Is American Airlines lowering its financial forecasts?

American Airlines is lowering some of its second-quarter financial forecasts and has announced the departure of its chief commercial officer. Shares slid more than 14% Wednesday and shares of all other airlines fell as well. Passenger airlines were among the worst performers on the S&P.

Why did American Airlines lose $545 million in 3rd quarter?

DALLAS (AP) — American Airlines posted a $545 million loss for the third quarter as revenue was flat with last summer and costs rose, especially to cover a new contract with its pilots. American on Thursday cut its forecast of full-year earnings to between $2.25 and $2.50 per share, down from a previous forecast of $3 to $3.75 per share.

Will American Airlines go bankrupt?

Though the COVID crisis left its deepest scars on American, the airline’s rebounded sufficiently to generate well above the profit dollars needed to pay its creditors. Hence, the chance it will fall into bankruptcy, as it did in 2011, appear minimal.