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AMERICAN AIRLINES GROUP INC.

(AAL)
  Report
Delayed Nasdaq  -  04:00 2022-09-23 pm EDT
12.21 USD   -3.93%
09/22Wall Street ends down for third day as growth concerns weigh on tech
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09/22U.S. flight cancellations fell in July but complaints remained high
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U.S. flight cancellations fell in July but complaints remained high

09/22/2022 | 02:50pm EDT
Passengers line up before their flights at Hartsfield-Jackson Atlanta International Airport

WASHINGTON (Reuters) - U.S. passenger airline flight cancellations in July fell to 1.8% from 3.1% in June, although air travel service complaints rose 16.5%, the U.S. Transportation Department said on Thursday.

The Transportation Department has been pressing airlines to improve service and boost staffing as summer travel woes snarled tens of thousands of flights. Airlines say Federal Aviation Administration (FAA) air traffic control staffing has been a significant factor in cancellations and delays.

The Transportation Department said complaints in July were more than 260% above pre-pandemic levels.

"The difference between a normal level of cancellation -- it is never going to be zero with weather and stuff -- a normal level is between 1 and 2%," Transportation Secretary Pete Buttigieg said last week. "If it's 3% we feel it, it's quite bad. If it is 4% that's when you start seeing words like meltdown or chaos or hell in headlines,"

The union representing federal air traffic controllers says the FAA needs to do a better job of ensuring adequate staffing.

The National Air Traffic Controllers Association said the FAA had over 15,000 total controllers in 2011, including over 11,750 fully certified controllers, but said in July that in 2022 "there were more than 1,000 fewer (certified controllers) and 1,500 fewer total controllers on-board." The FAA says it is on track to hire 1,000 controllers this year.

This month, Democratic U.S. Senator Jeanne Shaheen asked the FAA to report additional air traffic control staffing data to Congress, acknowledging that airline staffing issues were impacting flights but saying that "understaffing at critical ATC facilities has also played a role."

Last week, United Airlines Chief Executive Scott Kirby said air traffic control shortages were "by far ... the number one issue" impacting traffic.

"When you have air traffic control close a center down or close a region it leads to hundreds of delays and cancellations," Kirby said. "When we just point the finger at airlines, when that's not the biggest issue or the second biggest or the third biggest or the fourth biggest, we can't fix it."

Kirby said the aviation industry must push for funding to ensure FAA has more staff.

The FAA in response pointed to data that showed air carrier delays outpaced any other factor in July. "Airlines should focus on restoring customers' faith by being transparent about the cause of interruptions and by delivering what they promise," the FAA said.

(Reporting by David Shepardson; Editing by Leslie Adler)

By David Shepardson


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AMERICAN AIRLINES GROUP INC. -3.93% 12.21 Delayed Quote.-32.02%
UNITED AIRLINES HOLDINGS, INC. -4.01% 33.07 Delayed Quote.-24.46%
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Financials (USD)
Sales 2022 47 848 M - -
Net income 2022 -753 M - -
Net Debt 2022 32 147 M - -
P/E ratio 2022 -8,91x
Yield 2022 -
Capitalization 7 935 M 7 935 M -
EV / Sales 2022 0,84x
EV / Sales 2023 0,73x
Nbr of Employees 129 200
Free-Float 98,8%
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Mean consensus HOLD
Number of Analysts 20
Last Close Price 12,21 $
Average target price 17,48 $
Spread / Average Target 43,2%
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Managers and Directors
Robert D. Isom Chief Executive Officer & Director
Derek J. Kerr Chief Financial Officer & Executive Vice President
William Douglas Parker Chairman
Ganesh Jayaram Chief Digital & Information Officer & Executive VP
David G. Seymour Chief Operating Officer & Senior Vice President
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