American Airlines Group Inc. (NASDAQ: AAL), like many other airlines, has been hit hard by the decline in air-travel demand due to the coronavirus pandemic. Shares of American Airlines shed 4.26% after it planned to seek more money from the Treasury Department to improve its weak finances.

The company is planning to take help from the Treasury department as it bears a shock because of the coronavirus pandemic. It has a major debt burden as it disclosed $40 billion of the debt in the second quarter, up $7 billion compared to the 2019 debt of $33 billion.

American Airlines has held a conference where the number of airline executives gave presentations. American Airlines CFO Derek Kerr said at the conference on Wednesday that the company is planning to turn toward the Treasury department to lessen its debt burden. CARES act has allowed airlines to borrow money from the treasury department as the airline industry has been hit hard by the coronavirus pandemic. But not all the airlines have taken the $25 billion government bailout most notably Southwest has already disclosed that it is not taking the loan.

Another decision of Americans that not only impact American Airlines (AAL) but also Boeing is that the AAL said that it may postpone the delivery of 18 Boeing 737 MAX jets. The MAX fleet has already stopped services since March 2019 because of safety issues. The decision to postpone the delivery of the jet also delayed the American’s payment for them.

Shares of American Airlines (NASDAQ: AAL) had tumbled down 4.26% as it lost -0.58 at $13.05 on Wednesday. In the past 52-weeks of trading, American’s stock has fluctuated between the low range of $8.25 and a high range of $31.67. American Airlines has moved up 58.18% from its 52-weeks low and moved down -58.79% from its 52-weeks high. Looking at its profitability, it has a return on assets of -5.70%, returns on equity of 240.80%, and return on investment of 10.30%. It has a market capitalization of $6.51 billion at the time of writing.

American Airlines has earlier named two new officers in its operation and people teams. Jessica Tyler was appointed as the president of American Airlines Cargo and vice president of Airport Excellence in June. Furthermore, Thomas Rajan was appointed as the vice president of Compensation and Benefits in August. It has also announced that it would furlough 17,500 union workers in October.

Decreasing demand because of the coronavirus pandemic not only affected the business of American Airlines but many other airlines have experienced the shock. United Airlines has also disclosed that decreasing demand for air travel impacted its flight capacity in the third quarter. It has recorded the 70% drop in its scheduled flight capacity, compared to the forecasted decrease of 65%. It also expects that its passenger revenue to be down 85% this quarter.