American Airlines Group now expects an adjusted loss of 1.00 to 1.60 US dollars per share in 2026, abandoning its previous outlook for a result ranging from a 0.65-dollar profit to a 0.65-dollar loss. The Fort Worth-based airline’s revised forecast follows a sharp rise in jet-fuel prices, which is outpacing gains in fares and revenue despite record third-quarter sales.
For the fourth quarter, American forecasts an adjusted loss of 0.50 to 1.10 dollars per share. Based on the forward fuel curve on 19 October, the carrier expects average fuel prices of about 4.70 dollars per gallon, nearly twice the level paid a year earlier. Fuel expense could therefore be approximately 2.8 billion dollars higher than in the fourth quarter of 2025.
Third-quarter revenue increased 19.3% year on year to 16.3 billion dollars, supported in part by premium-cabin performance. However, the airline posted an adjusted loss of 0.28 dollars per share and a GAAP net loss of 269 million dollars, compared with 114 million dollars a year earlier. Quarterly fuel expense rose 67.5% to 4.6 billion dollars.
American also expects network growth in 2027 to slow from 2026 levels because of elevated fuel costs. Its shares fell about 2.6% shortly after the market opened.