FORT WORTH, Texas, September 1, 2026, 08:38 EDT — American Airlines (AAL.O) shares dropped 1.2% as oil prices hitting $92 a barrel put further strain on the carrier’s already tight earnings margins.
- At 08:38 EDT, American Airlines was trading at $13.2685, marking a 1.20% decline from its closing price on Monday.
- Brent crude rose to $92.29, heightening pressure on the biggest and most volatile cost for carriers.
- An increase of $0.10 per gallon is projected to raise quarterly pretax costs by about $120 million.
American Airlines Group Inc. NASDAQ:AAL dropped 1.20% ahead of Tuesday’s market open, with shares changing hands at $13.2685 as of 08:38 EDT. Brent crude was quoted at $92.29 just earlier Yahoo Finance.
The shift in oil prices is significant due to the slim earnings buffer for American. The airline used 1.204 billion gallons in the second quarter. An increase of $0.10 per gallon would equal an additional pretax cost of roughly $120 million, assuming no other changes. This sum is 1.7 times the company’s quarterly GAAP net income SEC filing.
AAL premarket path
USD per share; Monday’s $13.43 close is the dashed reference
Source: Yahoo Finance. As of . Premarket indications can change rapidly.
American ended Monday at $13.43, a decline of 1.54%. Trading volume reached 68.75 million shares, coming close to the 10-day average. The stock price stayed 13.7% under its 50-day average.
Oil prices jumped following recent events. Brent crude advanced 2.7% on Monday as U.S. military targeted Iranian launchers close to the Strait of Hormuz. At the same time, U.S. equities posted losses Associated Press.
The pressure extended to airlines as well, with shares of Delta Air Lines Inc. NYSE:DAL, United Airlines Holdings Inc. NASDAQ:UAL, Southwest Airlines Co. NYSE:LUV, and JetBlue Airways Corp. NASDAQ:JBLU all falling ahead of the market open.
Airline shares under premarket pressure
Change from Monday’s regular-session close
Source: Yahoo Finance quote data. Prices sampled between 08:36 and 08:38 EDT on September 1, 2026.
American posted a record $16.7 billion in revenue for the second quarter, marking a 16.3% increase. Meanwhile, fuel costs jumped 83% to $4.88 billion. GAAP net income totaled just $71 million company results.
Revenue growth met a much larger fuel bill
Source: American Airlines SEC filing, quarter ended June 30, 2026.
Nearly half of the $2.2 billion rise in fuel costs was balanced by increased fares. CEO Robert Isom noted revenue growth was “exceeding our initial expectations.” Corporate revenue climbed 26%, providing some offset.
Management based third-quarter fuel costs on $3.75 per gallon. The company forecast an adjusted loss per share between $0.70 and $0.10 for the quarter. For the full year, guidance ranges from a loss of $0.65 per share to a profit of $0.65 per share.
Analysts on Wall Street continue to anticipate recovery potential, with twenty-five experts projecting an average target of $18.50, representing a 39.4% premium to the premarket price. Yet, TD Cowen last week lowered its price target to $16 from $24, pointing to increased fuel expenses The Fly via TipRanks.
Analysts remain split despite target upside
August recommendations from 25 analysts
Source: StockAnalysis, citing S&P Global. Ratings and targets shown as published on September 1, 2026.
The potential gains rely on earnings returning to typical levels. Analysts, on average, forecast almost no earnings for 2026, and project $2.32 per share in 2027. Based on the current price of $13.2685, the 2027 outlook equates to 5.7 times forward earnings.
American finished June holding $11.3 billion in available liquidity, limiting near-term financing risks. However, this reserve does not protect margins if fuel prices remain high.
Risks: Oil could retreat ahead of the market open. Robust ticket sales might offset higher fuel costs. On the other hand, interruptions to supply or decreased travel demand have the potential to result in outcomes that miss projections.
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