American Airlines Group Inc (NASDAQ:AAL) and Cuba Travel Services plan to operate the first charter flights between Los Angeles International Airport (LAX) and Jose Marti International Airport (HAV) in Havana later this year, providing travelers the only nonstop service connecting the West Coast to Cuba since travel restrictions were eased.
“American is the premier carrier in Los Angeles and throughout the Caribbean, and this new charter flight shows how we continue to expand our reach by offering new routes and services our customers want,” said Art Torno, American’s senior vice president – International and Cargo. “We stand ready to offer scheduled service as soon as the United States and Cuba allow commercial flights.”
“We are excited to expand our partnership with American to include flights from Los Angeles to Havana,” saidMichael Zuccato, General Manager at Cuba Travel Services. “We will continue to deliver a high quality travel experience and opening up new West Coast access to Cuba will bring a convenient, affordable option to authorized travelers.”
American’s new charter service between Los Angeles and Havana will be sold by Cuba Travel Services and will operate on Saturdays beginning Dec.12 with Boeing 737 aircraft. In addition, American will operate a Saturday flight between Miami International Airport and Havana, also sold by Cuba Travel Services.
American has operated charter flights to Cuba since 1991. With these additions, American will offer 22 weekly flights from Miami, Tampa and Los Angeles to five destinations in the country: Camaguey, Cienfuegos, Havana, Holguin and Santa Clara. This year, American will operate approximately 1,200 charter flights to Cuba, more than any other airline. American also is the leading carrier to the Caribbean with up to 150 daily flights to more than 30 destinations.
With the addition of Havana, American will have launched nine international flights from its LAX hub this year. Additions include a second daily flight to London’s Heathrow Airport; Vancouver, Canada; Belize City, Belize;Guadalajara, Mexico City and Mazatlan, Mexico; Sydney (pending regulatory approvals) and Tokyo-Haneda (pending Japanese government approval).
With nearly 200 flights per day to 55 global destinations, American is the preferred airline of the entertainment industry at LAX. American operates the only three-class transcontinental service to New York with its award-winning Airbus A321T and the most daily, year-round nonstop flights to London, all with fully lie-flat, direct aisle access seats in First and Business Class. (Original Source)
Shares of American Airlines Group Inc closed yesterday at $43.95. AAL has a 1-year high of $56.20 and a 1-year low of $28.10. The stock’s 50-day moving average is $41.12 and its 200-day moving average is $45.76.
On the ratings front, American Airlines has been the subject of a number of recent research reports. In a report issued on July 30, J.P. Morgan analyst Jamie Baker maintained a Buy rating on AAL, with a price target of $72, which represents a potential upside of 63.8% from where the stock is currently trading. Separately, on July 27, Barclays’ Isaac Husseini reiterated a Buy rating on the stock and has a price target of $55.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jamie Baker and Isaac Husseini have a total average return of -0.9% and -0.2% respectively. Baker has a success rate of 60.6% and is ranked #2880 out of 3738 analysts, while Husseini has a success rate of 50.0% and is ranked #2667.
The street is mostly Neutral on AAL stock. Out of 4 analysts who cover the stock, 3 suggest a Hold rating and one recommends to Buy the stock. The 12-month average price target assigned to the stock is $70.00, which represents a potential upside of 59.3% from where the stock is currently trading.
American Airlines Group Inc, through its subsidiaries, operates in the airline industry. The Company has hubs in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York City, Philadelphia, Phoenix and Washington, D.C.