The Board of Directors at the American Airlines Group has authorized another round of share buy-backs with USD2 billion in stock to be reacquired by December 31, 2016.
The move adds to a similar USD2 billion initiative launched in January of this year and which has so far seen USD943 million worth of shares being bought back through the first half of the year.
AAG announced its highest quarterly earnings ever, posting a 2Q profit of USD1.7 billion.
Other US carriers to offer similar buybacks include United Airlines (UA, Chicago O'Hare) (USD3 billion), Delta Air Lines (DL, Atlanta Hartsfield Jackson) (USD5 billion) and Southwest Airlines (WN, Dallas Love Field) (USD1.5 billion).
