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American Airlines cuts 2026 earnings projections after surge in jet fuel

An American Airlines flight lands at Ronald Reagan Washington National Airport in Arlington, Virginia, U.S., Nov. 7, 2025.

Nathan Howard | Reuters

American Airlines on Thursday cut its 2026 earnings forecast, becoming the latest airline to lower its outlook after a surge in fuel costs added billions to its expenses this year.

American said it could post an adjusted per-share loss of 40 cents up to earnings of $1.10 a share, lower than the earnings of $1.70 to $2.70 it forecast in January, though Wall Street analysts have been lowering their forecasts for the industry since the U.S.-Israel attacks on Iran this year.

Here is what American reported in the first quarter compared with Wall Street estimates compiled by LSEG:

  • Loss per share: 40 cents adjusted vs. loss of 47 cents expected
  • Revenue: $13.91 billion vs. $13.79 billion expected

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