American Airlines Lowers Profit Forecast Amid Analyst Skepticism Over Strategy Moves from alisha move mala Watch Video
Preview(s): Play Video: (Note: The default playback of the video is HD VERSION. If your browser is buffering the video slowly, please play the REGULAR MP4 VERSION or Open The Video below for better experience. Thank you!)
Your browser does not support playing the video.Please download the video!
⏲ Duration: 0:37 👁 View: 370K times ✓ Published: 30-May-2024
Description: American Airlines has cut its forecast for second-quarter profit, lowering expectations for earnings. The airline cited weaker pricing power, with total revenue per seat mile now expected to decline higher than anticipated. Chief Commercial Officer Vasu Raja will also leave American Airlines in June after leading the company's new business strategy. Analysts have questioned American's moves to prioritize smaller markets over corporate clients. The forecast cut comes despite projections for record levels of summer travel demand and flyer numbers from the TSA and industry group Airlines for America.