American airlines expects q2 revenue to be down about 90%

American airlines - company expects its q2 2020 revenue to be down approximately 90% versus q2 of 2019.american airlines - has taken significant cost reduction actions that have removed more than $13.5 billion from its operating and capital budgets for 2020.american airlines - expect that its liquidity will amount to approximately $11 billion as of june 30, 2020.american airlines - flown system capacity was down about 75% year-over-year in april, and down approximately 80% year-over-year in may.american airlines - cash burn rate has decelerated from peak of over $100 million per day in april to about $40 million per day forecasted for month of june.american airlines - company seeks to reduce its cash burn rate to approximately zero by end of 2020.american airlines - june system capacity is expected to be down about 75% year-over-year.american airlines - has applied for a secured loan in amount of approximately $4.75 billion through loan program under cares act.american airlines -since middle of may, has observed positive net bookings in each of seven advanced purchase windows that it regularly monitors.american airlines - loan from cares act expected to be 5-year, senior secured obligation at variable interest rate of libor plus 3.50%.american airlines -planning to fly 55% of its domestic schedule & nearly 20% of its international schedule in july 2020 versus same period last year.
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