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American Keeps Flying Higher Amid Post-Pandemic Rebound

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Shares of American Airlines (AAL) - Get Report continue to gain post-pandemic altitude, thanks to investor optimism that the worst is over for it and other carriers.

The stock gained an additional 5% on Monday after American said it would increase July flights as travel restrictions imposed by the coronavirus pandemic begin to ease. 

The airline said it plans to fly 55% of its domestic schedule and 20% of international flights in July. In May, American flew just 20% of its domestic schedule and is flying 25% in June.

At the same time, reports on Monday indicated American is taking steps to cut costs by offering upper-level employees severance packages when terms of federal aid expire in the fall.

The severance packages for upper management include around nine months of pay and a little more than two years of healthcare coverage for at least some of the employees at the director level and above, according to reports.

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