American Airlines’ $29 billion in debt and massive share buybacks are coming under increased scrutiny as the aviation industry looks for government aid to deal with tumbling sales from the coronavirus outbreak. U.S. airlines, including Fort Worth-based American, have asked Congress for $58 billion in direct aid and low- or no-interest loans to keep business afloat as travel demand deteriorates amid increasing restrictions on public life to deal with the spreading virus. But it comes after years of airlines stockpiling debt and spending billions to drive up stock prices through buybacks. American Airlines has spent about $12.4 billion on stock repurchases since 2014. Southwest has spent $10.7 billion buying back stock.
— source dallasnews.com | Mar 18, 2020