American posts Q1 loss of $328M

American Airlines reported a first-quarter loss of $328 million and warned that it may post a loss for the year as costs continue to climb. The airline estimated that flight cancellations earlier this month will cost in the "high tens of millions of dollars." The airline plans to reduce capacity and continue a hiring freeze.

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Wall Street Journal (tiered subscription model), The · · Dallas Morning News (free registration), The · Air Transport World · · Star-Telegram (Fort Worth, Texas)

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