American Airlines earnings affected by grounding of 737 MAX

American Airlines has warned its “earnings forecast affected by the grounding of our Boeing 737 MAX fleet”, according to chairman and CEO Doug Parker after the firm reported its Q1 2019 results. The airline, which has removed its MAX fleet from its flying schedule until 19 Aug, has said that this will impact its 2019 pre-tax earnings by approximately $350 million, after cancelling 1,200 flights in the first quarter. Parker added: “With the recent run-up in oil prices, fuel expenses for the year are also expected to be approximately $650 million higher than we forecast just three months ago.” Elsewhere,