Monday, June 17, 2024 After the market closed, American Airlines announced the departure of its Chief Commercial Officer and simultaneously lowered its financial guidance. The following day, May 29, 2024, at an industry conference, American Airlines’ Chief Executive Officer revealed that the Company’s expectations for domestic performance had significantly deteriorated since the guidance provided in April. The CEO attributed the revised guidance to a softer-than-expected domestic market and the Company’s underperformance within that environment.
This announcement had an immediate impact on the stock market. On May 29, 2024, American Airlines’ stock price plummeted by $1.82 per share, representing a 13.
54% decline, closing at $11.65 per share. This sharp drop reflected investor concerns about the Company’s revised outlook and market performance.
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