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American Airlines Now Sees Q4 Average Daily Cash Burn At High End Of Prior Estimation

American Airlines Group Inc. (AAL) disclosed in a regulatory filing that it now expects its fourth quarter 2020 average daily cash burn to come in at the high end of its prior estimation of $25 million-$30 million per day, due to the slowing of demand and forward bookings and modestly higher fuel prices.

As a result, the company now expects to end the fourth quarter with more than $14 billion in total available liquidity. It includes the undrawn portion of CARES Act loan from the U.S. Treasury, and excludes any additional proceeds from sales of common stock.

American Airlines said it has seen a slowing in demand and forward bookings due to the recent acceleration of the COVID-19 pandemic.

The company continues to expect the recovery in demand to be volatile and difficult to accurately forecast.

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