5 Airline Stocks Billionaires Are Piling Into

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1. American Airlines Group Inc. (NASDAQ:AAL)

Number of Billionaire Holders: 13

Fort Worth, Texas-based American Airlines Group Inc. (NASDAQ:AAL) is a holding company operating a major network air carrier, providing scheduled air transportation for passengers and cargo through its hubs. As of December 31, 2022, it operated 925 mainline aircraft supported by its regional airline subsidiaries and third-party regional carriers, which together operated an additional 536 regional aircraft.

On October 19, American Airlines Group Inc. (NASDAQ:AAL) released its financial results for Q3 2023. It generated operating revenues of $13.5 billion and a net loss of $545 million. Its normalized EPS of $0.38 surpassed consensus estimates by $0.13.

American Airlines Group Inc. (NASDAQ:AAL) has been on a mission to strengthen its balance sheet. As part of this plan, the company has reduced its debt level by nearly $10.9 billion from the peak levels in mid-2021. This includes debt reduction of $1.4 billion in Q3 2023.

As of Q3 2023, American Airlines Group Inc. (NASDAQ:AAL) was the most sought-after stock among billionaires on our list of 10 airline stocks billionaires are piling into, as 13 of the billionaires tracked by Insider Monkey held its shares, valued at $609 million. Jim Simons’ Renaissance Technologies was its largest shareholder with ownership of 22.4 million shares valued at $287 million.

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