American Airlines said on Tuesday it turned cash flow positive in March on an adjusted basis, helped by a recovery in demand for domestic travel.
See also: American celebrates 40th anniversary its AAdvantage program.
Excluding daily payment of $8 million towards regular debt and severance packages, it was cash flow positive, the company said in a regulatory filing, adding it burned about $4 million of cash per day in March compared with $30 million in the previous quarter, Reuters reported.
See also: American Airlines prepares its fleet to meet growing demand.
The U.S. airline expects its average daily cash burn rate for the first three months to be about $27 million per day compared to its previous forecast of $30 million, and end the quarter with about $17.3 billion in total available liquidity.
The company expects revenue to plunge about 62% compared with the same period in 2019, and to post a loss of about $2.7 billion to $2.8 billion, excluding financial assistance under the U.S. payroll support program for airlines.
American had previously forecast a revenue decline of between 60% and 65%.
Related Topics
Arajet Announces Direct Flights Between Punta Cana and Córdoba, Argentina
Porter Airlines Announces Flights to Mexico, the Caribbean, and Costa Rica from Canada for Winter
LATAM Launches Two New Routes Between Brazil and Argentina
Aeroméxico Resumes Direct Route Between Mexico City and Cali, Colombia
Plataforma Informativa de Aviación Comercial con 13 años de trayectoria.