American Airlines cuts full-year forecast
American Airlines announced a net loss of $269 million in the third quarter, an increase from $114 million in the same period last year, due to higher fuel costs that rose by $1.9 billion, with expectations of continued increases in the final quarter. The company attributed these losses to rising fuel prices despite possible demand decline and flight reductions. It also lowered its annual profit outlook for the third time this year, now expecting an adjusted loss per share between $1 and $1.60. The airline stated that it might be forced to cut more flights if costs remain high.
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