For the first time since 2019, American Airlines (AAL) will fly to Venezuela from the United States.
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American Airlines says it is resuming flights to Venezuela weeks after the U.S. captured Venezuela’s president Nicolás Maduro and took control of the country’s oil reserves. American Airlines is the first U.S. carrier to restart service to Venezuela, which had become isolated after airlines around the world halted service to the troubled country over the past decade.
“American will share additional details about its return to service in the coming months as it works closely with federal authorities on all necessary permissions and security assessments prior to resuming service,” said American Airlines in a news release.
American halted service to Venezuela in March 2019 after its pilots’ union told its members to refuse trips to the country following the State Department advising U.S. citizens to leave the country and pulling its diplomats from Venezuela because of unrest.
Delta Air Lines
and United Airlines
, which had paused service in 2017, didn’t immediately comment.
Federal officials temporarily closed airspace in the Caribbean earlier this month following the U.S. strikes in Venezuela, a measure that disrupted air travel and forced carriers to cancel hundreds of flights at the tail end of the holidays.
Is AAL Stock a Buy?
The stock of American Airlines has a consensus Moderate Buy rating among 12 Wall Street analysts. That rating is based on five Buy, six Hold, and one Sell recommendations issued in the last three months. The average AAL price target of $16.70 implies 3.88% upside from current levels.
