American Airlines Slapped With $4.1M Fine For Tarmac Delays
Portfolio Pulse from Shivani Kumaresan
The U.S. Department of Transportation (DOT) has fined American Airlines Group Inc (NASDAQ:AAL) $4.1 million for violating federal statutes and the department’s rule prohibiting tarmac delays of three hours or more without providing passengers an opportunity to deplane. The fine is the largest ever issued for tarmac delay violations. Despite the news, AAL shares are trading higher by 0.51% at $14.66.
August 28, 2023 | 5:59 pm
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American Airlines has been fined $4.1 million by the DOT for tarmac delay violations. Despite this, AAL shares are trading higher.
The fine is a significant financial penalty for American Airlines, but it does not appear to have negatively impacted the company's stock price in the short term. This could be due to investors' perception that the fine is a one-time cost that will not affect the company's long-term profitability.
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RELEVANCE 100