New York, May 21, 2026, 05:01 (EDT)
- American Airlines finished Wednesday up 7.4% at $12.95, ahead of the regular U.S. market open on Thursday.
- Airline stocks got a boost as oil prices dropped, with Delta, United, and others moving higher.
- Fuel costs are still a concern. American last month lowered its 2026 profit target after warning it expects jet-fuel expenses to jump by over $4 billion.
American Airlines Group Inc. shares closed 7.4% higher at $12.95 on Wednesday. The move came as falling oil prices drew buyers back to airline stocks before the U.S. session Thursday. Nasdaq’s regular session was still closed at the dateline time.
Why it matters now: Fuel costs are now the main swing factor for American’s 2026 earnings outlook. The airline’s stock is trading more on oil moves than pure travel demand, acting almost like a leveraged bet on whether crude prices hold up or retreat from this year’s war-driven surge.
U.S. regular trading was set to open at 9:30 a.m. EDT. Nasdaq posts normal hours from 9:30 a.m. to 4 p.m. Eastern, with pre-market running 4 a.m. to 9:30 a.m. May 21 isn’t on Nasdaq’s 2026 holiday list, but Memorial Day, May 25, is a full market holiday.
American traded 85.4 million shares on Wednesday, more than on Monday or Tuesday, the company’s historical stock table with LSEG data shows. Shares started at $12.11, touched $13.09, and ended at $12.95. Most of the day’s gain held.
Airline shares climbed worldwide, not just in the U.S. Reuters said weaker oil prices helped boost airlines. Delta Air Lines, United Airlines, Southwest Airlines and Alaska Air shares moved up 6% to 10%, while Wall Street’s main indexes gained over 1%.
Brent crude dropped roughly 3% to $108.31 a barrel late Wednesday morning GMT. Investors watched U.S.-Iran peace talks and shaky oil markets. Airlines keep an eye on crude since jet fuel is a big part of their costs.
American’s outlook remains tight. In April, Reuters said the airline cut its 2026 forecast, now expecting anywhere from a 40-cent loss per share to a $1.10 profit. Its earlier view was $1.70 to $2.70 a share. High jet-fuel prices pressured margins.
American said it’s facing significant pressure. For the first quarter, the company posted record revenue of $13.9 billion, a GAAP net loss of $382 million, and total debt down to $34.7 billion, the lowest since mid-2015. CEO Robert Isom called out “record revenue” for the period and said American was “on track for another second-quarter record.” American Airlines Newsroom
Bulls have a point here: demand is holding up even as fuel costs climb. American’s latest guidance, out last month, put its second-quarter total revenue growth at 13.5% to 16.5%. The company said stronger domestic and international unit revenue, or revenue per seat-mile flown, is giving a lift.
But the stock’s gains don’t look solid. If oil bounces again, or if U.S.-Iran talks don’t bring crude’s risk premium down, airlines could give back Wednesday’s rally. American says it’s only managing to pass on about half of its higher fuel costs in the second quarter, looking for more later if high prices stick around.
Wall Street gets a test in coming sessions on whether this trade is just short covering. American shares have backing from cheaper oil and a lift in the wider market, but the 2026 setup still turns on a small group of factors: fuel, summer demand, fares, and how far management can go on pushing costs without price-sensitive customers peeling off.
