April 13. American Airlines (AAL.O) said on Tuesday it turned cash flow positive in March on an adjusted basis, helped by a recovery in demand for domestic travel.
The U.S. airline expects its average daily cash burn rate for the first three months to be about $27 million per day compared to its previous forecast of $30 million and end the quarter with about $17.3 billion in total available liquidity.
The Texas-based company expects revenue to plunge about 62% compared with the same period in 2019, and to post a loss of about $2.7 billion to $2.8 billion, excluding financial assistance under the U.S. payroll support program for airlines.
American had previously forecast a revenue decline of between 60% and 65%.