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American (AAL) Plans Boeing 737 MAX Service-Return in December
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American Airlines Group Inc (AAL - Free Report) is planning to resume services on the grounded Boeing 737 MAX aircraft at the end of this year. In a statement obtained by The Street, the airline said it expects to begin passenger flights on the MAX jets just a few days after Christmas, contingent upon Boeing getting all necessary federal approvals.
Notably, the Boeing 737 MAX aircraft have been grounded since March 2019 following two crashes which killed 346 passengers. Ever since then, this aircraft has been under scrutiny and underwent software and other changes. Earlier this month, the Federal Aviation Administration (“FAA”) issued a draft report on revised training procedures for the MAX aircraft, which is available to the public for commenting through Nov 2, 2020.
The FAA, which had expected the grounding order to be lifted around mid-November, said in a statement on Sunday that it still does not have a specific timeline for approving the plane’s return to service and “will lift the grounding order only after FAA safety experts are satisfied that the aircraft meets certification standards.”
As for American Airlines’ plans to resume services on the Boeing 737 MAX aircraft, the airline stated that it will begin the same in phases from Dec 29, operating a daily 737 MAX flight between Miami, FL and New York through Jan 4, 2021. Customers can start booking flights on the aircraft Oct 24 onward and they would be informed about their bookings on the 737 MAX jets.
In a statement, the carrier said, “We remain in contact with the FAA and Boeing on the certification process and we’ll continue to update our plans based on when the aircraft is certified."
Zacks Rank & Key Picks
American Airlines carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Transportation sector are Expeditors International of Washington Inc (EXPD - Free Report) , Old Dominion Freight Line Inc (ODFL - Free Report) and Knight-Swift Transportation Holdings Inc (KNX - Free Report) . While Expeditors carries a Zacks Rank #2 (Buy), Old Dominion and Knight-Swift sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Expeditors, Old Dominion and Knight-Swift have rallied more than 19%, 58% and 13% respectively so far this year.
Zacks’ Single Best Pick to Double
From thousands of stocks, 5 Zacks experts each picked their favorite to gain +100% or more in months to come. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
With users in 180 countries and soaring revenues, it’s set to thrive on remote working long after the pandemic ends. No wonder it recently offered a stunning $600 million stock buy-back plan.
The sky’s the limit for this emerging tech giant. And the earlier you get in, the greater your potential gain.
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American (AAL) Plans Boeing 737 MAX Service-Return in December
American Airlines Group Inc (AAL - Free Report) is planning to resume services on the grounded Boeing 737 MAX aircraft at the end of this year. In a statement obtained by The Street, the airline said it expects to begin passenger flights on the MAX jets just a few days after Christmas, contingent upon Boeing getting all necessary federal approvals.
Notably, the Boeing 737 MAX aircraft have been grounded since March 2019 following two crashes which killed 346 passengers. Ever since then, this aircraft has been under scrutiny and underwent software and other changes. Earlier this month, the Federal Aviation Administration (“FAA”) issued a draft report on revised training procedures for the MAX aircraft, which is available to the public for commenting through Nov 2, 2020.
The FAA, which had expected the grounding order to be lifted around mid-November, said in a statement on Sunday that it still does not have a specific timeline for approving the plane’s return to service and “will lift the grounding order only after FAA safety experts are satisfied that the aircraft meets certification standards.”
American Airlines Group Inc. Price
American Airlines Group Inc. price | American Airlines Group Inc. Quote
As for American Airlines’ plans to resume services on the Boeing 737 MAX aircraft, the airline stated that it will begin the same in phases from Dec 29, operating a daily 737 MAX flight between Miami, FL and New York through Jan 4, 2021. Customers can start booking flights on the aircraft Oct 24 onward and they would be informed about their bookings on the 737 MAX jets.
In a statement, the carrier said, “We remain in contact with the FAA and Boeing on the certification process and we’ll continue to update our plans based on when the aircraft is certified."
Zacks Rank & Key Picks
American Airlines carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Transportation sector are Expeditors International of Washington Inc (EXPD - Free Report) , Old Dominion Freight Line Inc (ODFL - Free Report) and Knight-Swift Transportation Holdings Inc (KNX - Free Report) . While Expeditors carries a Zacks Rank #2 (Buy), Old Dominion and Knight-Swift sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Expeditors, Old Dominion and Knight-Swift have rallied more than 19%, 58% and 13% respectively so far this year.
Zacks’ Single Best Pick to Double
From thousands of stocks, 5 Zacks experts each picked their favorite to gain +100% or more in months to come. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
With users in 180 countries and soaring revenues, it’s set to thrive on remote working long after the pandemic ends. No wonder it recently offered a stunning $600 million stock buy-back plan.
The sky’s the limit for this emerging tech giant. And the earlier you get in, the greater your potential gain.
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