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American Airlines
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Latest analysis
Updated Jul 23, 2026
American Airlines posts record $16.7 billion Q2 2026 revenue, up 16.3% YoY, but fuel costs surge 83% and full-year EPS guidance turns to a loss range.
American Airlines delivered record quarterly revenue of $16.7 billion in Q2 2026, with managed corporate revenue up 26% YoY and premium cabin passenger unit revenue up 13.4%, demonstrating broad-based commercial recovery. However, aircraft fuel expense surged 83% YoY to $4.9 billion, consuming the majority of incremental revenue and compressing GAAP net income to just $71 million. The fuel shock is severe enough that full-year 2026 adjusted EPS guidance has shifted to a loss range of ($0.65) to $0.65, a material deterioration that frames revenue outperformance as insufficient to offset structural cost pressure.
Tone: mixedRevenue
$54.6B
AAL 10-K · FY 2025
Employees
139,100
Revenue FY2024
$54.2B
Founded
1934
Profile
AAL 10-K Item 1 · Feb 18, 2026American Airlines Group Inc. is a Delaware holding company whose principal subsidiary, American Airlines, Inc., operates one of the world's largest network air carriers. The company provides scheduled passenger and cargo transportation through nine domestic hubs and a global partner gateway network serving over 350 destinations. Its wholly-owned regional subsidiaries and third-party regional carriers operate under the American Eagle brand.
Read filing description ↓ Collapse description ↑
American Airlines Group Inc. (AAG), a Delaware corporation, is a holding company and its principal, wholly-owned subsidiaries are American Airlines, Inc. (American), Envoy Aviation Group Inc., PSA Airlines, Inc. (PSA) and Piedmont Airlines, Inc. (Piedmont). AAG was formed in 1982, under the name AMR Corporation (AMR), as the parent company of American, which was founded in 1934, with roots tracing back to an air mail carrier in the Midwestern United States in 1926. Together with our wholly-owned regional airline subsidiaries and third-party regional carriers operating as American Eagle, our primary business activity is the operation of a major network air carrier, providing scheduled air transportation for passengers and cargo through our hubs in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York, Philadelphia, Phoenix and Washington, D.C. and partner gateways, including in London, Doha, Madrid, Seattle/Tacoma, Sydney and Tokyo (among others). We provide service to over 350 destinations around the world, and in 2025, approximately 224 million passengers boarded our flights. American is a founding member of the oneworld Alliance, which brings together a global network of 15 world-class member airlines and their affiliates, working together to provide a superior and seamless travel experience. Our AAdvantage loyalty program and co-branded credit card partnerships are described as material assets of the business. The cargo division transports approximately 1.0 billion pounds of freight and mail annually across over 20,000 unique origin and destination pairs.
Primary products
- Scheduled mainline passenger air transportation
- American Eagle regional air transportation
- Cargo and freight transportation
- AAdvantage loyalty program
- Co-branded credit cards
- Admirals Club and Flagship Lounge access
Business segments
End markets
Geographies
Named customers
Named competitors
“In general, beyond nonstop city pairs, carriers that have the greatest ability to seamlessly connect passengers to and from markets have a competitive advantage.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total operating revenues increased $422 million, or 0.8%, in 2025 as compared to 2024, driven by higher loyalty program revenue, while passenger revenue remained relatively flat.
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