Grapevine

By Techxplore
Jul 18, 2024

American Airlines shares sink as it lowers demand outlook

Shares of American Airlines dove Wednesday after it lowered its profit outlook, citing weaker demand and a troubled booking system upgrade.

Shares of the big US carrier were down nearly 15 percent following American Airlines Chief Executive Robert Isom's appearance at a Wall Street conference where he sketched out the issues.

While long-haul international travel remains strong, Isom cited a "softer domestic revenue environment," saying the company's domestic travel outlook had "worsened materially" compared with its April forecast.