American Airlines said Thursday that the long grounding of Boeing 737 Max jets will cut its pretax earnings for 2019 by about $400 million, including $175 million in the second quarter.
American issued the estimate as it announced that second quarter profit rose 19% to $662 million.
The world’s biggest airline has struggled with thousands of cancelations this summer — some caused by the loss of its 24 Max jets and some due to what the airline claims is an illegal work slowdown by mechanics angling for a better labor contract.
