Airline CEOs warn domestic travel demand is slowing
1. American Airlines forecasts wider losses of 60 to 80 cents per share. 2. Revenue estimates are flat, downgraded from a potential 5% increase. 3. Weak revenue attributed to Flight 5342 incident and reduced domestic leisure travel. 4. Delta Airlines also lowered first-quarter estimates, shares declined significantly. 5. Airline industry faces reduced consumer confidence and weaker economic conditions.