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American, Delta: Demand Uptick Helping Cash Burn
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11 Jun 2020 07:01 AM EST

WASHINGTON/CHICAGO (Reuters) - American Airlines Group Inc (AAL.O) and Delta Air Lines Inc (DAL.N) said on Wednesday that a modest recovery in demand was helping to slow daily cash burn rates in June after the U.S. government reported record low passenger numbers in April amid the coronavirus pandemic. U.S. airlines carried 3 million passengers in April, a staggering 96% decline from April 2019, the Transportation Department said on Wednesday. U.S. airlines have grounded nearly half of all airplanes, canceled hundreds of thousands of flights and the industry is still burning through billions a dollars a month.