American Airlines cuts 2018 profit forecast again

July 26 (Reuters) - American Airlines cut its 2018 earnings forecast for the second time after it reported a 34.5 percent drop in quarterly profit on Thursday, hurt by higher fuel costs.

American said it now expects 2018 earnings per share in a range of $4.50 and $5.00, down from $5 to $6 previously, and forecast third-quarter unit revenue - a closely watched performance metric that compares sales to flight capacity - to rise 1 to 3 percent.

The No. 1 U.S. carrier by passenger traffic said it was deferring aircraft deliveries and capital expenditures, and lowering its 2018 capacity growth, as it looks to reduce non-fuel related expenses.

It would defer deliveries of 22 A321neo aircraft that were previously scheduled for delivery in 2019, 2020 and 2021.

Net income fell to $566 million, or $1.22 per share in the second quarter ended June 30, from $864 million, or $1.75 per share, a year earlier.

On an adjusted basis, American earned $1.63 per share.

Operating revenue rose 3.7 percent to $11.64 billion.

Analysts on average expected quarterly profit of $1.59 per share on revenue of $11.70 billion, according to Thomson Reuters I/B/E/S.

(Reporting by Ankit Ajmera in Bengaluru Editing by Saumyadeb Chakrabarty and Supriya Kurane)