American Airlines' first quarter 2026 revenue beat estimates, driving a smaller-than-expected loss amid rising costs.

American Airlines reported first-quarter 2026 revenue of $13.9 billion, an increase of 10.8% year-over-year, with a GAAP net loss of ($0.58) per share. The adjusted loss per share was ($0.40), which was narrower than analyst expectations.

Key Highlights

• The company delivered record first-quarter revenue of $13.9 billion, reporting that nine of the ten highest revenue intake weeks in its history occurred during the quarter.
• Total unit revenue (TRASM) grew 7.6% year-over-year, with notable strength in international markets as Atlantic passenger unit revenue increased 16.7%.
• Progress was made on deleveraging, with total debt reduced to $34.7 billion, the company's lowest level since mid-2015.
• For the second quarter of 2026, the company expects adjusted EPS between ($0.20) and $0.20 and total revenue growth of 13.5% to 16.5% versus the prior year.