American Airlines is suspending flights to 15 US airports

American Airlines Group Inc AAL plans to halt flights to 15 U.S. airports in October as demand for air travel remains weak due to ongoing coronavirus concerns. The service reductions were enacted in consideration of the impending expiration of minimum service requirements under the Coronavirus Aid, Relief and Economic Security (“CARES”) Act on September 30. Notably, American Airlines received $5.8 billion in payroll aid as part of the Coronavirus Aid, Relief and Economic Security (“CARES”) Act CARES Act.

The airline will suspend flights to Del Rio, TX (DRT); Dubuque, IA (DBQ); Florence, SC (FLO); Greenville, NC (PGV); Huntington, WV (HTS); Joplin, MO (JLN); Kalamazoo/Battle Creek, MI (AZO); Lake Charles, LA (LCH); New Haven, CT (HVN); New Windsor, NY (SWF); Roswell, NM (ROW); Sioux City, IA (SUX); Springfield, IL (SPI); Stillwater, OK (SWO); and Williamsport, PA (IPT). Approximately 700 flights to and from these airports will be suspended from October 7th to November 3rd.

A statement from American Airlines said: “The airline will continue to reevaluate its plans for these and other markets as an extension of the Payroll Support Program continues to be considered.”

American Airlines Group Inc. Price

American Airlines Group Inc. Price | Quote from American Airlines Group Inc

It’s been a while since Congress began discussions on whether to give U.S. airlines an additional $25 billion in wage subsidies so that thousands of airline workers can stay employed (under provisions of the CARES Act). Airline employees will not be laid off before September). 30) and the minimum requirements for air services can be expanded. American Airlines announced that flight cuts could increase if Congress’ decision is not positive.

Zack’s Rank and Key Tips

American Airlines has a Zacks Rank #3 (Hold). Some better-rated stocks in the broader transportation sector include Canadian Pacific Railway Limited CP, Knight-Swift Transportation Holdings Inc KNX and Werner Enterprises Inc WERN. While Knight-Swift and Werner Enterprises have a Zacks Rank #1 (Strong Buy), Canadian Pacific has a Zacks Rank #2 (Buy). You can see You can see the complete list of today’s Zacks #1 Rank stocks here.

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