises $1.2 Million for Answer ALS at Annual Charity Golf To..
PU
09/10AIRLINES SEE NEW GOVERNMENT IN VENEZ : Iata
RE
09/09737 MAX Grounding Hampers Brazil's Gol -- WSJ
DJ
09/08TRAVEL ALERT : Update on Hurricane Dorian
PU
09/07Spirit Airlines sales to take $25 million hit from Hurricane Dorian
RE
09/06AMERICAN AIRLINES : Our Commitment to Safety – A Message From David Seymou..
PU
More news
Financials (USD)
Sales 2019 46 042 M
EBIT 2019 3 687 M
Net income 2019 2 113 M
Debt 2019 25 288 M
Yield 2019 1,37%
P/E ratio 2019 6,50x
P/E ratio 2020 5,05x
EV / Sales2019 0,84x
EV / Sales2020 0,76x
Capitalization 13 336 M
Chart AMERICAN AIRLINES GROUP
Duration : Period :
American Airlines Group Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AMERICAN AIRLINES GROUP
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 38,26  $
Last Close Price 29,95  $
Spread / Highest target 83,6%
Spread / Average Target 27,8%
Spread / Lowest Target -16,5%
EPS Revisions
Managers
NameTitle
William Douglas Parker Chairman & Chief Executive Officer
Robert D. Isom President
Derek J. Kerr Chief Financial & Accounting Officer, Executive VP
Maya Leibman Chief Information Officer & Executive VP
Craig Barton Vice President-Technical Services
Sector and Competitors
1st jan.Capitalization (M$)
AMERICAN AIRLINES GROUP-6.73%13 336
SOUTHWEST AIRLINES20.03%29 988
JUNEYAO AIRLINES CO LTD5.67%3 678
ALLEGIANT TRAVEL COMPANY50.55%2 431
PEGASUS HAVA TASIMACILIGI AS--.--%1 112
SPICEJET LTD44.77%1 112