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American Airlines has announced that its earnings plunged 73 per cent in the third quarter amid the collapse in air travel during the coronavirus pandemic, causing a loss of $2.4 billion.
The company, which recently laid off 19,000 workers after Washington policymakers failed to renew funding to support airlines, said it reduced the rate at which it burns cash to $44 million a day in the July to September period, compared to $58m daily average in the second quarter.
