American Airlines lowers profit guidance

American Airlines has lowered its profit guidance to adjust for new labour contract and higher fuel prices. American now expects to pay an average of between $2.90 and $3.00 per gallon of jet fuel in the third quarter. As a result of its continued strong operating performance, the airline said that it now expects its third-quarter capacity to be at the high end of its initial guidance, or up approximately 6% to 7% versus the same period in 2022. Total revenue for the third quarter is expected to be approximately flat to prior expectations, with the mid-point of year-over-year TRASM