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

AMERICAN AIRLINES GROUP INC.

(AAL)
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American Airlines : Thanksgiving travelers give U.S. airports their busiest weekend since March

11/23/2020 | 09:31am EST
Travelers sit in a lounge area as Delta Air Lines plane park at a gate in McCarran International Airport in Las Vegas

(Updates headline, first and second paragraphs)

WASHINGTON/CHICAGO, Nov 23 (Reuters) - More than 3 million airline passengers passed through U.S. airports over the weekend, disregarding calls to avoid Thanksgiving trips and making it the busiest air-travel weekend since coronavirus lockdowns hit in mid-March.

The Transportation Security Administration reported the traffic based on traveler numbers at airport security checkpoints.

The Centers for Disease Control and Prevention (CDC) on Thursday urged Americans not to travel during this week’s Thanksgiving holiday to mitigate the spread of the coronavirus as cases of COVID-19 spike around the United States.

For an interactive graphic tracking the global spread of COVID-19, open https://graphics.reuters.com/world-coronavirus-tracker-and-maps/ in an external browser.

U.S. airline executives last week said they had seen a rise in cancellations and slower bookings as COVID-19 cases increase, though Southwest Airlines Chief Executive Gary Kelly on Thursday said he still expected the month of November to be better for bookings than October and September.

While the TSA numbers show an improvement, screenings are still nearly 60% lower than at the same time last year.

Airlines are burning through millions of dollars every day as they wrestle with a sharp downturn in demand. But there have been pockets of improvement, and some carriers were hoping for upticks in travel around the Thanksgiving and winter holidays.

TSA screened 1.047 million passengers on Sunday -- the highest number of any day since mid-March, along with 984,369 on Saturday and 1.019 million on Friday.

There have been just three days since March 16 that the number of U.S. airline passengers screened topped 1 million.

Amtrak Chief Executive Bill Flynn told reporters Monday that demand at the passenger railroad for the Thanksiving travel period has "softened just a little bit over the last several days" to 20% of last year's demand, citing the CDC recommendation.

U.S. airlines say travel demand remains down 62% from a year ago, while international travel demand remains down more than 70%. Some officials think U.S. restrictions barring many non-U.S. citizens from arrival could be eliminated or reduced with new testing.

The CDC on Saturday said COVID-19 testing before and after international travel can reduce risk and "make travel safer by reducing spread on planes, in airports and at destinations."

On Wednesday, the chief executives of the seven largest U.S. airlines made a fresh plea for more payroll relief in a letter to congressional leaders.

American Airlines and United Airlines last month furloughed 32,000 workers.

The COVID-19 pandemic brought travel to a near halt earlier in the year, forcing airlines to scale back operations and seek government bailouts. (Reporting by David Shepardson in Washington and Tracy Rucinski in Chicago Editing by Andrea Ricci, Matthew Lewis and Cynthia Osterman)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AMERICAN AIRLINES GROUP INC. -4.14% 15.76 Delayed Quote.-0.06%
UNITED CONTINENTAL HOLDINGS, INC. -5.18% 43.89 Delayed Quote.1.48%
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Financials (USD)
Sales 2020 17 185 M - -
Net income 2020 -9 408 M - -
Net Debt 2020 32 875 M - -
P/E ratio 2020 -0,81x
Yield 2020 0,57%
Capitalization 8 623 M 8 623 M -
EV / Sales 2020 2,41x
EV / Sales 2021 1,62x
Nbr of Employees 110 500
Free-Float 99,1%
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Mean consensus UNDERPERFORM
Number of Analysts 21
Average target price 11,89 $
Last Close Price 15,76 $
Spread / Highest target 71,3%
Spread / Average Target -24,6%
Spread / Lowest Target -93,7%
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Managers and Directors
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