American Airlines Touted Failing Sales Strategy, Investor Says

American Airlines Group Inc. made misleading positive statements about a new, internet-focused sales and distribution strategy before announcing lowered revenue guidance it blamed on the program, an investor says in a proposed class action filed Thursday.

The airline and its leadership acknowledged in May that the reduced bookings were due to those strategy changes, Yazzan Qawasmi says. His complaint, filed in the US District Court for the Northern District of Texas, alleges “that they did not execute their strategy properly, and that they will now be modifying their strategy in an attempt to recapture the customers their strategy drove away.” ...