American Airlines Expects Its Fourth-Quarter Cash To Be At High End Of Guidance
American Airlines has said that it expects its fourth-quarter average daily cash burn to be at the high end of its previously forecast range of between $25 million and $30 million.
The US airline industry is still losing billions of dollars every month as travel demand remains weak and recent coronavirus travel advisories have discouraged holiday travel.
"Rising COVID-19 case counts and associated travel restrictions..have resulted in a slowing of net bookings growth, which has persisted into December," American said in a statement.
The US airline now expects to end the fourth quarter with approximately $14 billion in total available liquidity.
Full Demand Recovery Not Expected For Some Time
Airlines are hoping that vaccine prospects will start lifting demand throughout 2021, but do not expect a full recovery for some time.