Max Afflictions Worsen as Symptoms Mount at American, Southwest
- American warns of $400 million hit from Boeing jet’s grounding
- Southwest scratches workhorse plane from schedule into 2020
Baggage is loaded onto a Southwest Airlines flight.
Photographer: Laura Buckman/BloombergThis article is for subscribers only.
Fallout from the global ban on Boeing’s 737 Max deepened as American Airlines warned that profit this year would take a $400 million hit, while Southwest Airlines scratched the jet from its schedule into next year.
American Airlines Group Inc. said Thursday that the drag on its annual pretax profit would include a $175 million hit for the second quarter and an expected $125 million penalty in the third. The shares fell the most in seven months.