American Airlines shares fall on dour Q4 expectations, weigh on sector

American Airlines shares fell as much as 11% Thursday after the biggest US carrier cut its estimate for a closely watched measure of performance, raising concerns that slowing global economic growth is hurting business travel. The losses in American’s shares also weighed on the broader airlines sector as slowdown fears were exacerbated by lower fuel prices, which typically lead to competitive discounting. Shares of Delta fell as much as 5.5%, United Continental Holdings 7.6% and Southwest 4.4% by midday. “Legacies in particular have a clear risk ahead on unit revenues, and that includes American Airlines with everything from corporate, international to shutdown exposure,” Morgan Stanley analyst Rajeev Lalwani said. “It’s happening a little earlier than anticipated per the American and Delta unit revenue guide downs in the fourth quarter, which is concerning.”<br/>