The 737-Max reaches the forecasts of American Airlines

American Airlines has canceled its earnings forecast for the full year, with losses estimated at $ 350 million (£ 270 million) due to the grounding of its Boeing 737 Max aircraft.

The airline canceled 15,000 flights with its two dozen 737 Max aircraft until the end of August.

Aviation regulators around the world grounded the 737 Max fleets after two crashes killed 346 people.

American Airlines said it was confident in the return of jet planes in August.

Before this happens, aircraft manufacturer Boeing is to develop a software patch for the 737 Max and a new pilot training for regulatory approval by the US Federal Aviation Administration.

American Airlines also said its fuel costs for the year would now be $ 650 million more than expected, due to rising oil prices.

The largest US airline carrying passengers transported said it is now expecting its adjusted earnings for 2019 to fall between $ 4 and $ 6 per share, rising from a range of 5.50 to 7.50 dollars per share.

For the first quarter, which was not fully impacted by the grounding of 737 Max jets, net income was $ 185 million compared to $ 159 million for the same period in 2018.