Filing Flows › American Airlines Group (AAL) › Q3 2025
American Airlines Group (AAL) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 23, 2025
American Airlines Group (AAL) reported revenue of $13.7B for the third quarter 2025 (Q3 2025), +0.3% from a year earlier and -5% from the quarter before. Operating margin was 1.1%, net loss $114M (0.8% of revenue).
American Airlines Group, Q3 2025: revenue $13.7B (+0.3% year over year), operating margin 1.1%, net loss $114M, operating cash flow −$46.0M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $13.7B | -5% | +0.3% |
| Operating profit | $151M | -87% | — |
| Net earnings | −$114M | -119% | — |
| Operating cash flow | −$46.0M | -105% | — |
What changed
Revenue was $13.7B in Q3 2025, roughly flat year over year and down 5% from the previous quarter. Passenger travel was the largest line at 83% of revenue. Loyalty revenue - travel added $0.09B year over year (up 9%), 193% of the total change. Passenger travel declined 1%.
Operating profit was $0.15B, a 1.1% margin (up 0.5 points year over year). Of the extra revenue versus a year earlier, 141% reached operating profit, above the 1% margin then. Total costs fell 0% while revenue was flat. The quarter ended with a net loss of $0.11B, after a profit of $0.60B the previous quarter. Net interest and other expense of $0.29B was the main reason.
Operating cash flow was −$0.05B. Non-cash charges added back $0.47B of depreciation and amortization. Working capital and other items used $0.41B. Capital expenditures of $0.83B exceeded it, leaving free cash flow of −$0.87B.
Questions
What was American Airlines Group's revenue in the third quarter 2025?
American Airlines Group (AAL) reported revenue of $13.7B for the third quarter 2025 (Q3 2025), +0.3% from a year earlier and -5% from the quarter before.
Was American Airlines Group profitable in the third quarter 2025?
Operating profit was $151M (1.1% of revenue) and net loss $114M.