American Drops as Glum Revenue Outlook Echoes United's Woes
- Average fares decline amid competition from discounters
- Key gauge won't turn positive until next year, American says
This article is for subscribers only.
American Airlines Group Inc. warned that a closely watched revenue measure won’t turn positive until next year, adding to the angst of investors already rattled by a similar forecast from United Airlines.
American, the world’s largest carrier, fell 4.5 percent to close at $38.21 Friday in New York, helping to pull down the Bloomberg U.S. Airlines Index 2.4 percent.