American's profit topped expectations but the company took a hit from the prolonged 737 Max grounding.
American posted a per-share profit of $1.82 on an adjusted basis, compared with the $1.80 analysts had expected.The airline canceled thousands of flights in the quarter because of the 737 Max grounding, which dented its pretax income by about $175 million. American has 24 Max planes in its fleet of more than 900 aircraft and another 76 on order.
American earlier this month took the planes out of its schedule through Nov. 2. On Thursday, it said the grounding would hit its pretax earnings this year by $400 million.Executives will hold a call with analysts at 8:30 a.m. ET.
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