American Airlines cuts outlook on 737 MAX, sees jets flying again by mid-$ August
American Airlines cut its 2019 profit forecast on Friday, blaming an estimated $350m hit from the grounding of Boeing’s 737 MAX planes during its busiest travel season, but said it was confident the aircraft would start flying by mid-August. American said earlier in April that it was extending the grounding of its twenty-four 737 MAX jetliners until Aug. 19, leading to about 115 daily cancellations during the peak summer travel season. While the cancellations only represent about 2% of American’s daily summer flight capacity, the financial impact is disproportionate as revenue during lost while the vast majority of costs remain in place. The airline said its employees were working overtime to accommodate some 700,000 summer travelers and thousands of crew affected by 15,000 MAX cancellations through Aug. 19.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-04-29/oneworld/american-airlines-cuts-outlook-on-737-max-sees-jets-flying-again-by-mid-august
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American Airlines cuts outlook on 737 MAX, sees jets flying again by mid-$ August
American Airlines cut its 2019 profit forecast on Friday, blaming an estimated $350m hit from the grounding of Boeing’s 737 MAX planes during its busiest travel season, but said it was confident the aircraft would start flying by mid-August. American said earlier in April that it was extending the grounding of its twenty-four 737 MAX jetliners until Aug. 19, leading to about 115 daily cancellations during the peak summer travel season. While the cancellations only represent about 2% of American’s daily summer flight capacity, the financial impact is disproportionate as revenue during lost while the vast majority of costs remain in place. The airline said its employees were working overtime to accommodate some 700,000 summer travelers and thousands of crew affected by 15,000 MAX cancellations through Aug. 19.<br/>
