NEW YORK (TheStreet) -- American Airlines (AAL - Get Report) was falling 4.4% to $34.21 Tuesday after the airline announced that snowstorms cause it to cancel more than 34,000 flights in the first quarter.
The airline said that flight cancellations caused by snowstorms cost it about $115 million in revenue in the first quarter, and cut about $60 million from its operating profit. American Airlines now expects first-quarter operating margin to be between 5% and 7%, down from its previous estimate of between 6% and 8%.
American Airlines also announced numbers for the month of March. Total revenue passenger miles for the month grew 0.9% from the year-ago period to 18.5 billion. Total capacity was 22.6 billion available seat miles, up 2.9% from March 2013. Total passenger load factor was 81.8% for the month, down 1.6 points from March 2013.
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"American Airlines Group Inc., formerly AMR Corporation, operates in the airline industry. The Company's principal subsidiary is American Airlines, Inc. (American). As of December 31, 2011, American provided scheduled jet service to approximately 160 destinations throughout North America, the Caribbean, Latin America, Europe and Asia. AMR Eagle Holding Corporation (AMR Eagle), a wholly owned subsidiary of the Company, owns two regional airlines, which do business as American Eagle-American Eagle Airlines, Inc. and Executive Airlines, Inc. (collectively, the American Eagle carriers). American also contracts with an independently owned regional airline, which does business as AmericanConnection (the AmericanConnection carrier). As of December 31, 2011, AMR Eagle operated approximately 1,500 daily departures, offering scheduled passenger service to over 175 destinations in North America, Mexico and the Caribbean."