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American Airlines' (AAL) Jul 4 Weekend Travel Sees Spike

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Per a CNBC report, American Airlines Group (AAL - Free Report) flew 2.7 million passengers over the Jul 4 weekend, three times more than the 2020 level. This highlights the steady recovery in air-travel demand after the coronavirus-led downturn in 2020.

The report stated that in a note to staff, David Seymour, American Airlines’ chief operating officer, said that the carrier operated over 26,000 mainline and regional flights over the Jul 4 weekend, more than double the capacity a year ago. American Airlines carries a Zacks Rank #3 (Hold).

The Transportation Security Administration screened nearly 12 million people in the Jul 1-Jul 6 period. While this is more than double the number of passengers screened in the same period in 2020, it is still 18.3% below the pre-pandemic level.

Anticipating a surge in air-travel demand during the Independence Day travel week, Southwest Airlines (LUV - Free Report) , carrying a Zacks Rank #3, offered higher overtime pay to its employees to take up extra shifts so that flight disruptions could be avoided.

To capitalize on the recovery in air-travel demand, airlines are expanding their networks. American Airlines has announced plans to expand its footprint in Miami, FL with two international destinations and six domestic routes set to launch this winter. Last month, Allegiant Travel Company (ALGT - Free Report) , carrying a Zacks Rank #5 (Strong Sell), announced new nonstop flights from Melbourne Orlando International Airport (MLB) to Pittsburgh, PA; Nashville, TN and Concord, NC, set to launch in November. Spirit Airlines (SAVE - Free Report) , which started operating non-stop flights to Milwaukee Mitchell International Airport from Las Vegas, Los Angeles and Orlando, FL in June, plans to expand the service to connect other destinations later this year. Spirit Airlines carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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