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American Airlines ($AAL) stock plunged by 15-16% after the company slashed its guidance, leading to its worst day in almost four years. CEO Robert Isom acknowledged the need for a strategy reset as the airline faces weakening demand and revenue. The departure of the chief commercial officer followed a controversial sales strategy that alienated corporate clients.
"We expect focus areas include network changes, winning back managed corporate travel, catering more to premium travelers, improving the soft product and overall customer experience," wrote analysts at TD Cowen. $AAL https://t.co/KNfEhBk1L7
American Airlines $AAL continuing to show weakness https://t.co/ZVIbbsv2X9
.@AmericanAir is in need of a strategy reset. It alienated lucrative corporate customers with a sales overhaul, and a focus on small US cities isn't paying the dividends hoped. What does American need to do? Read more on @FlightGlobal. $AAL https://t.co/pmbyYace43
