Filing Flows › American Airlines Group (AAL) › Q1 2026
American Airlines Group (AAL) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 23, 2026
American Airlines Group (AAL) reported revenue of $13.9B for the first quarter 2026 (Q1 2026), +11% from a year earlier and -0.6% from the quarter before. Operating margin was -0.3%, net loss $382M (2.7% of revenue).
American Airlines Group, Q1 2026: revenue $13.9B (+11% year over year), operating margin -0.3%, net loss $382M, operating cash flow $4.2B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $13.9B | -0.6% | +11% |
| Operating profit | −$41.0M | -109% | — |
| Net earnings | −$382M | -486% | — |
| Operating cash flow | $4.2B | — | +72% |
| Free cash flow | $3.4B | — | — |
What changed
Revenue was $13.9B in Q1 2026, up 11% year over year and down 1% from the previous quarter. Passenger travel was the largest line at 83% of revenue. Passenger travel added $1.0B year over year (up 10%), 76% of the total change.
Operating costs exceeded revenue by $0.04B, an operating margin of -0.3%. Total costs grew 9% against revenue growth of 11%. The fastest-growing cost line was Sales & marketing (+13%). The quarter ended with a net loss of $0.38B, after a profit of $0.10B the previous quarter. Net interest and other expense of $0.43B was the main reason.
Operating cash flow was $4.2B (up 72% year over year). Non-cash charges added back $0.47B of depreciation and amortization. Working capital and other items added $4.1B. After adjusted net cash used in investing activities ($0.81B), free cash flow as the company reports it was $3.4B.
Questions
What was American Airlines Group's revenue in the first quarter 2026?
American Airlines Group (AAL) reported revenue of $13.9B for the first quarter 2026 (Q1 2026), +11% from a year earlier and -0.6% from the quarter before.
Was American Airlines Group profitable in the first quarter 2026?
Operating loss was $41.0M (-0.3% of revenue) and net loss $382M.