(Bloomberg) -- American Airlines Group Inc. cut its profit guidance for this quarter as the carrier continues to grapple with high costs heading into the summer travel season.

Adjusted earnings will be one dollar to $1.15 a share in the second quarter, down from a previous expectation of as much as $1.45, according to a regulatory filing Tuesday. The carrier also reduced its operating margin forecast.

The update came as American separately announced the departure of Chief Commercial Officer Vasu Raja, a leading proponent of the carrier’s domestic-focused network strategy and a driver of a controversial change in dealing with corporate travel customers. He will leave the company in June, the airline said in a statement.

American Air shares fell 4.3 per cent in extended trading at 4:56 p.m. in New York, pulling down shares of other major U.S. airlines more than one per cent in postmarket trading.

Stephen Johnson, American’s vice chair and chief strategy officer, will assume leadership of the commercial organization in addition to his current responsibilities, according to the statement. He’ll also help lead the search for a new chief commercial officer. American didn’t give a reason for Raja’s departure.