American Airlines cash flow turns positive in March

American Airlines said Tuesday it turned cash flow positive in March on an adjusted basis, helped by a recovery in demand for domestic travel. Excluding daily payment of $8m towards regular debt and severance packages, it was cash flow positive, the company said in a regulatory filing, adding it burned about $4m of cash per day in March compared with $30m in the previous quarter. The US airline expects its average daily cash burn rate for the first three months to be about $27m per day compared to its previous forecast of $30m, and end the quarter with about $17.3b in total available liquidity. The Texas-based company expects revenue to plunge about 62% compared with the same period in 2019, and to post a loss of about $2.7b to $2.8b, excluding financial assistance under the US payroll support program for airlines. American had previously forecast a revenue decline of between 60% and 65%.<br/>