AMERICAN AIR SUSPENDS NEW PILOT TRAINING THROUGH YEAR END

(Bloomberg) -- American Airlines Group Inc. is suspending training for new pilots through the end of this year, the latest pullback by a major US carrier in the face of uneven travel demand and delayed aircraft.

Classes for new hires have been canceled in September, October and November, the airline said in an emailed statement Friday, as it adjusts to reduced flying in the second half of the year. There is no training planned for December. Aviators with conditional job offers will be given new dates in 2025, American said.

There is no impact to current pilots, including those in training, the airline said. 

The move adds to similar suspensions by rivals including United Airlines Holdings Inc., which will resume pilot hiring next month after pausing in May and June. Southwest Airlines Co. said in April that it was limiting hiring and would end the year with fewer employees than in 2023.

American and Southwest shares were little changed at 9:48 a.m. in New York trading, while United declined about 1%.

Last month, American said it would slow capacity growth to 3.5% in the second half of the year from 8% in the first half due to an errant demand forecast. The carrier cut its profit and revenue expectations at the same time, saying it had misjudged domestic demand heading into the crucial summer travel season and had pushed away lucrative corporate travel accounts with an aggressive shift in its marketing strategy.

(Updates with shares in fifth paragraph)

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2024-06-21T13:47:03Z dg43tfdfdgfd