American Airlines Stock Dives on Guidance Cut, CCO Exit

American Airlines lowered its Q2 outlook and announced that Vasu Raja, its chief commercial officer, is leaving the company. Here's what you need to know.

An American Airlines plane seen at the Miami International Airport in May 2024
(Image credit: Jakub Porzycki/NurPhoto via Getty Images)

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.

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Joey Solitro

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.