Apr 26, 2019
737-Max hits American Airlines forecast
American Airlines has cut its full-year profit forecast, blaming an estimated $350m hit due to the grounding of its Boeing 737 Max aeroplanes. The airline cancelled 15,000 flights using its two dozen 737 Max jets up until late August. Aviation regulators around the world grounded the 737 Max fleets after two crashes on the aircraft killed 346 people. American Airlines said it was confident the jets would resume flying in August. For the first quarter, which was not totally affected by the grounding of 737 Max jets, net profit was $185m, up from $159m for the same period in 2018.
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