American Airlines (AAL) Stock Drops as Capacity Cuts Signal Softer Q4 Outlook

TLDR

• American Airlines cut its Q4 2026 domestic capacity growth forecast by 110 basis points to 10.1%, with November down 300 basis points
• System growth for Q4 now stands at 6.5%, down from 7.6%, still above Delta’s 3.2% and United’s 5.7%
• TSA throughput through August 23 was down 3.7% year-over-year on a trailing seven-day basis
• Connor Clark & Lunn Investment Management bought a new $119.6 million stake in AAL during Q2
• AAL opened at $13.82, with a 12-month range of $10.09 to $18.79 and an average analyst price target of $19.03

American Airlines (AAL) stock opened at $13.82 on Monday as the carrier confirmed cuts to its fourth quarter 2026 capacity growth plans, according to a Bank of America report tracking weekly airline capacity changes.

American Airlines Group Inc., AAL

The airline trimmed its Q4 domestic capacity growth forecast by 110 basis points to 10.1%. November took the biggest hit, with growth cut by 300 basis points.

American also reduced its Atlantic growth forecast by 140 basis points to 1.8% and pulled Pacific growth down by 240 basis points, putting it at negative 2.9%.

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