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American Airlines ($AAL) cuts its profit forecast for the second quarter, leading to a significant drop in its stock price. The airline also announces the departure of its Chief Commercial Officer Vasu Raja in June, attributing the lowered earnings forecast to a 5-6% decline in total revenue per available seat mile (TRASM). Other airlines are also affected as American Airlines revises its adjusted earnings estimate to $1.00-$1.15 per share from the previous $1.15-$1.45 range.
Meanwhile $AAPL https://t.co/KwuEaklPfA https://t.co/KA9heH0pvU
$AAL | American Airlines CEO Admits Mistake, Vows To Win Back Clients American Airlines announced the departure of Vasu Raja, the architect of its corporate booking strategy. "We can never be difficult to do business with," CEO Robert Isom stated. https://t.co/aQW4niRZxf
American Airlines' chief commercial officer Vasu Raja is out as his strategy to lead the company away from business travel has backfired https://t.co/rre3kZWBob