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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.
Many airlines are now adding back flights in July as demand modestly rebounds.
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.
However, as the duration and severity of the COVID-19 pandemic remain uncertain, the company said it expects its fiscal 2020 results to be materially impacted. (https://
