American Airlines cuts adjusted profit forecast for third quarter

(Reuters) – American Airlines Group on Wednesday cut its third-quarter adjusted profit forecast, to account for higher fuel costs and expenses related to its new collective bargaining agreement with the ALPA union.

The carrier now expects an adjusted profit of between about 20 cents to 30 cents per share in the third quarter, down from its prior range of about 85 cents to 95 cents per share.

(Reporting by Nathan Gomes in Bengaluru; Editing by Arun Koyyur)