American Airlines estimated $350 million loss in profit forecast for year 2019 due grounding of Boeing 737 MAX planes during its busiest travel season.
The airline extended the grounding of its 24 MAX jet through 19 August 2019, resulting cancellation of at least 115 flights daily, approximately 1,200 flights in the first quarter.
However, Airline reported a first-quarter 2019 pre-tax profit of $245 million, and a net profit of $185 million in a record first-quarter revenue of $10.6 billion.
On March 7, the company announced the unplanned removal of 14 737-800 aircraft from service for remediation work following the installation of new aircraft interiors. This also resulted in the cancellation of approximately 940 flights in the first quarter.
The airline said its employees were working overtime to accommodate some 700,000 summer travelers and thousands of crew affected by 15,000 MAX cancellations through Aug. 19.