American Airlines shares tumble on more cautious 4Q outlook

FORT WORTH, Texas (AP) — American Airlines said Thursday that its fourth-quarter revenue and full-year 2018 profit will be lighter than previously expected, raising investors' fears that airlines are discounting too many seats because of cheaper fuel.

American's stock tumbled 11 percent before partially recovering to close down $1.38, or 4.1 percent, at $32.04.

American said that revenue for each seat flown one mile, a measure of pricing power, rose about 1.5 percent over the previous fourth quarter. That's about 1 percentage point less than American had been forecasting.