American Airlines to Deepen NYC Flight Cuts on Coronavirus Spike
American Airlines Group AAL will be cancelling more flights to and from New York City area airports due to “rapidly evaporating" travel demandas COVID-19 cases increase in the region. About a week ago, the Centers for Disease Control and Prevention (CDC) issued an advisory warning against all non-essential travel to and from New York, Connecticut and New Jersey.
American Airlines will now operate only 13 daily flights from New York's JFK and LaGuardia airports and New Jersey's Newark airport between Apr 9 and May 6. This is a massive reduction from the April 2019 average of 271 daily flights across all three airports.
Following the CDC warning and the extensive spread of the coronavirus in New York and New Jersey, United Airlines UAL last week announced a temporary suspension of approximately 90% of all flights in and out of Newark and LaGuardia. The suspensions are expected to continue for three weeks.
American Airlines Group Inc. Price
Meanwhile, Spirit Airlines SAVE has cancelled all flights to and from New York, Connecticut and New Jersey at least through May 4 in response to the CDC warning. Additionally, in compliance with the CDC warning, JetBlue Airways Corp. JBLU will slash its April capacity by 80%. With this trimmed schedule, the airline’s overall capacity will be lowered to 300 daily departures in the month from its normal average of 1,000, thus implying an approximate 70% cut. Flights to and from New York City area airports will fall to 60 from its daily average of 205. Beyond April, flights might be curtailed further to 40 per day.
American Airlines carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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