American Airline Shares Jump 25% After Adding U.S. Flights

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Investing.com — American Airlines Group (NASDAQ:AAL) shares soared 25% on Thursday after the carrier said it would add flights to its domestic U.S. schedule.

The company said it was increasing its domestic flying schedule for the summer travel season because of improving demand. Airlines have been struggling over the last few months because of a severe decline in travelers amid the Covid-19 pandemic.

Now, American is planning to fly more than 55% of its July 2019 domestic capacity and plans to fly nearly 20% of its July 2019 international schedule. By comparison, American flew just 20% of its domestic schedule in May and is flying 25% in June.

Vasu Raja, American Airlines’ senior vice president of network strategy, told Reuters, “As an airline, we’ve consciously bet on demand coming back. We have bet the economy.”

The airline is boosting flights from New York City airports, Los Angeles and Washington and adding flights from its Dallas Fort Worth and Charlotte hubs according to Reuters. It is also boosting flights to major cities in Florida, Gulf Coast cities and mountain destinations as national parks and outdoor recreational spaces reopen.