...July 30, 2021 - American Airlines Group Inc. is benefiting from a surge in domestic and nearby Latin American leisure travel, though business and intercontinental traffic is slower to recover. - American reported an adjusted pretax loss of $1.5 billion (not including cash grants under the Payroll Support Program [PSP]) in the second quarter of 2021, and forecasts a negative pretax margin of 3%-7% in the third quarter (without any PSP grants), results that are not as strong as some U.S. airline peers but still much improved from 2020 and the first quarter of 2021. - Liquidity is much improved following refinancings and $4.7 billion of PSP cash grants, with a record $21.3 billion of cash, short-term investments, and available credit lines at June 30, 2021. - We affirmed our 'B-' issuer credit rating on American Airlines Group and subsidiary American Airlines Inc. and revised the rating outlook to stable from negative. - Following prepayment of a term loan secured by aircraft spare parts,...
