American Airlines Expects Capacity Cuts to Continue


American Airlines believes that the pandemic will continue to drag down demand and schedules into 2021.

American Airlines president Robert Esom made that announcement on Tuesday. Currently, the airline is only flying about 45 percent of its 2019 schedule. “We anticipate that’s something that will carry on into January and February. We are hopeful that the vaccine will show some promise,” he said.

Many have hoped that with widespread vaccination the travel industry could make a comeback sooner than expected. However, airlines and other companies operating in the industry have continued to struggle as cases continue to rise.

Investors have been informed of potential fourth-quarter revenue hits due to the increase in cases and additional travel restrictions from around the globe. Although, many individuals travel for the holidays despite the pandemic.

Hopefully, 2021 will be a better year for all industries and individuals.

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Economics, Finance and Investing