American Airlines Backs Q2 System Capacity, Revenue Growth Outlook - Quick Facts

(RTTNews) - American Airlines Group Inc. (AAL) on Thursday revealed in a Form 8-K filling that its continues to expect second quarter system capacity (total available seat miles) to be down 20% to 25% and total revenue to be down approximately 40% from last year.

Amid strong summer bookings, the Company generated cash for the month of May and expects to end the second quarter with more than $20 billion of total liquidity, compared to the previous guidance of $19.5 billion.

The Company said it has experienced continued strength in net bookings and load factors, with current seven day moving average of its net bookings at approximately 90% of the level experienced in the same period of 2019.

The Company presently expects this strength in bookings to continue through the end of the second quarter and into the third quarter.

In addition, the Company's domestic load factor for the month of May was approximately 84% and greater than 88% over the Memorial Day holiday.

The Company said it is starting to see increased demand among small and medium sized enterprises and certain large corporate customers, despite business demand continuing to be weak.