On Thursday, American Airlines Group Inc. lowered its estimate for a key revenue metric for the fourth quarter.
It is now expecting its unit revenue – which compares sales to flight capacity - to have grown about 1.5% in the quarter, compared with its earlier estimate of 1.5 - 3.5% increase.
The airline also cut its full-year earnings per share estimate to a range of $4.40 to $4.60, from $4.50 to $5 earlier. Analysts were expecting earnings of $4.62 per share, according to IBES data from Refinitiv.
The news sent American Airlines shares tumbling -7 percent in pre-market trading.