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American sees $185M profit hit from MAX grounding

  • American Airlines' (NASDAQ:AAL) Q2 profit will be reduced by about $185M as the carrier canceled thousands of flights due to the grounding of Boeing's (NYSE:BA) 737 MAX jets.
  • However, fewer planes in service boosted second-quarter unit revenue, a measure that compares sales to flight capacity.
  • The airline now expects unit revenue to increase between 3% and 4% percent in the quarter ended June, compared with its earlier forecast of a rise of between 1% and 3%.

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