About: http://data.cimple.eu/news-article/53046461c287809b6e06c332f03d7893eb689c9a918b5e921cc7d46b

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About: http://data.cimple.eu/news-article/53046461c287809b6e06c332f03d7893eb689c9a918b5e921cc7d46b Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	American Airlines became the latest US carrier to report a hefty second-quarter loss, but said it made progress in reducing cash burn, according to results released Thursday. The company suffered a $2.1 billion loss in the quarter ending June 30, compared with profits of $662 million in the year-ago period. Revenues plunged 86.4 percent to $1.6 billion behind a steep drop in customer traffic. "This was one of the most challenging quarters in American's history," said Chief Executive Doug Parker. "We have moved swiftly to improve our liquidity, conserve cash and ensure customers are safe when they travel." Following cost-saving moves such as retiring four aircraft types and voluntary leave for thousands of employees, American reduced its daily cash burn rate from nearly $100 million in April to around $30 million in June. American warned last week that up to 25,000 workers could be laid off beginning October 1. Like other carriers, it is encouraging employees to take early retirement or another voluntary exit in an effort to reduce layoffs. The company said that while passenger demand has improved somewhat since April, "demand has weakened somewhat during July as COVID-19 cases have increased and new travel restrictions have been put into place." American said it expects third-quarter capacity to be down around 60 percent from the year-ago level. Shares rose 1.2 percent to $11.50 in pre-market trading. jmb/dw
schema:headline	American Airlines reports 2Q loss as COVID-19 hits demand
schema:mentions	Deutsche Welle American Airlines Coronavirus disease 2019 Doug Parker Market liquidity
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-07-23 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	61 (xsd:integer)
http://data.cimple...tology#hasEmotion	anger

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