AAL - American Airlines Group Inc.

NasdaqGS - NasdaqGS Real-time price. Currency in USD
27.73
+0.49 (+1.78%)
At close: 4:00PM EST
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Previous close27.24
Open27.50
Bid27.63 x 1300
Ask27.78 x 4000
Day's range27.47 - 27.96
52-week range24.23 - 37.23
Volume6,094,102
Avg. volume7,145,253
Market cap12.145B
Beta (3Y monthly)1.64
PE ratio (TTM)7.85
EPS (TTM)N/A
Earnings dateN/A
Forward dividend & yield0.40 (1.47%)
Ex-dividend date2019-11-05
1y target estN/A
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  • The Zacks Analyst Blog Highlights: American Airlines, Southwest Airlines, United Airlines, Allegiant Travel and Hawaiian Holdings
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  • Gol Airline Seeks Closer Ties to American and United After Split With Delta
    Bloomberg

    Gol Airline Seeks Closer Ties to American and United After Split With Delta

    (Bloomberg) -- Gol Linhas Aereas Inteligentes SA, Brazil’s largest airline, is holding talks about expanding ties with American Airlines Group Inc. and United Airlines Holdings Inc. after parting ways with longtime U.S. partner Delta Air Lines Inc.The carriers are discussing whether to establish codeshare deals, which enable airlines to book passengers on each other’s flights, Gol Chief Financial Officer Richard Lark said Tuesday. That would be a step up from Gol’s existing interline agreements with American and United, which allow airlines to handle passengers on trips that involve multiple carriers.“We are in discussions with both United and American about converting those interlines into codeshares, and we may have both of those as codeshare partners,” Lark said in an interview at Bloomberg’s New York headquarters. An agreement could be reached with one or both of the U.S. airlines “over the next couple of months,” he said.Gol is eyeing deeper ties with American and United after Delta said in September that it would sell its stake in the Brazilian airline and buy 20% of Latam Airlines Group SA. An expanded relationship with Gol would be especially beneficial to American, which was left without a South American partner after its proposed partnership with Latam ran into legal trouble and prompted the Chilean company to join forces with Delta.United already has a partnership with Azul SA, the third-largest domestic airline in Brazil after Gol and Latam. United holds an 8% stake in Azul and is is also in talks to form a joint venture with Avianca Holdings SA and Copa Holdings SA.American said it didn’t have “anything to confirm at this time.” United declined to comment.Delta has not indicated when or how it intends to sell its Gol stock, Lark said. The U.S. carrier owns a 9% stake, according to Gol. The Sao Paulo-based company isn’t discussing deals in which American or United would take equity stakes in Gol, he said.“The company doesn’t have a need today for any financing from that source,” Lark said.Gol’s fleet is made up entirely of Boeing Co. 737 jets, and the airline has been hurt by the March grounding of the planemaker’s Max models following two deadly crashes. Gol expects the U.S. Federal Aviation Administration to clear the aircraft to fly next month with Brazilian regulators following suit soon afterward, Lark said. Gol anticipates returning the planes to service in January, he said.That’s a more optimistic outlook than at American, United and the Max’s largest operator, Southwest Airlines Co., which have all removed the model from their flight schedules through early March. Even after the FAA lifts the flying ban, regulators would still need to sign off on updated training materials for pilots in January, Boeing said last week.Pickle ForkGol has also taken some older 737 NG models out of service after regulators ordered inspections of the so-called pickle fork, part of the structure that helps attach the wings.The company’s fleet has been more affected than average by the pickle-fork issue, in part because of conditions at Brazilian airports that include shorter runaways and a different type of asphalt, Lark said. Gol leased the aircraft from third parties and not from Boeing, which customizes planes for specific conditions.Those factors, combined with Gol’s operational model of intensive use of the planes, led to 11 jets being taken out of service, Lark said. About 9% of Gol’s fleet of 125 aircraft has been affected by the pickle-fork inspections, according to the company. Boeing said last week that less than 5% of NG planes subject to initial inspections had cracks.Looking ahead to 2020, Lark is bullish on both oil prices and the Brazilian real, both of which figure prominently into the company’s business outlook.‘Signs of Life’Gol sees a barrel of West Texas Intermediate crude fetching a price in the high $60s next year, with Brent, a global benchmark, in the low $70s.Lark said he expects the Brazilian currency, which fell 7.8% against the dollar this year through Wednesday, to hold steady or appreciate over the next six to 12 months. By the end of next year, Lark said the real could potentially be in the range of 3.6 to the dollar. That would be a much stronger level than the median analyst estimate compiled by Bloomberg, which is about 4 reais to the dollar.Gol is already seeing an uptick in travel as Brazil’s economy continues to recover from a deep slump in 2015 and 2016.“The business customer has been the main driver over the last couple of years in terms of the consumption of air travel and absorbed a lot of the fare increases,” Lark said. But in September, Gol started “to see signs of life in the Brazilian consumer, the non-business traveler, the leisure traveler in a variety of sectors, including ours.”\--With assistance from Mary Schlangenstein and Justin Bachman.To contact the reporters on this story: Richard Richtmyer in New York at rrichtmyer@bloomberg.net;Jessica Summers in New York at jsummers24@bloomberg.net;Fabiola Moura in Sao Paulo at fdemoura@bloomberg.netTo contact the editors responsible for this story: Brendan Case at bcase4@bloomberg.net, Richard RichtmyerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

