American Airlines says third-quarter revenue rose 19% but it posted a loss as fuel costs jumped

As of 8:28 a.m. ET, Friday, Oct. 23, 2026

American Airlines Group said Thursday, Oct. 22, that third-quarter revenue rose 19.3% from a year earlier to $16.3 billion, but that it posted a net loss as fuel expense rose $1.9 billion, or 67.5%.

The GAAP net loss was $269 million, or 41 cents a diluted share, compared with a loss of $114 million a year earlier, the company said. Excluding net special items, the adjusted net loss was $182 million, or 28 cents a share. American said it paid an average of $3.85 a gallon for fuel in the quarter.

"American delivered record third-quarter revenue and the strongest year-over-year revenue growth in my career, with premium performance leading the way," Chief Executive Robert Isom said. "While historically high fuel prices significantly impacted our financial results, our focus remains on restoring profitability and building a stronger American for the long term."

Premium revenue rose 22.9% and Main Cabin revenue rose 19.5%, the company said. American ended the quarter with $11.8 billion of total available liquidity.

Outlook

For the fourth quarter, American said it expects revenue to grow 19.5% to 22.5% from a year earlier and an average fuel price of about $4.70 a gallon, based on the forward fuel curve as of Oct. 19. At that price, it said, fuel expense would rise about $2.8 billion from the fourth quarter of 2025.

The airline forecast an adjusted loss of 50 cents to $1.10 a share for the fourth quarter and an adjusted loss of $1.00 to $1.60 a share for full-year 2026. It said it expects network growth in 2027 to slow from 2026 levels, given elevated fuel prices.