5 Airlines Taking A Nosedive On Lowered Guidance
Air France KLM Group (OTC: AFLYY) - down 8.35 percent
One of Europe's largest airlines announced recently it has cut its full year earnings guidance due to overcapacity on North American and Asian routes. The airline announced poor demand in Venezuela was due to a fallout dispute. The European airliner cut its EBITDA to 2.3 billion euros for this year versus its previous guidance of 2.5 billion euros for 2014.
Delta Air Lines (NYSE: DAL) - down five percent
The major airliner announced it would decrease the number of flights to and from Venezuela due to the country disallowing Delta to repatriate bolivars (Venezuela currency) earnings. Delta stated it would decrease its flights to Venezuela from one flight per day to one flight per week.
United Continental Holdings (NYSE: UAL) - down 2.38 percent
In efforts to save in salary costs, the Chicago headquartered airliner announced it would outsource more than 630 union jobs at 12 US airports.
American Airlines Group (NASDAQ: AAL) - down five percent
American Airlines CEO Doug Parker announced Monday that the airliner would make efforts of integration starting Wednesday. Parker added in his statement “It is most fitting that this new, state-of-the-art facility will bear the name of one of the most respected leaders in American's history."
Spirit Airlines (NASDAQ: SAVE) - down three percent
The cost saver airliner partnered with the online travel booking site CheapOair, allowing its customers to save on baggage options through bookings on CheapOair. Spirit customers who book flight on CheapOair will now have the ability to save up to 50 percent on flights.
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