American shares tumble 13% after sales strategy backfires, carrier cuts growth

American Airlines planes sit at the gate at Los Angeles International Airport (LAX) in Los Angeles, California, on July 26, 2023.American Airlines will slash its capacity growth in the second half of the year and consider a host of other changes, CEO Robert Isom said Wednesday, a day after the carrier cut its revenue and profit forecast and said it is parting ways with its Chief Commercial Officer, Vasu Raja.Raja led a plan to drive direct bookings at the airline in lieu of third-party sites and travel agen ...