【rejecting her twin alphas free online】American Airlines slashes flights but has no plans to halt U.S. service
By David Shepardson
WASHINGTON (Reuters) - American Airlines Co said on Thursday it is rejecting her twin alphas free onlinecutting additional flights this summer as travel demand has drastically shrunk amid the coronavirus pandemic.
Vasu Raja, American Airlines' senior vice president of Network Strategy, told Reuters that the airline is cutting between 70% and 75% of flights in April and about 80% of flights in May. For this month and May it is cutting nearly 90% of its international flights.
Raja said domestic demand will remain weak into May, citing of the lack of bookings.
Still, the largest U.S. airline has no plans to halt U.S. flights entirely, noting medical workers and others who must travel, sometimes for urgent medical reasons. "We are making no plans for the cessation of flying," Raja said. "The important thing is to provide a minimum level of essential service to customers ... but we do it in such a way where we don't burn an excessive amount of cash."
Across the industry, at some major airports overall U.S. flights are down 50% to 70%, officials say. The number of people who went through U.S. airport checkpoints hit another new low on Wednesday at just 136,023, down from 2.2 million a year ago.
American also disclosed on Thursday that it will cancel more than 60% of its total international flights this summer, including an 80% reduction in Pacific capacity, a 65% reduction in Atlantic and 48% reduction in Latin America. American is also delaying the launch of new international routes until 2021, delaying the launch of new winter seasonal service and suspending 25 summer seasonal flights.
The cuts in May are striking. American Airlines will go from the pre-crisis typical 250 weekday flights from Washington Reagan National Airport to about 28 in May. It will shrink from close to 100 flights a day at New York's John F. Kennedy International Airport to just 11 flights a day. At its Dallas-Fort Worth hub, American will decline from nearly 1,000 planned flights a day this summer to around 350.
The cuts are prompted by the sharp demand reduction. "Literally we have flights that are 5% full," Raja said. Washington flights are often 10-12% full and been hurt by a big decline in government travel, he added.
Still, American has no idea when things will turn around. "If we are the bottom it is only because gross bookings have fallen to zero and they can't go any lower than that," Raja said. "Pretty soon we'll even run out of people to cancel on U.S. airlines."
American will not fly its A330 fleet through the end of the summer to conserve costs.
Story continues
American has said it is eligible for $12 billion out of $50 billion in U.S. government loans and grants for the airline industry.
(Reporting by David Shepardson in Washington; Editing by Matthew Lewis)
View comments
-
The Gross Law Firm Announces Class Actions on Behalf of Shareholders of WORX, CLNY and CCLTechnical Enzymes Market 2028 - Global Insights on Trends, Regulatory Landscape, Value Chain Analysis, Key Stakeholders, Growth Drivers and Future Outlook: Adroit Market ResearchManganese X Receives Eligibility for DTC Trading in the U.S.Payments on mortgages to be suspended across Italy after coronavirus outbreakFOREX-Dollar wallows near 2 1/2-year low on vaccine, stimulus optimismA Sliding Share Price Has Us Looking At Rexnord Corporation's (NYSE:RXN) P/E RatioINVESTOR APRIL DEADLINE REMINDER: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Aaron's, Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the FirmThree 3D-printed coronavirus-fighting products companies are makingHqO Launches Suite of Features to Facilitate Return to WorkGlobal Automotive Plastics Markets, 2020-2027 - Focus on ABS, PP, PU, PVC, PE, PC, PMMA, PA & Others
下一篇:Genco Shipping & Trading (GNK) Lags Q3 Earnings and Revenue Estimates
- ·Gene Therapy Market to Surpass $6.21 Billion Globally, by 2027 at 13.4% CAGR: Allied Market Research
- ·Companies slammed by coronavirus look to cut contributions to their employees' 401(k)s
- ·Roche Gets Emergency FDA Approval For Covid-19 Antibody Test, Starts Shipping
- ·2 Beaten-Up Penny Stocks That Are Set for a Rebound
- ·How Bassett (BSET) Stock Stands Out in a Strong Industry
- ·Camber Energy, Inc. and Viking Energy Group, Inc. Amend Definitive Merger Agreement Relating to Their Planned Combination and Provide Update on Status of Merger
- ·GLOBAL MARKETS-Asian shares go flat as China data disappoints
- ·GBP/USD Price Forecast – British Pound Charging Into Big Figure Again
- ·GBP/USD Price Forecast – British Pound Continues to Struggle at Same Level
- ·Media Stock Earnings Roster This Week: DISCA, FOXA & More
- ·Data Science Salon Launches Three Four-Day Verticalized Virtual Salons
- ·Green Dot: 3Q Earnings Snapshot
- ·Storms that slammed Central America in 2020 just a preview, climate change experts say
- ·Natural Gas Price Fundamental Daily Forecast – Crushed by ‘Exceptionally Comfortable’ Temps Ahead of EIA Data
- ·Spotify Rolls Out Standalone Streaming On Apple Watch App: TechCrunch
- ·Apple's New Deal With Amazon Prime Video Is a Game Changer
- ·Akoustis Reports Third Quarter FY20 Results
- ·The TriNet Group (NYSE:TNET) Share Price Has Gained 256%, So Why Not Pay It Some Attention?
- ·Capstar Financial Holdings, Inc. (NASDAQ:CSTR) Passed Our Checks, And It's About To Pay A US$0.05 Dividend
- ·Cytokinetics (CYTK) Reports Q4 Loss, Misses Revenue Estimates
- ·SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Spirit AeroSystems Holdings, Inc. - SPR
- ·GLOBAL MARKETS-Rally pauses ahead of ECB stimulus plan
- ·Brexit trade talks in 'difficult phase', British minister says
- ·Market Sentiment Improves As Investors Pin Hopes on G7 Action
- ·Goodfood’s Strong Growth Continues as Its Active Subscribers Count Increases 33% to Reach 306,000
- ·Asian Shares Lower as US-China Tensions Weigh on Investor Sentiment
- ·Warren Buffett: Know When to Cut Your Losses
- ·NeoPhotonics (NPTN) Misses Q3 Earnings Estimates
- ·Smithfield Foods Says That the Company and Its Team Members Want the Same Thing: To Protect Employee Health and Safety While Also Safeguarding America’s Food Supply
- ·Memgen Announces Addition to Board of Directors
- ·AP Top Extended Financial Headlines at 9:52 p.m. EST
- ·Sick of Roaming Fees? Now Your Carrier Is Hurting Too
- ·Don't Let China Control Your Networks, U.S. Envoy Tells Europe
- ·Unusual Options Activity Insight: Plug Power
- ·Equitrans Midstream Corporation (ETRN) Stock Moves -1.99%: What You Should Know
- ·What Kind Of Shareholders Own Mitek Systems, Inc. (NASDAQ:MITK)?