2023-04-04 07:55:16 ET
American Airlines Group ( NASDAQ: AAL ) confirmed on Tuesday it will join other major carriers in temporarily cutting some New York City area flights this summer after the Federal Aviation Administration reduced the minimum flight requirements at the request of major airlines.
The Dallas-based carrier said it is reducing the frequency of flights between LaGuardia Airport and Dallas, Miami, Kansas City and St. Louis, as well as the Newark Liberty International Airport-Chicago route.
Due to air traffic controller shortages, the FAA agreed in March to the requests of Delta Air Lines ( DAL ) and United Airlines ( UAL ) to temporarily return up to 10% of slots and flight timings at NYC's LaGuardia Airport and John F. Kennedy International Airport, Newark and Ronald Reagan Washington National Airport. The slots being given up will not be filled by other airlines.
The recent booking trends for American and other major carriers have been solid, with corporate travel strength offsetting some minor deceleration with leisure bookings.
U.S. airline stocks poked out small gains in premarket trading on Tuesday after falling on Monday with investors concerned about the potential impact of higher oil prices.
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American Airlines to cut some flights into New York City region