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On April 5, 2020, a member of the ground staff walks past American Airlines jets parked at the gate at Ronald Reagan National Airport in Washington, D.C. REUTERS/File Photo/Joshua Roberts Reuters, July 13 – On Tuesday, American Airlines (AAL.O) said it expected its average daily cash build rate for the second quarter to be about $1 million per day, marking the first positive quarter since the COVID-19 outbreak began. The airline said it was burning approximately $100 million per day early in the pandemic. American anticipates having $21.3 billion in total available cash at the conclusion of the second quarter. (https://bit.ly/3wD1gfR) Demand for air travel in the United States has been steadily increasing for months as more Americans become immunized and travel restrictions are eased. In extended trading, shares increased 1% to $20.21 after the business indicated it anticipated a quarterly net loss of between $1.1 billion and $1.2 billion, excluding net extraordinary items. In a letter, Chief Executive Officer Doug Parker remarked, “While that is undoubtedly a big loss, it is our smallest such loss since the start of the pandemic.” According to Refinitiv data, analysts on average predicted a loss of $1.53 billion in the second quarter. Sanjana Shivdas contributed reporting from Bengaluru, and Devika Syamnath edited the piece. The Thomson Reuters Trust Principles are our standards./nRead More

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