American Airlines Group closed Tuesday's trading session at $15.35, a decline of 4.06%. The company's stock has dropped 20% since its initial public offering in 2005. Trading volume was notably high at 82.2 million shares, significantly above its three-month average of 56 million shares.
The broader market saw modest declines, with the S&P 500 down 0.20% and the Nasdaq Composite falling 0.10%. Within the airline sector, Delta Air Lines shares decreased 2.38% and United Airlines fell 0.76%.
Delta Air Lines reported mixed quarterly earnings on Tuesday. During the earnings discussion, Delta CEO Ed Bastian noted the airline's advantage from its co-branded credit card partnership with American Express and its more affluent customer base. Bastian suggested this positioning might help Delta better withstand a proposed 10% interest rate cap on credit cards.
American Airlines shares moved lower in response to Delta's earnings report. Delta's forward guidance also fell short of Wall Street expectations. Additionally, recent Consumer Price Index data showed airfares declined 3% in December.