Bussiness
American Airlines cuts outlook, says chief commercial officer is leaving
American Airlines passenger jets are lined up at the gates at Ronald Reagan Washington National Airport in Arlington, Virginia, on Feb. 10, 2024.
J. David Ake | Getty Images
American Airlines slashed its sales outlook on Tuesday and said its chief commercial officer, Vasu Raja will leave the company next month.
American said it expects unit revenues to fall as much as 6% in the second quarter from a year earlier, down from a previous forecast for a decline of no more than 3%. The carrier also trimmed its adjusted earnings estimate for the period to a projected range of $1 to $1.15 a share, down from a prior range of $1.15 to $1.45 a share.
The airline has trailed its rivals Delta and United in recent months in financial performance. United Airlines later on Tuesday reiterated its expectation to earn an adjusted $3.75 to $4.25 in the second quarter.
Executives from both carriers will present at a Bernstein conference on Wednesday morning.
Raja, just over two years into his role as commercial head, had been on leave recently, and a spokeswoman for the carrier said last week that he was not leaving the company. That changed after internal discussions in the past few days, according to a person familiar with the matter. He previously served as chief revenue officer and headed American’s network and alliances departments.
Raja didn’t immediately respond to a request for comment.
Correction: This story has been updated to correct Vasu Raja’s title.
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