American Airlines Sees Cash Burn Rate Trending to Zero
In a new SEC filing, American Airlines Group (NASDAQ: AAL) said it expects second-quarter revenue down 90% versus the year ago period. This is in line with what competitor Delta Air Lines (NYSE: DAL) said this week. American also said that its cash burn rate has decelerated from the $100 million per day it saw in April, to about $40 million per day it expects at the end of June. This would be ahead of its previous forecast, and American said it expects cash burn to be near zero by the end of 2020.
Source Fool.com
