American Airlines passenger jets are lined up at the gates at Ronald Reagan Washington National Airport in Arlington, Virginia, on Feb. 10, 2024.
J. David Ake | Getty Images
American Airlines slashed its sales outlook on Tuesday. The company has also let go of its chief commercial officer, Vasu Raja. He will leave his position next month.
American Airlines said it expects unit revenues to fall as much as 6% in the second quarter from a year earlier, down from a previous forecast of a decline of no more than 3%. The carrier also trimmed its adjusted earnings estimate for the period to a projected range of $1 to $1.15 a share, down from a prior range of $1.15 to $1.45 a share.
The airline has trailed rivals Delta and United Airlines in recent months in financial performance. United Airlines later on Tuesday reiterated its expectation to earn an adjusted $3.75 to $4.25 per share in the second quarter.
Executives from both carriers will present at a Bernstein conference Wednesday morning….
2024-05-28 16:57:48
Original from www.cnbc.com
