American Airlines (AAL) Q3 2026 results
American Airlines The airline forecast bigger losses this year and said it would slow its capacity growth next year as record revenues had not helped the airline recover from a rise in fuel costs.
American said Thursday that it expects a loss of between $1 and $1.60 per share in 2026 on an adjusted basis. In July, the company forecast full-year adjusted earnings per share between a loss of 65 cents and a profit of 65 cents.
The Fort Worth, Texas-based carrier is the fourth major U.S. airline to cut its 2026 forecast due to a rise in jet fuel levels after the start of the Iran war. Rising jet fuel prices have pushed airfares up more than 20% from a year ago, according to airline reports and federal data. Delta Air Lines, United Airlines And Southwest Airlines also lowered their outlook this month.
Next to labor, jet fuel is airlines’ biggest expense, and the increase has added billions to costs this year. In the third quarter alone, American’s fuel bills rose 67.5% year-over-year to $4.64 billion.
“American achieved record third-quarter sales and the strongest year-over-year sales growth of my career, with premium performance leading the way,” American CEO Robert Isom said in a press release.
Confidence in profitability in 2027
Despite lower expectations for bigger losses in 2026, Isom said in a conference call Thursday that he has “great confidence” the company will return to profitability next year.
The CEO was under pressure to boost the airline’s profits, which were lagging well behind profitable rivals Delta and United. American has invested in new lounges and updated cabins with more premium seats, and announced this year that it plans to add seat-back screens again to its fleet of narrow-body aircraft.
The airline named a new network chief earlier this month. This was the latest step in a management shake-up that included new hires in the operations department and commercial team. Last year, American hired a new commercial director, industry veteran Nat Pieper.
Read more about American’s turnaround efforts
Demand for international travel and premium travel has remained particularly robust, executives said. Late last month, American announced it was deepening its partnership with Alaska Airlines as the Seattle-based airline would join American’s joint transatlantic and transpacific operations.
The airline is also nearing an order for new widebody jets, executives said. Chief Financial Officer Devon May told CNBC on Thursday that the airline was considering the Boeing 787 Dreamliner Airbus A330 and Airbus A350.
American expects to lose between 50 cents and $1.10 per share on an adjusted basis in the fourth quarter, with revenue expected to rise up to 22.5% and capacity between 5.5% and 6.5% from a year earlier.
Here’s what American reported in the third quarter compared to Wall Street estimates compiled by LSEG:
- Loss per share: 28 cents adjusted versus 35 cents expected
- Revenue: $16.34 billion versus expected $16.22 billion
In the third quarter, American reported a net loss of $269 million, or 41 cents per share, compared with $114 million, or 17 cents per share, a year earlier. Adjusted for one-time items, American reported a loss of 28 cents per share. Sales rose 19.3% year over year to $16.34 billion.
