AAL Stock: Airlines Stall After American, Spirit Cut Q3 Outlooks
Airline stocks fell early Wednesday after American Airlines and Spirit Airlines (SAVE) cut their outlooks for the current quarter based on higher jet fuel prices and waning travel demand. AAL stock and SAVE stock retreated in early trade.
American Airlines (AAL) slashed its Q3 adjusted earnings forecast Wednesday, saying a surge in jet fuel prices and its new pilots union labor contract will squeeze profit. American now expects to pay between $2.90 and $3 per gallon of fuel,…