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AMERICAN AIRLINES GROUP INC.

(AAL)
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American Airlines : to cut 1% of July flights as travel rebound strains operations

06/20/2021 | 07:21pm EDT
FILE PHOTO: American Airlines planes are parked at the gate during the coronavirus disease (COVID-19) outbreak  in Washington

(Reuters) - American Airlines on Sunday said it would cancel around 1% of its flights in July to serve a surprise uptick in travel demand at a time when the airline struggles with unprecedented weather and a labor shortage at some of its hubs.

American Airlines said the move would bring additional resilience and certainty to its summer operations.

"(We) feel these schedule adjustments will help ensure we can take good care of our customers and team members and minimize surprises at the airport," the company said in a statement.

The airline said its cancellations were targeted at impacting the smallest number of customers "by adjusting flights in markets where we have multiple options for re-accommodation."

The announcement was first reported by the WSJ.

Airlines and other transportation operators have seen a quick ramp up in demand as U.S. COVID-19 vaccination rates increased and travel restrictions lifted in recent weeks.

According to data from the U.S. Transportation Security Administration, nearly 50 million airport passengers were registered in May, up 19% from April. So far in June, the TSA has registered nearly 35 million air passengers.

American Airlines said the incredibly quick ramp up of customer demand also came at a time when bad weather caused multi-hour delays over the last few weeks, disrupting flight and crew work hours. The company said some of its vendors were also struggling with labor shortages, impacting the airline's operations.

(Reporting by Tina Bellon in Austin; Editing by Daniel Wallis)


ę Reuters 2021
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Financials (USD)
Sales 2021 30 615 M - -
Net income 2021 -1 811 M - -
Net Debt 2021 30 520 M - -
P/E ratio 2021 -6,59x
Yield 2021 -
Capitalization 12 593 M 12 593 M -
EV / Sales 2021 1,41x
EV / Sales 2022 1,00x
Nbr of Employees 117 400
Free-Float 98,1%
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Mean consensus HOLD
Number of Analysts 23
Last Close Price 19,45 $
Average target price 19,78 $
Spread / Average Target 1,67%
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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