Shares of the airline sank more than 3% in early trading Thursday following the reduced guidance to investors.
The Dallas-based carrier now expected to lose $400 million thanks ot the embattled plane.
American Airlines said on Thursday it expected the Boeing 737 Max grounding to hit its 2019 pretax earnings by about $400 million, sending shares down about 1%, even as a strong passenger demand lifted quarterly revenues. To compensate for its reduced fleet and the absence of fresh Max deliveries, the airline will extend the lifespan of other 737 models as well as some 757s and A320s to help it meet demand.
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