• 6 months ago
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.
Transcript
00:00 It's Benzinga and here's what's on the block.
00:02 American Airlines has cut its forecast for second quarter profit, lowering expectations for
00:07 earnings. The airline cited weaker pricing power with total revenue per seat mile now expected to
00:12 decline faster than anticipated. Chief Commercial Officer Bazu Rajah will also leave American
00:17 Airlines in June after leading the company's new business strategy. Analysts have questioned
00:22 American's move to prioritize smaller markets over corporate clients. The forecast cut comes
00:27 despite projections for record levels of summer travel demand and flyer numbers from the TSA
00:32 and industry group Airlines for America. For all things money visit Benzinga.com

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