American Airlines

Ticker AAL

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As of 16:20 25 Jun 2019
Market cap. US dollars
14,586.63 million
As of 16:20 25 Jun 2019

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American Airlines cuts earnings forecast

American Airlines
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American Airlines has cut its full-year profit forecast for 2019, blaming an estimated $350m hit due to the grounding of its Boeing 737 Max aeroplanes.

However, American Airlines said it was confident the aircraft would start flying again in August.

It also said its fuel expenses for the year would now be $650m more than previously expected, due to rising oil prices.


Today Programme

BBC Radio 4


American Airlines and Southwest Airlines announced this weekend that they would scrap flights because of the grounding of 737 Max planes.

American Airlines said 115 flights a day would be affected in the coming months by the grounding of the Boeing jets.

Southwest Airlines has cancelled its Max flights to 5 August.

Chris Tarry, aviation expert, told BBC Radio 4's Today programme that it is going to take a considerable period of time for the planes to get back in the air.

They were grounded after the worldwide following fatal crashes involving Ethiopian Airlines and Indonesia's Lion Air.

The story on the American Airlines groundings is here.

American Airlines profits rise

American Airlines plane
Getty Images

American Airlines Group said that higher fares helped the company lift profits during the fourth quarter to $481m from $444m a year ago.

Sales rose to $10.9bn from $10.6bn.

For the full-year, profit fell to $2.1bn from $2.5bn but revenue grew to $44.5bn from $42.6bn.