American Airlines says bad weather hurt Q1 results
[ATLANTA] American Airlines Group on Tuesday said flight cancellations due to bad weather hurt its first-quarter results, joining other carriers that blamed the weather for a drag on business during the period.
American grounded more than 34,000 flights in the first three months of this year, reducing quarterly revenue by about US$115 million and operating profit by about US$60 million.
The carrier cut its forecast for its operating margin to 5-7 per cent for the first quarter, compared with a late January view of 6-8 per cent.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Chinese share of French EV market slumps after incentives curbed
Ferrari unveils US$423,000 sports car with 1960s bloodline
Airbus called for compensation to take on money-losing Spirit operations: sources
China’s electric cars keep improving, a worry for rivals elsewhere
Air Canada reports bigger loss than market expectations as costs rise
Maersk raises full-year profit guidance after strong quarter