American Airlines forecasts deeper 2026 loss on fuel spike

American Airlines now expects an adjusted full year loss of $1.00 to $1.60 a share, down from July guidance that ran from a 65 cent profit to a 65 cent loss, after its third quarter fuel bill jumped 67.5 percent to $4.64 billion.

Why it matters: American is the fourth major US carrier to cut its 2026 outlook this month on jet fuel costs tied to the Iran war, and it plans slower capacity growth next year, a sign the industry's cost shock is starting to trim schedules rather than only margins.

Data as of CNBC report of October 22, 2026, on American Airlines' third quarter release, read in full via a republication of the CNBC text and cross-checked against a second summary of the same release; the guidance, revenue and fuel figures are the company's own as reported by CNBC, with analyst estimates compiled by LSEG. Developing item.

American reported record third quarter revenue of $16.34 billion, up 19.3 percent from a year earlier and ahead of the $16.22 billion analysts surveyed by LSEG expected, with an adjusted loss of 28 cents a share against 35 cents expected and a net loss of $269 million. The top line did not cover the fuel bill, which rose 67.5 percent from a year earlier to $4.64 billion as jet fuel prices climbed after the start of the Iran war.

For the fourth quarter the airline expects an adjusted loss of 50 cents to $1.10 a share, with revenue up as much as 22.5 percent and capacity up between 5.5 and 6.5 percent. Delta Air Lines, United Airlines and Southwest Airlines have also cut their 2026 outlooks this month, and airfares have risen more than 20 percent from last year as carriers pass part of the fuel increase on.

American Airlines forecasts deeper 2026 loss on fuel spike

Sources