American Airlines reports $2.4 billion loss in the third quarter

AFP

2020/10/22 | 209 words | LE JOURNAL DE L'AVIATION | AIR TRANSPORT
American Airlines reports $2.4 billion loss in the third quarter © Le Journal de l'Aviation - All rights reserved

American Airlines announced Thursday that its earnings plunged 73 percent in the third quarter amid the collapse in air travel during the coronavirus pandemic, causing a loss of $2.4 billion, which was not as bad as analysts expected.The company, which recently laid off 19,000 workers after Washington policymakers failed to renew funding to support airlines, said it reduced the rate at which it burns cash to $44 million a day in the July to September period, compared to $58 million daily ave...(…)

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