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

AMERICAN AIRLINES GROUP INC.

(AAL)
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Real-time Estimate Quote. Real-time Estimate Cboe BZX - 10/27 09:13:59 am
11.855 USD   +0.47%
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American Airlines secures $5.5 billion Treasury loan, could tap more

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09/25/2020 | 06:34pm EDT
FILE PHOTO: FILE PHOTO: American Airlines planes are parked at the gate during the coronavirus disease (COVID-19) outbreak  in Washington

American Airlines said on Friday it has secured a $5.5 billion government loan and could tap up to $2 billion more in October depending on how the U.S. Treasury allocates extra funds under a $25 billion loan package for airlines.

Airlines have until Sept. 30 to decide whether to take the U.S. Treasury loans, which were authorized under the CARES Act coronavirus relief bill passed by Congress in March.

American Airlines was originally allocated $4.75 billion, but carriers including Delta Air Lines and Southwest Airlines have already said they do not intend to take their share of the package, opening the door for the funds to be used by other airlines.

Fort Worth, Texas-based American said it has already drawn down $550 million of the Treasury loan, which is backed by its loyalty program. The loans also require airlines to issue warrants and carry restrictions on executive compensation and buybacks.

Among other carriers, United Airline said this week it will tap the Treasury loans, but it was not clear whether the airline would only seek its $4.5 billion share or more.

U.S. airlines received a separate $25 billion in March under the CARES Act primarily in the form of grants to keep employees on payroll through the end of this month and avoid furloughs while the industry battles a deep downturn from the coronavirus pandemic.

The have also tapped capital markets to bolster liquidity, but with passenger traffic still down about 70% from pre-pandemic levels, the industry is urging Washington to extend another $25 billion in payroll support through March, 2021.

American said it has also closed a $1.2 billion debt offering with Goldman Sachs, backed by some intellectual property and airport slots.

By Tracy Rucinski and David Shepardson


Stocks mentioned in the article
ChangeLast1st jan.
AMERICAN AIRLINES GROUP INC. -6.35% 11.8 Delayed Quote.-58.86%
DELTA AIR LINES, INC. -6.09% 31.93 Delayed Quote.-45.40%
SOUTHWEST AIRLINES -3.95% 41.1 Delayed Quote.-23.86%
THE GOLDMAN SACHS GROUP, INC. -1.90% 201.14 Delayed Quote.-12.52%
UNITED CONTINENTAL HOLDINGS, INC. -7.02% 35.34 Delayed Quote.-59.88%
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Financials (USD)
Sales 2020 17 317 M - -
Net income 2020 -9 196 M - -
Net Debt 2020 32 284 M - -
P/E ratio 2020 -0,62x
Yield 2020 1,01%
Capitalization 6 002 M 6 002 M -
EV / Sales 2020 2,21x
EV / Sales 2021 1,39x
Nbr of Employees 107 400
Free-Float 98,9%
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Technical analysis trends AMERICAN AIRLINES GROUP INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 19
Average target price 11,63 $
Last Close Price 11,80 $
Spread / Highest target 129%
Spread / Average Target -1,41%
Spread / Lowest Target -91,5%
EPS Revisions
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
Sector and Competitors
1st jan.Capitalization (M$)
AMERICAN AIRLINES GROUP INC.-58.86%6 409
SOUTHWEST AIRLINES-20.73%25 241
JUNEYAO AIRLINES CO., LTD-28.80%3 246
ALLEGIANT TRAVEL COMPANY-18.25%2 269
CHINA EXPRESS AIRLINES CO.,LTD54.19%1 990
VIETNAM AIRLINES-23.85%1 577