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MarketScreener Homepage  >  Equities  >  Nasdaq  >  American Airlines Group Inc.    AAL

AMERICAN AIRLINES GROUP INC.

(AAL)
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Air Canada to not fly the MAX until June 30

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01/22/2020 | 09:33am EST
Two Air Canada Boeing 737 MAX 8 aircrafts are seen on the ground as Air Canada Embraer aircraft flies in the background at Toronto Pearson International Airport

Air Canada said on Wednesday it has removed Boeing's 737 MAX from its flight schedule until June 30, 2020, a day after the U.S. planemaker warned the grounded jet would not win regulatory approval until mid-year.

The Canadian airline, which has 24 MAX aircraft in its fleet, said the decision was based on operational considerations after Boeing revealed that the MAX's return to service would be further delayed.

The final decision on the aircraft's return would be based on the company's safety assessment, following a green light from the government and approval by the Federal Aviation Administration (FAA) and Transport Canada, Air Canada said.

The country's biggest carrier had previously said it would not fly the MAX until Feb. 14, 2020.

Boeing on Tuesday flagged potential developments in the MAX certification process and regulatory scrutiny on its flight control system.

Following the announcement, Canada's WestJet Airlines said it would remove the MAX from its schedule through June 24.

Expecting approval in the first quarter, American Airlines Group Inc , United Airlines Holdings Inc and Southwest Airlines Co had scheduled MAX flights in early June, but are now expected to extend their timelines.

The 737 MAX has been grounded worldwide since mid-March, as Boeing updates its flight control software at the center of two crashes in Indonesia and Ethiopia that together killed 346 people within a span of five months.

(Reporting by Sanjana Shivdas in Bengaluru; Editing by Vinay Dwivedi)

Stocks mentioned in the article
ChangeLast1st jan.
AIR CANADA -1.90% 44.45 Delayed Quote.-4.72%
AMERICAN AIRLINES GROUP INC. 0.64% 28.51 Delayed Quote.-1.22%
BOEING COMPANY (THE) -0.60% 336.28 Delayed Quote.3.85%
SOUTHWEST AIRLINES -0.30% 56.94 Delayed Quote.5.48%
UNITED AIRLINES HOLDINGS, INC. 0.62% 79.91 Delayed Quote.-9.29%
WESTJET AIRLINES LTD. 0.00%End-of-day quote.72.17%
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Financials (USD)
Sales 2020 47 678 M
EBIT 2020 3 480 M
Net income 2020 2 162 M
Debt 2020 22 731 M
Yield 2020 1,51%
P/E ratio 2020 5,55x
P/E ratio 2021 5,03x
EV / Sales2020 0,73x
EV / Sales2021 0,65x
Capitalization 12 147 M
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Number of Analysts 21
Average target price 35,53  $
Last Close Price 28,51  $
Spread / Highest target 92,9%
Spread / Average Target 24,6%
Spread / Lowest Target -8,80%
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Managers
NameTitle
William Douglas Parker Chairman & Chief Executive Officer
Robert D. Isom President
David G. Seymour Senior Vice President-Operations
Derek J. Kerr Chief Financial & Accounting Officer, Executive VP
Maya Leibman Chief Information Officer & Executive VP