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Headline : American Airlines cuts annual profit forecast on pricing pressures

Read more from the original article on here at finance.yahoo.com.





Tags : #american #airlines #cuts #annual #profit #forecast #pricing #pressures


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(Reuters) - American Airlines on Thursday cut its annual profit forecast, citing its previous sales and distribution strategy that drove away corporate travelers and hit its revenue.

The Texas-based airline also highlighted an excess capacity in the domestic market that has undermined the industry's pricing power.

Its shares were down 5.4% at $9.63 in pre-market trade.

Read more from the original article on here at finance.yahoo.com.


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