American Airlines’ $4 billion market cap could be $4 billion too much, writes johnsfoley.
American Airlines’ market capitalization fell by more than two-thirds to $3.8 billion in the three months to May 15, according to Refinitiv data.
American, like its U.S. peers, has been forced to ground planes amid the Covid-19 pandemic, and said in April that it expected to burn $70 million of cash a day until the end of June. The airline has been approved to receive $5.8 billion of government assistance, of which it received $2.9 billion in April. In return, it plans to issue a $1.7 billion promissory note to the U.S. government.
Representative Peter DeFazio, chairman of the House Transportation and Infrastructure Committee, on May 14 urged U.S. airlines to cap seating at 67% of capacity on narrow-body airplanes.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
European stocks extend gains from Monday's rally as airlines rallyEuropean stocks extended gains on Tuesday, after the sensational rally the previous session on news of a Franco-German proposal for a 500 billion euro...
Weiterlesen »
11 Cloth Face Masks That Have Filter PocketsSince Centers For Disease Control (CDC) is recommending all Americans wear some kind of face covering when out in public, we're stocking up on all the
Weiterlesen »
United Airlines' new CEO Kirby takes the reins, aiming to 'get through hell as quickly as possible'United Airlines' new CEO Scott Kirby faces the biggest challenge of his more than two-decade career in airlines as coronavirus devastates demand for air travel.
Weiterlesen »
What Happens To Your Miles When An Airline Declares BankruptcyTwo major airlines have now declared bankruptcy due to COVID-19. Here’s what happens to your miles in an airline bankruptcy.
Weiterlesen »
Why airlines are using diplomacy, not threats, to enforce mask rules on planesAirlines want passengers to wear masks on planes. But how do the airlines enforce that?
Weiterlesen »
Dividend-rich bank stocks are late to the rally, but their bounce may be a good sign for marketThe bounce in financial stocks could be a good sign for the broader stock market if it continues.
Weiterlesen »