American Airlines will reduce domestic and international flights and Southwest's CEO plans to take a pay cut in response to the coronavirus epidemic
*American to Reduce International Flying by 10% for Summer Peak.
*American to Reduce International Flying by 10% for Summer PeakUnited States Latest News, United States Headlines
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American Airlines announces capacity cuts for summer peak seasonAmerican Airlines Group Inc. said Tuesday it is reducing international and domestic capacity through the summer peak season as it continues to struggle with the fallout from the coronavirus that causes COVID-19. The airline is cutting international capacity by 10%, including a 55% reduction in trans-Pacific capacity. In the U.S., the airline is cutting capacity by 7.5% in April. The company is suspending service to mainland China from LAX and Dallas-Fort Worth through the summer. It is suspending service to Hong Kong from Dallas-Fort Worth through June and will resume with a limited service in July. It is extending the suspension of service to Seoul, South Korea from Dallas-Forth Worth into early May, and will operate flights to Tokyo's Narita International Airport and Haneda International Airport from LAX and Dallas-Forth Worth with smaller aircraft starting in May. In Europe, the airline is suspending service to Rome from Philadelphia effective immediately through end April; it is extending the suspension of service to Milan, delaying the seasonal resumption of flights to Barcelona from Charlotte and to Venice from Chicago to early June; it is delaying the seasonal resumption of flights to Rome from New York and Dallas-Fort Worth through the end of April and suspending operation of its second daily flight from Dallas-Forth Worth to Rome. The company is reducing service to Paris and Madrid for parts of May and June. Shares rose 7.9% in premarket trade, but are down 54% in the last 12 months, while the S&P 500 has gained 0.1%.
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