American Airlines CEO apologizes to passengers Story Highlights
NEW: American Airlines says 570 flights will be canceled Friday

"I am profoundly sorry," chief executive of American Airlines says

American expects all of its MD-80 jets to be flight-worthy by Saturday night

Alaska Airlines, Midwest Airlines cancel flights Thursday for safety checks

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(CNN) -- The chief executive of American Airlines, which has grounded almost 2,500 flights over the past three days, accepted "full responsibility" Thursday for failing to meet government inspection standards.


Passengers wait in line at O'Hare International Airport in Chicago on Wednesday.

"I am profoundly sorry that we've gotten ourselves into this situation, and I thank our customers for their patience under very difficult circumstances," American CEO Gerard Arpey said Thursday afternoon.

The airline canceled 933 flights on MD-80 jets Thursday and announced 570 would be scrapped Friday.

Potential wiring hazards in wheel wells that could cause fires or problems with landing gear prompted the action.

American canceled several hundred flights for the same reason about two weeks ago.

Earlier Thursday, American said it expected all of its MD-80 jets to be flight-worthy by Saturday night.

The airline has offered to make amends to travelers with refunds, vouchers and compensation for overnight stays.

The cancellations have delayed and stranded more than 140,000 passengers