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  • United Airlines Suspends Boeing MAX Flights Until March 2020
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  • An Intrinsic Calculation For American Airlines Group Inc. (NASDAQ:AAL) Suggests It's 45% Undervalued
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  • Bloomberg

    Google Partners With Citi to Offer Customers Checking Accounts

    (Bloomberg) -- Google is taking its deepest dive yet into the financial lives of its users with plans to roll out a checking-account service.Citigroup Inc. and a California credit union are the tech giant’s initial partners for the venture, which will let users access their bank accounts through the Google Pay app beginning next year, according to people familiar with the matter. Other banks could join up later, the people said, asking not to be identified because the plans haven’t been announced.“We’re exploring how we can partner with banks and credit unions in the U.S. to offer smart checking accounts through Google Pay, helping their customers benefit from useful insights and budgeting tools,” Google said in an emailed statement, adding that the accounts will carry federally guaranteed insurance.The move is the latest sign of Silicon Valley’s determination to muscle in on financial firms’ territory, looking to expand their hold on customers and accumulate data on their finances. At the same time, it shows banks are more willing to pair up with technology companies in their quest to avoid getting shut out of the relationship entirely. In the Google arrangement, the financial institutions will handle most of the compliance requirements.Google has spent years building out its payments capabilities, offering consumers the ability to send money to friends and check out both online and in stores through Google Pay. With the checking accounts, consumers will be able to receive their paychecks and transact solely inside the Google ecosystem.“We’re going to see more of this, but it’s not the death of banking,” Bryce VanDiver, a partner with Capco who advises banks and payment companies, said in a telephone interview. “Compliance is still being manged by Citi. If you look at banks’ core competencies, compliance being one of those, they’re really good at that.”The Wall Street Journal reported Google’s plan earlier Wednesday.For Google, the trove of data associated with checking accounts and financial products is another step in its push to collect information on all aspects of consumers’ lives. The firm has a wealth of information on consumers’ search behavior from its flagship site as well as partnerships with the largest U.S. health-care systems to analyze consumers’ health data. The move comes at a time when Google and other large tech companies are under increased scrutiny in D.C. with antitrust probes around competition law.“This is probably more about Google Pay and how they plan to position that going forward to access all financial products, not just credit cards,” VanDiver said.One of the people said Google partnered with Citigroup in part because the lender has spent the last year building out its digital banking arm, an effort that’s helped the bank gather more than $4 billion in deposits this year.“This agreement has the potential to expand the reach and breadth of our customer base while complementing our continued investments in digital,” Citigroup said in a statement. The partnership is a bit of a shift for Citigroup, which has been relying on marketing its digital bank accounts to existing customers in the firm’s sprawling cards business. The New York-based company said earlier this month it would offer special perks for checking accounts to customers of its co-brand credit card with American Airlines Group Inc.“This year we’ve increased the deposits we’ve raised digitally more than fourfold,” Anand Selva, who leads Citigroup’s consumer bank in the U.S., said at an investor conference this month. “As we continue to test and learn and enhance our digital capabilities and experiences, the digital deposit momentum has accelerated through the year.”For the finance industry, the worry is that tech giants could one day replicate the success of Alipay and WeChat Pay in China, where money flows through digital systems without the need for banks.To fight off the threat, banks are striking deals to keep a firm hold on their customers. Apple Inc. paired with Goldman Sachs Group Inc. this year to offer a credit card that extended $10 billion in credit lines as of Sept. 30. Uber Technologies Inc. announced last month that it would offer a bank account to drivers on its platform through a partnership with Green Dot Corp.(Updates with comments from Google, Citi starting in the third paragraph.)\--With assistance from Julie Verhage.To contact the reporter on this story: Jenny Surane in New York at jsurane4@bloomberg.netTo contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, Steve Dickson, James HertlingFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Boeing 737 Max won't be 'fully absorbed' into the fleet for 2 years: Air Lease Corp CEO
    Yahoo Finance

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  • Boeing Max Return Has More Layers Than an Onion
    Bloomberg

