American Airlines expects deeper 2026 loss as fuel costs soar despite record revenue

American Airlines reported record third-quarter revenue of $16.34 billion, up 19.3%, but its net loss widened to $269 million as fuel costs jumped 67.5%. The carrier now expects a full-year loss of $1 to $1.60 per share.

American Airlines said its third-quarter revenue rose 19.3% from a year earlier to $16.34 billion, up from $13.69 billion in the same period of 2025.

Fuel expenses, however, climbed 67.5% to $4.64 billion, with the carrier paying an average of $3.85 per gallon. American posted a net loss of $269 million, or 41 cents per share, compared with a loss of $114 million, or 17 cents per share, a year earlier.

An American Airlines Boeing 787 at an airport gate

For the fourth quarter, the airline expects revenue to grow 19.5% to 22.5% year over year and a loss of 50 cents to $1.10 per share. It now forecasts a full-year 2026 loss of $1 to $1.60 per share; in July it had projected a result ranging from a 65-cent loss to a 65-cent profit.

Because of persistently high fuel prices, American expects the growth of its flight network to slow in 2027 compared with 2026. CEO Robert Isom said the company achieved record revenue and the strongest annual revenue growth of his career. He said high fuel prices weighed heavily on results, but that American is focused on returning to profitability and building a stronger business over the long term.