American Airlines cuts profit forecast as 737 MAX woes bite

American Airlines cut its 2019 profit forecast, citing the Boeing 737 MAX grounding, along with higher oil prices American Airlines cut its 2019 profit forecast, citing the Boeing 737 MAX grounding, along with higher oil prices AFP/File 

In Summary

• The US carrier estimated an overall hit of $350 million to its 2019 earnings as a result of the grounding ordered by global regulators in mid-March following two deadly crashes. That has forced the cancellation of nearly 15,000 flights and the re-accommodation of almost 700,000 customers.

By John BIERS

American Airlines slashed its profit forecast Friday largely due to the crisis around the Boeing 737 MAX, a somewhat more profound hit to operations and customer bookings than at other carriers