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AMERICAN AIRLINES GROUP INC.

(AAL)
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American Airlines : Southwest Airlines cuts flights to fix operational challenges

08/27/2021 | 12:26am EDT
Outbreak of the coronavs disease (COVID-19) in Oakland, California

CHICAGO (Reuters) - Southwest Airlines will run fewer flights through the end of the year in a bid to fix issues that disrupted operations this summer https://www.reuters.com/business/aerospace-defense/southwest-cancels-hundreds-flights-after-computer-related-stoppage-2021-06-16 and led to flight delays and cancellations.

The low-cost carrier on Thursday said it will reduce an average of 27 flights a day from Sept. 7 through Oct. 6 and cut 162 flights a day from Oct. 7 through Nov. 5.

It plans to adjust flight schedules in November and December as well, but said it would protect holiday bookings.

"We're confident these adjustments will create a more reliable travel experience," Southwest Airlines CEO Gary Kelly said in a statement.

The cuts are on top of its recent reductions in response to slower bookings and increased cancellations due to the spread of the Delta variant of the coronavirus.

Southwest had added more flights to its schedule to capitalize on a recovery in air travel and gain market share. However, like most in the sector, it has struggled to keep up, grappling with staff shortages.

Both American Airlines and Southwest had to cancel summer flights due to the crunch, bad weather and less network flexibility. Now they are recalling crews and resuming hiring.

The Dallas-based airline said it was "aggressively" hiring.

To deal with staff crunch, Southwest is recalling employees, who are on voluntary leave. The company expects to have all of those employees back by the end of the year.

(Reporting by Rajesh Kumar Singh; Editing by Himani Sarkar)


© Reuters 2021
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Analyst Recommendations on AMERICAN AIRLINES GROUP INC.
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Financials (USD)
Sales 2021 29 327 M - -
Net income 2021 -2 454 M - -
Net Debt 2021 31 848 M - -
P/E ratio 2021 -4,97x
Yield 2021 -
Capitalization 12 878 M 12 878 M -
EV / Sales 2021 1,53x
EV / Sales 2022 1,04x
Nbr of Employees 117 400
Free-Float 98,1%
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Mean consensus HOLD
Number of Analysts 22
Last Close Price 19,89 $
Average target price 20,13 $
Spread / Average Target 1,18%
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Managers and Directors
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
Kevin Brickner Senior Vice President-Technical Operations