The Fort Worth-Texas based airline also estimated its unit revenue would drop as much as 4.5% for the third quarter as high travel demand failed to make up for an excess of flights.
American Airlines CEO on Thursday vowed to be "diligent" in making sure capacity doesn't outgrow demand after the carrier slashed its profit forecast for the year after a backfired sales strategy and an industrywide glut of flights that have forced airlines to discount seats.
American expects to grow capacity in the second half of the year by about 3.5%, down from roughly 8% growth in the first half, and in line with an estimate it gave in May.
"As we take a look into the fourth quarter and then beyond, we're going to react to the marketplace and making sure that we're competitive, but at the same time, doing what's right for profitability," CEO Robert Isom said on an earnings call on Thursday. "As we take a look out into 2025, we're going to be very diligent in assessing and making sure that we're certainly not outgrowing demand."
