Bank of America updates on the airline sector after taking in the big capacity cut by Alaska Airlines (NYSE:ALK) and more modest tweaks to schedules over the last week from American Airlines (NASDAQ:AAL), Delta Air Lines (NYSE:DAL) and Hawaiian Airlines (NASDAQ:HA) also made modest tweaks to their schedules data over the past week.

“Capacity cuts continue to unfold and scheduled September domestic capacity declines are now greater than the declines in August. As corporate travel demand remains virtually non-existent, we expect further cuts to the fall schedule. Domestic industry capacity is tracking to -47.6% in September vs -46.3% in August and -50% in July.”

The U.S. airline industry currently shows a 46% reduction in domestic capacity for August and 56% decline in system-wide capacity.

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