American Airlines' stock dropped Wednesday after the carrier cut its profit outlook, citing higher fuel prices and a retroactive pilot pay expense.
Shares of American Airlines Group Inc. dropped toward a four-month low Wednesday after the air carrier cut its third-quarter earnings outlook, citing higher fuel prices and costs associated with a new labor agreement.
American said the ratification of a new collective-bargaining agreement with its pilots, who are represented by the Allied Pilots Association union, resulted in a retroactive-pay expense of about $230 million. That expense, which will be recorded in the third quarter, lowered the adjusted EPS outlook by 23 cents.
American also revised higher its year-over-year growth outlook for available seat miles to 6% to 7%, up from 5% to 7%.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
American Airlines, Spirit Airlines cut summer profit forecast on higher costsSouthwest Airlines and Alaska Airlines trimmed their forecasts earlier this month.
Baca lebih lajut »
Best Buy just knocked $230 off the Surface Pro 7+ with Type CoverToday you can save $230 on the Microsoft Surface Pro 7+ with this deal at Best Buy, which brings its price down to just $700.
Baca lebih lajut »
American Airlines stock drops after profit outlook cut, citing higher fuel costs and a $230 million labor expenseShares of American Airlines Group Inc. dropped 3.0% toward a four-month low in premarket trading Wednesday, after the air carrier cut its third-quarter...
Baca lebih lajut »
Gold Price Forecast: XAU/USD lacks firm direction as traders await US CPI on WednesdayGold price attracts some dip-buying in the vicinity of the very important 200-day Simple Moving Average (SMA) support during the Asian session on Tues
Baca lebih lajut »
JetBlue stepping up campaign to save its plan to buy Spirit Airlines for $3.8 billionJetBlue Airways is making another move to try to save its proposed purchase of Spirit Airlines
Baca lebih lajut »