American shares tumble 15% after sales strategy backfires; carrier cuts growth
Publishing timestamp: 2024-05-29 12:55:38
Summary
American Airlines will slash its capacity growth in the second half of the year and consider other changes to its operations after cutting its revenue and profit forecast. The CEO mentioned a host of changes to the sales strategy that backfired, including parting ways with the Chief Commercial Officer. The company's shares tumbled as investors questioned how American can capitalize on the upcoming peak travel season.
Sentiment: MIXED
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Source: https://www.cnbc.com/2024/05/29/american-airlines-growth-sales-strategy.html