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American Airlines Expects Its Fourth-Quarter Cash To Be At High End Of Guidance

Published on Dec 7 2020 1:42 PM in General Industry tagged: American Airlines

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.

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.

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