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Stock Alert: American Airlines 4% Higher

Shares of American Airlines Group Inc. (AAL) are climbing more than 6% Wednesday morning at $13.60. The stock has traded in the range of $8.25- $34.99 in the last one year.

The airline today said it will modify its long-haul international schedule with a view to bringing long-term profitability. The company has been badly affected by the outbreak of Covid-19. It plans to cut several of its routes which are in low demand now, and focus on markets that create good connectivity for customers.

The company expects summer 2021 long-haul international capacity to be down 25% compared to 2019.

"COVID-19 has forced us to reevaluate our network," said American's Chief Revenue Officer Vasu Raja. "American will have a significantly smaller international network in the year ahead, but we are using this opportunity to hit reset and create a network using the strength of our strategic hubs that we can build and grow upon and be profitable on in this new environment."

American Airlines is scheduled to start its services in full capacity beginning today.

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