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CHICAGO, Oct 26 - U.S. low-fare carriers are slowing capacity growth as they look to protect their pricing power in the face of softening domestic travel demand.
The Dallas-based company said while overall demand for travel remains stable, it experienced lower-than-expected close-in bookings in both August and September. The Florida-based company has forecast a 7% annual growth in capacity in the March quarter of 2024, lower than an estimated 14% growth in the current quarter.
Analysts have been calling on airlines to cut capacity to protect their pricing power. Carriers increased capacity in the U.S. domestic market by 10% from a year ago in the third quarter and are planning for a 9% increase in the current quarter. The airline industry has been relying on robust demand to mitigate inflationary pressure with higher ticket prices.
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