American Airlines forecast deeper losses this year as record revenue failed to help the airline recover from this year’s spike in fuel costs. The carrier plans to slow its capacity growth next year as a result.
American on Thursday said it expects to lose between $1 and $1.60 a share, on an adjusted basis for the full year. In July, it forecast earnings of up to 65 cents a share to a loss of as low as 65 cents a share.
The airline’s stock was down about 4% in premarket trading.
“American delivered record third-quarter revenue and the strongest year-over-year revenue growth in my career, with premium performance leading the way,” American CEO Robert Isom said in a news release. “The investments we are making across the four pillars of our commercial strategy are working, and we expect another quarter of record revenue growth to close out the year.”Â
The Fort Worth, Texas-based airline is the fourth major U.S. carrier…
