American Airlines Group Inc (NASDAQ:AAL) yesterday announced at the Annual Medal of Honor Foundation Event Luncheon that it has expanded its fuel conservation program, Fuel Smart. The program is employee driven and contributes a portion of savings generated to Air Compassion for Veterans (ACV), totaling more than $3.5 million since the partnership began in 2010.
ACV is a non-profit program that provides free air transportation to injured veterans, active duty military and family members traveling for medical, rehabilitative care and veteran's programs.
The Fuel Smart announcement was made during a special luncheon at Reagan National Airport honoring our nation's recipients of the Medal of Honor in conjunction with National Medal of Honor Day activities. Approximately 30 recipients and their guests arrived on a charter flight courtesy of American Airlines from JFK Airport. American Airlines has been a supporter of the Medal of Honor Foundation and Society for the past five years. Medal of Honor recipients receive complimentary Executive Platinum and Admirals Club benefits.
"With more than 6,000 employees active and retired U.S. Military and National Guard, we are honored to partner with Air Compassion for Veterans to provide transportation for these wounded warriors and their family members. Saving fuel through our Fuel Smart program is not only good for the environment but it also benefits an extremely worthy cause," said Tim Campbell, American's senior vice president – Air Operations.
"American's pilots are proud to be a part of the team supporting our active military, veterans and their families," said Captain Anthony Chapman, Allied Pilots Association, Veterans Affairs.
"American's Ground and Tech Ops crews are honored to support Air Compassion for Veterans through the Fuel Smart program," said Peter Meyer, chairman of the TWU Veteran's Committee and an Aircraft Maintenance Technician for American Airlines. "Fleet service clerks help save fuel by connecting electrical ground power and pre-conditioned air to the aircraft as soon as it comes to the gate, so that the aircraft does not rely on the fuel-consuming APU while passengers are boarding. Our Tech Ops teams can also work to reduce APU usage by using ground power and air instead of the APU while performing aircraft maintenance. This can lead to incredible contributions for Air Compassion for Veterans."
"APFA is pleased to learn that donations from American's revived fuel conservation program will assist the men and women in uniform, said Laura Glading, APFA National President. "It's always an honor to welcome our military and their families aboard."
American's Fuel Smart advocates were able to present ACV with an initial donation of $100,000 at yesterday's event.
Since the partnership launched in 2010, employees at American participating in the Fuel Smart program have generated more than $3.5 million dollars in donations for ACV. ACV has provided more than 6,200 U.S. military and family members air transportation on American for rehabilitative services. Under the new Fuel Smart Program, employees will focus on generating fuel savings by reducing Auxiliary Power Unit (APU) usage. Reducing APU usage by 5% on average is estimated to result in an annual $387,000 contribution to ACV.
American's initial partnership with ACV began in 2010, when the American Airlines Veterans Initiatives employee group helped ACV arrange travel for wounded warriors and their family members. Yesterday's announcement marks an expansion of that partnership, with American committing to donate a portion of fuel savings from combined American Airlines and US Airways fuel conservation programs beginning April 1, 2015.
American Airlines has long-standing ties to the nation's armed forces. With more than 6,000 employees who are active military or veterans, the airline places a strong emphasis on its military and veterans initiatives. American supports members of the military, veterans and their families via in-kind contributions to nonprofit organizations and through employee engagement in a diverse range of events and activities throughout the year. This includes a wide variety of military charities such as the USO, Air Compassion for Veterans, Hero Miles, Snowball Express and charter flights for Salute to the Troops and Seats for Soldiers. Through these and more charitable efforts, American continues to help make a difference in the lives of those serving our country.
For more information about the Medal of Honor Foundation, visit CMOHFoundation.org. To learn more about the military charities that American supports, visit American Airlines Giving. (Original Source)
Shares of American Airlines Group Inc opened today at $53.62 and are currently trading down at $53.455. 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 $49.71 and it's 200-day moving average is $45.29.
On the ratings front, American Airlines (NASDAQ:AAL) has been the subject of a number of recent research reports. In a report issued on February 24, Cowen analyst Helane Becker downgraded AAL to Hold, with a price target of $55, which represents a slight upside potential from current levels. Separately, on February 18, Merrill Lynch's Andrew Didora assigned a Buy rating to the stock and has a price target of $64.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Helane Becker and Andrew Didora have a total average return of 35.8% and -0.9% respectively. Becker has a success rate of 81.7% and is ranked #15 out of 3546 analysts while Didora has a success rate of 66.7% and is ranked #2708
In total, 2 research analysts have assigned a Hold rating and 6 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $53.62 which is 26.5% above where the stock opened today.
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.