FORT WORTH, Texas, September 3, 2026, 12:20 (EDT) – American Airlines (AAL.O) shares fell 0.7% after the company posted record revenue, as climbing fuel costs weighed on the bottom line.
- At 12:20 EDT, American Airlines shares were at $13.017, falling 0.7%.
- Fuel costs increased by 83.3% in the second quarter, while revenue grew by 16.3%.
- Every one-cent rise in fuel prices results in an additional $50 million in yearly costs.
American Airlines Group Inc. (NASDAQ:AAL) shares slipped 0.7% on Thursday. The share price stood at $13.017 as of 12:20 EDT. By 12:14 EDT, trading volume reached approximately 32.4 million shares Yahoo Finance.
The slight drop conceals a more significant pressure from costs. American’s fuel expenses for the second quarter increased by $2.218 billion. This amount represented about 96 cents for each additional dollar in quarterly revenue.
American Airlines intraday price
Regular-session dollars per share
As of . Source: Yahoo Finance; 30-minute observations, latest tick appended.
American trailed its biggest network rivals. Delta Air Lines (NYSE:DAL) added 0.3%. United Airlines Holdings (NASDAQ:UAL) was up 0.3% at the same point.
West Texas Intermediate crude gained 0.3% to reach $91.29 per barrel. The increase put pressure on a broader equity rally as oil prices climbed AP.
American reported record quarterly revenue of $16.7 billion. Passenger revenue increased by 15.9%, driven by higher fares and robust demand. Chief Executive Robert Isom stated the airline was “continuing the momentum we’ve built” company release.
Fuel outpaced the revenue gain
Second quarter of 2026 versus second quarter of 2025
Investor read-through: incremental fuel expense consumed about 96% of the quarter’s $2.3 billion revenue increase.
Source: American Airlines second-quarter Form 10-Q. Percentages use reported company figures; fuel-share calculations are derived.
Fuel accounted for 29.2% of revenue, compared to about 18.5% previously. At June 30, American held no fuel hedges, meaning cash flow is vulnerable to every shift in spot prices Form 10-Q.
The impact is particularly evident. Each cent rise in fuel price per gallon raises yearly costs by approximately $50 million. This calculation is based on American’s projected 2026 usage 2025 Form 10-K.
Guidance leaves little near-term earnings cushion
Company outlook issued July 23, 2026
CASM-ex excludes fuel, profit sharing and net special items. Source: American Airlines guidance.
The company projects third-quarter revenue will increase by 16% to 19%. However, it anticipates an adjusted loss per share ranging from 10 cents to 70 cents. The July forecast was based on fuel prices averaging around $3.75 per gallon.
As of June 30, American held $11.3 billion in available liquidity. On Thursday, the company’s market capitalisation stood at roughly $8.6 billion. While this cushion provides protection against volatility, it does not eliminate exposure to fuel prices.
Risks: Earnings leverage may rebound swiftly if oil prices decline or fares remain robust. Conversely, diminished demand, operational issues, or another surge in fuel costs would intensify pressure.
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