American Airlines shares sink after Q2 profit forecast cut, drags other airlines

May 29 (Reuters) – Shares of American Airlines (AAL.O), opens new tab slumped on Wednesday after the carrier cut its profit forecast for the current quarter, citing weakening pricing power despite expectations for record travel demand in the summer season.

American Airlines shares were down nearly 8% in premarket trading on Wednesday, dragging peers Delta Air (DAL.N), opens new tab, Southwest Airlines (LUV.N), opens new tab and United Airlines (UAL.O), opens new tab, which all fell between 1.5% and 2.5%.