Weekly Capacity Monitor: Another week of sizable capacity cuts implying flat Jun/Sep Qs

Research evidence excerpt

Weekly Capacity Monitor: Another week of sizable capacity cuts implying flat Jun/Sep Qs

Deutsche Bank

Research

North America Industry Date

United States 24 May 2026

Weekly Capacity

Industrials Industry Update

Airlines Monitor

Another week of sizable capacity cuts

implying flat Jun/Sep Qs

Michael Linenberg

Each week, we provide a forward view of capacity growth (on a schedule-over-

Research Analyst

schedule basis) for key US markets served by US and non-US airlines over a six- +1-212-250-9254

month period. We also look at the domestic US market with and without Alaska/

Hawaii (i.e., "lower 48"). In addition to analyzing future months, we also examine Shannon Doherty

the past several months to discern any notable capacity trends. Furthermore, we

+1-212-250-5935

compare the schedules on a week-over-week basis to identify any meaningful

changes. Now that we are well beyond the global pandemic, we have resumed Angelina Zhao

comparing all monthly data on a year-over-year basis (e.g., June 2026 compares Research Associate

with June 2025). +1-212-250-9398

Doug Runte, CFA

The capacity data reflect available seat miles (rather than seats) and, therefore, can Research Analyst

be impacted by stage length, aircraft utilization, and seating density, among other +1-212-250-9319

factors. Also, investors should be mindful that airline schedules assume a 100%

completion factor; rarely is that the case. Schedule disruptions can be mundane Companies featured

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eruption, hurricane, labor strike, etc.), and occur often enough that actual flown (AAL.OQ),USD13.85

capacity will be less than scheduled capacity. Allegiant Travel Co. Buy

(ALGT.OQ),USD80.31