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American Airlines CEO Vows A Reset as Downbeat Outlook Sinks Shares
(SOURCE: REUTERS)

American Airlines CEO Robert Isom on Wednesday promised a reset of the carrier's sales and distribution strategy after the carrier cut its earnings forecast for the current quarter despite robust demand for travel.

The downbeat outlook led to a 15% drop in American's shares in morning trade, dragging down the broader the NYSE Arca Airline index.

Isom blamed the changes to the airline's sales strategy for softer customer bookings, adding American was evaluating its strategy "holistically and piece by piece."

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