American Airlines Shares Fall on Dour Fourth Quarter Expectations, Weigh on Sector

American Airlines Shares Fall on Dour Fourth Quarter Expectations, Weigh on Sector
An American Airlines plane takes off from Los Angeles International Airport (LAX) in Los Angeles, California, U.S. March 28, 2018. Mike Blake/Reuters
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American Airlines shares fell as much as 11 percent on Jan. 10 after the biggest U.S. carrier cut its estimate for a closely watched measure of performance, raising concerns that slowing global economic growth is hurting business travel.

The losses in American’s shares also weighed on the broader airlines sector as slowdown fears were exacerbated by lower fuel prices, which typically lead to competitive discounting.