Key Highlights

● American Airlines will report third-quarter results on 22 October 2026.

● Second-quarter revenue rose 16.3% to US$16.735 billion, but net income was US$71 million.

● Aircraft fuel expense climbed 83.3% to US$4.881 billion, absorbing most of the revenue gain.

● Third-quarter adjusted EPS guidance is a loss of US$0.70 to a loss of US$0.10.

American Airlines Group Inc. (NASDAQ:AAL), whose common stock trades on Nasdaq under the symbol AAL, announced on 1 October 2026 that it will publish third-quarter 2026 financial results on 22 October 2026, with a listen-only webcast beginning at 7:30 a.m. Central Time. Until then, the latest results are those for the second quarter, released on 23 July 2026, together with guidance that already points to a difficult third quarter.

Second-quarter results: strong revenue, thin profit

Total operating revenue for the three months to 30 June 2026 was US$16.735 billion, up 16.3 per cent from US$14.392 billion a year earlier. Passenger revenue rose 15.9 per cent to US$15.214 billion, while cargo revenue grew 29.7 per cent. Capacity, measured in available seat miles, rose 5.4 per cent, and passenger unit revenue improved 10.0 per cent. Load factor slipped 1.5 percentage points to 83.2 per cent.

Costs rose faster. Operating expenses increased 22.9 per cent to US$16.289 billion, and aircraft fuel and related taxes climbed 83.3 per cent to US$4.881 billion as the average fuel price reached US$4.05 per gallon, up 77.1 per cent. Operating income was US$446 million, a margin of 2.7 per cent. Net income was US$71 million, or US$0.11 per diluted share, against US$599 million, or US$0.91, in the second quarter of 2025. Adjusted net income, a non-GAAP measure that excludes special items, was US$99 million, or US$0.15 per share.

For the first half, the airline recorded a net loss of US$311 million, or US$0.47 per share, on revenue of US$30.647 billion.

Management guidance, not results

The company guided third-quarter revenue to rise 16 to 19 per cent year on year, with capacity up 3 to 5 per cent. It expects adjusted earnings per share between a loss of US$0.70 and a loss of US$0.10, assuming a fuel price of about US$3.75 per gallon based on the forward curve as of 21 July. Third-quarter fuel expense was projected to be about US$1.7 billion higher than a year earlier. Full-year 2026 adjusted earnings per share guidance was lowered to a range from a loss of US$0.65 to a profit of US$0.65, which management attributed to higher fuel costs. No GAAP guidance is given because special items cannot be predicted.

Balance sheet and operating detail

Total available liquidity at 30 June 2026 was US$11.3 billion. Long-term debt and finance leases totalled US$28.927 billion, compared with US$29.007 billion at the end of 2025, and the company reported a stockholders' deficit of US$3.972 billion. It said it addressed its only meaningful 2027 maturity through financings completed during the quarter. Operating cash flow for the first half was US$4.694 billion, while capital expenditure and aircraft deposits were US$1.633 billion.

The airline operated 1,609 aircraft, including 1,030 mainline and 579 regional. Fleet deliveries included new Boeing 787-9 and Airbus A321XLR aircraft. Management highlighted premium cabin strength, managed corporate revenue growth of 26 per cent and an improvement in on-time arrivals of 2.8 points.

Fuel Absorbs the Gain Ahead of the 22 October Report

The quarter illustrates the airline's sensitivity to fuel: robust demand lifted revenue, yet the fuel bill absorbed most of the gain. The forward curve used for guidance may differ from actual third-quarter fuel prices, so the reported outcome could fall anywhere within, or outside, the stated range.

The disclosed next step is the 22 October release, which will show how the third quarter compared with guidance. Updates to fuel assumptions, debt activity and the fleet changes the company has described are also part of the picture.