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American Airlines sees 90% slump in second-quarter revenue
The U.S. airlines have said that a modest recovery in demand was helping slow their daily cash burn rates in June, after the COVID-19 pandemic led to hundreds of flight cancellations. American Airlines expects its daily cash burn rate to slow to about $40 million in June, and said it plans to fly 55% of its domestic schedule and nearly 20% of its international schedule in July. “The company has recently experienced improving demand conditions and has passed the peak in cash refund activity,” American Airlines said in a statement.
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