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Pomerantz LLP announces the filing of a class action lawsuit against American Airlines Group Inc. (“American Airlines” or the “Company”) (NASDAQ: AAL). Investors are encouraged to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those emailing should include their mailing address, telephone number, and the number of shares purchased.

On May 28, 2024, American Airlines announced the termination of its Executive Vice President and Chief Commercial Officer, Vasu S. Raja, and unexpectedly reduced its short-term guidance. During a conference presentation on May 29, 2024, the Company cited a decline in consumer bookings, a domestic supply and demand imbalance, and reduced capacity growth as reasons for the lowered guidance. American Airlines specifically attributed the decline in bookings to changes in its sales and distribution strategy and the failure to execute its business strategy effectively. The Company announced plans to modify its strategy to regain customers. Consequently, American Airlines lowered its second quarter fiscal year 2024 projections, reducing the operating margin by a full percentage point and adjusted earnings per share by over 17%.

Following this news, American Airlines’ stock price dropped by $1.82 per share, or 13.54%, closing at $11.62 per share on May 29, 2024.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is recognized as a leading firm in corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, over 85 years later, Pomerantz continues this legacy, advocating for the rights of victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages for class members.