American Airlines shares jump as carrier eyes zero cash burn by year’s end

American Airlines shares jumped more than 16% on Friday after the carrier said an uptick in travel demand is helping trim its daily cash burn to $40m from a previous forecast of $50m. The carrier said that it aims to wipe out its cash burn by the end of the year. American reiterated a forecast that it still sees revenue in Q2 down 90% from a year ago, when it posted sales of close to $12b. The airline last week said it plans to add more flights, particularly for the domestic market as some demand returned. Through June 8, American has been flying an average of 129,000 passengers a day and its flights are 62% full, though capacity is down 70% from a year ago. In May, the carrier said it flew 85,000 travellers a day with a load factor of 47% and capacity off 75% from May 2019.<br/>