American Airlines (AAL) stock is down around 14% Wednesday after the air carrier cut its outlook for the second quarter and announced the departure of its chief commercial officer.
According to an 8-K filing with the Securities and Exchange Commission, American Airlines now expects total revenue per available seat mile to decline 5% to 6% in Q2, compared with its previous outlook for a drop of 1% to 3%. The company anticipates earnings per share (EPS) for the three-month period to be in the range of $1 to $1.15, compared with its prior forecast for EPS of $1.15 to $1.45.
