Investing.com - Airline shares fell in midday trading Thursday as a profit warning from American Airlines Group (NASDAQ:AAL) hit the sector.
The largest U.S. airline cut its 2018 revenue per available seat mile forecast, causing the stock to tumble 8.4%. The outlook cut comes a week after Delta decreased its forecast for the end of the year.
American said it revenue per available seat mile likely rose 1.5% in the fourth quarter of last year from the year-earlier period, compared with prior guidance of a range of 1.5% to 3.5%.
American said profit for the year, excluding items, would be $4.40 to $4.60 per share, down from previous guidance of $4.50 to $5 per share.
The SPDR S&P Transportation ETF (NYSE:XTN) was down 1.17%.
Add a Comment
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.