American Airlines reported a net loss of US$382 million in the first quarter of 2026, or US$0.58 per share, compared to a loss of US$473 million, or US$0.72 per share, in the same period last year. The result was below the expectations of analysts surveyed by FactSet, who expected a loss of US$0.47 per share. Excluding extraordinary items, the loss was US$267 million, or US$0.40 per share.
Despite the negative result, the airline recorded record revenue of US$13.9 billion between January and March, an increase of 10.8% year-on-year, driven by robust demand for travel and the increase in unit revenues. The number came in slightly above analysts’ expectations, at US$13.8 billion. According to the company, winter storms reduced revenue by about $320 million in the quarter.
American CEO Robert Isom stated that the company is “on track for another record in the second quarter” and highlighted that demand remains strong. Based on current bookings, the company projects revenue growth of between 13.5% and 16.5% in the second quarter, with adjusted earnings per share between a loss of $0.20 and a gain of $0.20. For 2026, the adjusted earnings per share projection ranges from a loss of $0.40 to a gain of $1.10. At the midpoint of the estimate, annual profit should be practically flat compared to 2025, despite an increase of more than US$4 billion in jet fuel expenses.
The company’s total debt fell to US$34.7 billion at the end of March, the lowest level since mid-2015. Liquidity totaled US$10.8 billion. Operating loss narrowed to $41 million from $270 million a year earlier.
American Airlines shares fluctuated in New York premarket trading after rising immediately following the earnings release. At 8:22 am (Brasília time), however, the company fell 0.26%.
