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AMR Unveils Intercontinental Flight
American Airlines Inc., a subsidiary of
AMR Corporation , plans to start daily non-stop flights between Miami International Airport and Malpensa Airport in Milan. The newly introduced flights are intended to improve connectivity between the continents of North America and Europe.
American Airlines will extend the service via The Boeing Company’s ( BA - Analyst Report) 218 seater 767-300 aircraft. Travel booking opens on Jun 2, with the service slated to start Nov 21.
This service is part of the joint business agreement between American Airlines, British Airways and Spanish carrier Iberia. The pact is aimed at expanding the global network through transatlantic flights at affordable rates.
The newly introduced itinerary would provide customers taking off from Milan easy accessibility to over 100 spots across the United States, Caribbean and Latin America with the help of the widespread network from Miami. Similarly, passengers from America will also have easy access to more than 125 locations in Europe.
Since the last few months, Fort Worth-based American Airlines – which operates with the likes of United Continental Holdings Inc. ( UAL - Analyst Report) – is on an expansion spree. This is evident from its several domestic and international launches.
Earlier in May, the company introduced a daily nonstop service between Dallas’ Fort Worth International Airport and Incheon International Airport in Seoul, South Korea, fortifying its presence in the Asia-Pacific belt. Last month, American Airlines announced flights bridging Dusseldorf, Germany and Chicago‘s O'Hare International Airport.
Shares of AMR Corporation have jumped by a whopping 1,400% in recent months, since hitting its 52-week low of 36 cents in Nov, 2012. This airline industry operator became a Zacks #1 Rank (Strong Buy) stock on Apr 23 and hit a new 52-week high of $7.15 on May 17.
The performance of this stock is really impressive considering the fact that AMR Corporation filed for bankruptcy in Nov 2011 because of unmanageable labor issues that increased its expenses. However, American Airlines is on the verge of being merged with US Airways Group Inc. .