American Airlines Posts Record Q1 Revenue Amid Lower Profit as Fuel Costs Rise
American Airlines Group posted Q1 2026 revenue of $13.9 billion, a record, but GAAP net loss of $382 million (or $0.58 per share); excluding net special items, net loss was $267 million (0.40). The quarter ended with debt of $34.7 billion—the lowest since mid-2015—and liquidity of $10.8 billion with over $27 billion in unencumbered assets. For Q2, adjusted EPS guidance is -$0.20 to $0.20, and the full-year outlook is roughly flat to 2025 despite jet-fuel costs rising by about $4 billion. The company emphasizes four strategic priorities—Elevate the customer experience, Grow the global network, Drive premium revenue and Lead in loyalty—supported by investments in lounges, premium seating, free high-speed Wi‑Fi and network upgrades; AAdvantage enrollments rose to record levels with double-digit growth in co-branded card spend.