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American Airlines announces CCO departure and lowers financial outlook due to weak domestic performance, causing a 13.54% stock drop to $11.65 on May 29, 2024.

American Airlines announced the departure of its Chief Commercial Officer and subsequently revised its financial outlook downward. At an industry conference on May 29, 2024, the airline’s CEO highlighted that their “domestic performance expectations have significantly deteriorated since our April guidance,” attributing the lowered projections to an unexpectedly weaker domestic market and the company’s performance within that context.

Following this announcement, American Airlines’ stock dropped $1.82 per share, a decline of 13.54%, closing at $11.65 on May 29, 2024.

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