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American Airlines Group (AAL) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 23, 2026
American Airlines Group (AAL) reported revenue of $16.7B for the second quarter 2026 (Q2 2026), +16% from a year earlier and +20% from the quarter before. Operating margin was 2.7%, net earnings $71.0M (0.4% of revenue).
American Airlines Group, Q2 2026: revenue $16.7B (+16% year over year), operating margin 2.7%, net earnings $71.0M, operating cash flow $471M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $16.7B | +20% | +16% |
| Operating profit | $446M | — | -61% |
| Net earnings | $71.0M | — | -88% |
| Operating cash flow | $471M | -89% | -51% |
What changed
Revenue was $16.7B in Q2 2026, up 16% year over year and up 20% from the previous quarter. Passenger travel was the largest line at 84% of revenue. Passenger travel added $2.0B year over year (up 16%), 84% of the total change.
Operating profit was $0.45B, a 2.7% margin (down 5.2 points year over year). Operating profit fell $0.69B even though revenue rose $2.3B versus Q2 2025, so costs grew faster than sales. Total costs grew 23% against revenue growth of 16%. The fastest-growing cost line was Other operating costs (+23%). Net earnings were $0.07B, down 88% year over year. The effective tax rate was 33.6%.
Operating cash flow was $0.47B (down 51% year over year), 663% of net earnings. Non-cash charges added back $0.48B of depreciation and amortization. Working capital and other items used $0.08B. Capital expenditures of $0.82B exceeded it, leaving free cash flow of −$0.35B.
Questions
What was American Airlines Group's revenue in the second quarter 2026?
American Airlines Group (AAL) reported revenue of $16.7B for the second quarter 2026 (Q2 2026), +16% from a year earlier and +20% from the quarter before.
Was American Airlines Group profitable in the second quarter 2026?
Operating profit was $446M (2.7% of revenue) and net earnings $71.0M.