American Airlines nasdaq Aal Stock Slides on Restructuring News

American Airlines (NASDAQ: AAL) Stock Slides on Restructuring News

American Airlines Group (NASDAQ: AAL) shares fell on Monday as the airline plans to reorganize its customer support team, affecting around 600 positions.

American Airlines (AAL) announced on Monday that around 600 positions within its customer support team would be affected as the airline undergoes restructuring efforts for the team.

Carolyne Truelove, vice president of reservations and service recovery, told Reuters.

“The immediate impact will be on roughly 600 jobs, but the company is looking to accommodate employees in other roles, which will mitigate the impact.”

In addition, the airline stated that it plans to transfer less complex contact center inquiries to international teams comprised of American Airlines and partner support staff.

American Airlines forecasted its 2024 profit last week, surpassing Wall Street expectations, thanks to robust international travel demand benefiting the carrier.

The company expects its full-year adjusted earnings per share will fall within the range of $2.25 to $3.25. This contrasts with analysts’ projections, which had forecasted earnings at $2.25 per share.

Meanwhile, American Airlines expects a loss between 15 and 35 cents per share for the first quarter.

American Airlines (NASDAQ: AAL) Stock Performance

AAL stock dropped -1.26% on Monday. The traders had exchanged hands with 36,588,840 (36.58 million) shares compared to the average daily trading volume of 37.18 million.