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American Airlines traffic hits coronavirus-era high
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Airlines’ $46B coronavirus stimulus has yet to be distributed
The Congressional OversightCommittee says the Treasury Department hasn’t yet disbursed all of the $46 billion in airline coronavirus relief. FOX Business’ Edward Lawrence with more.
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Wednesday marked a milestone in traveler demand for American Airlines, which like other carriers, has seen its business hobbled by the halt in non-essential travel during the COVID-19 pandemic.
The largest U.S. airline transported the most customers since March 22, when the pandemic was beginning to rapidly spread throughout the world, American told FOX Business Friday.
Despite the gain, the Fort Worth, Texas-based carrier cautioned that traveler demand is still down 84 percent compared with this time last year.
“In April, we had a 15 percent load factor and so far, month-to-date in May, we’re at 35 percent,” American Airlines executives said during a digital investor conference. Meanwhile, in April of 2019, the carrier was flying planes that were 85 percent full. The measure, known in the industry as load factor, ticked up to 86 percent in May of that year.
CORONAVIRUS FORCES AMERICAN AIRLINES TO TEMPORARILY SUSPEND MOST NYC FLIGHTS