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MarketScreener Homepage  >  Equities  >  Nasdaq  >  American Airlines Group Inc.    AAL

AMERICAN AIRLINES GROUP INC.

(AAL)
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U.S. tentatively approves adding Aer Lingus to Oneworld alliance group

11/16/2020 | 04:00pm EST
An Aer Lingus Airbus A320 prepares to take off at the builder's headquarters in Colomiers near Toulouse

WASHINGTON (Reuters) - Irish airline Aer Lingus received tentative U.S. approval on Monday to join the Oneworld carrier alliance, the U.S. Transportation Department announced, a move that will give the joint venture control of more than half of the U.S.-Ireland flight market.

Airlines are expected to expand capacity on some existing routes while introducing service on several new routes, allowing more options for travel between the United States and Ireland as well as the rest of Europe, the department said.

The alliance includes American Airlines, British Airways, OpenSkies SAS, Iberia, and Finnair. The carriers requested the U.S. agency extend the joint venture's antitrust immunity to include Aer Lingus.

The approval will integrate Aer Lingus into Oneworld's network planning, pricing and sales. Aer Lingus did not immediately comment.

Aer Lingus controls 44% of the U.S.-Ireland flight market, a figure that will rise to 60% for the alliance.

In 2015, International Consolidated Airlines Group (IAG), the parent company British Airways, Iberia and OpenSkies, acquired Aer Lingus. The group petitioned in 2018 to allow Aer Lingus join the alliance.

Despite the alliance's majority market share, the U.S. regulator noted steps that it said would support competition.

As a condition of approval, the department proposed Oneworld maintain commitments to release landing and takeoff gate slots at London airports to competitors. Those were imposed when the alliance was first approved in 2010.

In addition, the U.S. Transportation Department noted the presence of a strong competitor outside the alliance. It said the second-largest carrier in the Irish-U.S. market, low-cost airline Norwegian, "has shown an aggressive ability to challenge established carriers in the transatlantic market with its low-fare pricing model."

The Transportation Department also argued that new aircraft models will allow airlines to fly transatlantic routes with fewer seats and lower costs.

The public can comment on the tentative decision for two weeks before it is finalized.

(Reporting by David Shepardson; Editing by Cynthia Osterman)

By David Shepardson


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AMERICAN AIRLINES GROUP INC. -4.14% 15.76 Delayed Quote.-0.06%
FINNAIR OYJ 0.00% 0.6795 Delayed Quote.-10.30%
INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A. -0.83% 160.9 Delayed Quote.0.69%
NORWEGIAN AIR SHUTTLE ASA 3.28% 64.24 Real-time Quote.-28.46%
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Financials (USD)
Sales 2020 17 188 M - -
Net income 2020 -9 408 M - -
Net Debt 2020 32 875 M - -
P/E ratio 2020 -0,81x
Yield 2020 0,57%
Capitalization 8 623 M 8 623 M -
EV / Sales 2020 2,41x
EV / Sales 2021 1,63x
Nbr of Employees 110 500
Free-Float 99,1%
Chart AMERICAN AIRLINES GROUP INC.
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American Airlines Group Inc. Technical Analysis Chart | AAL | US02376R1023 | MarketScreener
Technical analysis trends AMERICAN AIRLINES GROUP INC.
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus UNDERPERFORM
Number of Analysts 21
Average target price 11,89 $
Last Close Price 15,76 $
Spread / Highest target 71,3%
Spread / Average Target -24,6%
Spread / Lowest Target -93,7%
EPS Revisions
Managers and Directors
NameTitle
William Douglas Parker Chairman & Chief Executive Officer
Robert D. Isom President
David G. Seymour Senior Vice President-Operations
Derek J. Kerr Chief Financial & Accounting Officer, Executive VP
Maya Leibman Chief Information Officer & Executive VP