American Airlines Group Inc

AAL: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$87.00	Pjgs	Psvvcjfy

American Airlines: Debt and Cost Growth Limit Resurgent Opportunity; Cutting Fair Value Estimate

Nicolas Owens

Jun 6, 2023

We have taken a fresh look at the North American airlines and instituted an industry-based demand model for air travel, capacity, and revenue. As a result, we have lowered our fair value estimate for no-moat American Airlines to $12.20 per share from $21.

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