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    (Bloomberg Opinion) -- Boeing Co.’s 737 Max may be inching toward a return, but the crisis is far from over.The airplane maker said Monday that it continues to aim for Federal Aviation Administration certification of updates to the troubled Max in the current quarter, which could allow it to start delivering the jets  in December. It could take several more weeks to finalize pilot-training requirements, which would mean airlines wouldn’t technically be allowed to fly the planes until January at the earliest. And then airlines would need more time on top of that to bring planes out of storage and implement said training. Southwest Airlines Co. and American Airlines Group Inc. said last week that they weren’t planning to fly the Max as part of their fleets until early March, nearly a full year after the second of two fatal crashes prompted a worldwide grounding of the plane.This is a shift from Boeing’s forecast of a fourth-quarter return for the Max. While Boeing CEO Dennis Muilenburg had warned the Max’s return may be “phased” in across geographical jurisdictions amid greater scrutiny from the European Union, it now appears that the FAA’s approval process will have multiple steps as well. In hindsight, there was a subtle wording shift in Boeing's third-quarter earnings materials to "regulatory approval for the Max return to service" in the fourth quarter, versus its language in July, which mentioned an unqualified "return to service."Still, investors viewed the news of December deliveries as a positive, and it has a clear appeal for Boeing. The debate over pilot-training requirements has the potential to get contentious with families of the victims of the two Max crashes and Canada Transport Minister Marc Garneau among those who have advocated for much more rigorous (and expensive) simulator training. And Boeing doesn’t have a lot of time to wait. The Wall Street Journal reported over the weekend that it has two months’ worth of parking space left before it will have to explore other storage options for a glut of undeliverable Max jets. In the worst-case scenario, continuing delays to the Max’s return could force it to reduce or halt production.Why the FAA would be willing to throw Boeing a bone like this is less clear. I will note that in the company’s news release updating investors on the timeline for the Max, Boeing says it’s “possible” the FAA will allow it to start delivering jets in December. Still, this is the most detailed plan yet for the Max’s return to commercial flight and can be taken as a sign that Boeing feels confident there won’t be further snags as it enters the final stages of winning the FAA’s approval for its fixes. That will be a relief after reports last week that regulators found Boeing’s documentation for a proposed software fix lacking and requested that the paperwork be resubmitted.Getting the plane back in the sky may be Boeing’s most pressing task, but it certainly isn’t the end of this story. Even with the potential to deliver Max jets before pilot training is finalized, attempting to deliver 30 to 40 planes per month while holding on to the current 42-a-month production rate could be a “logistical nightmare” in terms of costs and human capital, SunTrust analyst Michael Ciarmoli wrote in a report this week before Boeing’s timeline update. Then there’s the matter of compensation for the airlines. With major executives signaling they aren’t happy with what Boeing has offered so far, the company’s estimate for $5.6 billion in customer concessions, net of insurance, is likely to rise. Airlines may also want to be compensated for the public-relations pushes they are planning to help convince the flying public that the Max is safe to fly. American CEO Doug Parker said last week that the cost of the damage to his airline from the Max grounding “should be borne by the Boeing shareholders because this was their failure, not ours.”All of this is before you get to the lasting consequences of the Max crisis, which could range from tougher regulatory reviews to a reconsideration of the rampant consolidation governments have allowed in the aerospace industry. Also on Monday, the EU stopped the clock on its review of Boeing’s purchase of a majority stake in Embraer SA’s commercial-jet program amid concerns that it will wipe out the only remaining viable competition to Boeing and Airbus SE’s duopoly. It’s hard to fathom similar concern in the U.S., where Boeing is regarded as a national champion and lawmakers are concerned about the risks posed by Commercial Aircraft Corp. of China Ltd., or Comac. Indeed, no lawmaker pressed CEO Muilenburg on antitrust during his two days of testimony before Congress last month. But there is room to push back on Boeing’s consolidation of its supply chain. It’s not healthy for one company to have so much power and the Max crisis should force the U.S. to reckon with that.  To contact the author of this story: Brooke Sutherland at bsutherland7@bloomberg.netTo contact the editor responsible for this story: Beth Williams at bewilliams@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brooke Sutherland is a Bloomberg Opinion columnist covering deals and industrial companies. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

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  • American Airlines CEO says expects 737 MAX approval in near future
    Reuters

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    American Airlines Group expects U.S. Federal Aviation Administration approval of Boeing Co's grounded 737 MAX jets in the near future, Chief Executive Doug Parker said on Wednesday. Like other U.S. 737 MAX airlines, American is scheduling without the aircraft until the FAA approves new software and training updates by Boeing after two fatal crashes. Boeing has said it is targeting FAA approval this year.

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    Market Realist

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    Yahoo Finance

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