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American Airlines Group (AAL) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 22, 2026
American Airlines Group (AAL) reported revenue of $16.3B for the third quarter 2026 (Q3 2026), +19% from a year earlier and -2% from the quarter before. Operating margin was 0.7%, net loss $269M (1.6% of revenue).
American Airlines Group, Q3 2026: revenue $16.3B (+19% year over year), operating margin 0.7%, net loss $269M, operating cash flow −$153M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $16.3B | -2% | +19% |
| Operating profit | $115M | -74% | -24% |
| Net earnings | −$269M | -479% | — |
| Operating cash flow | −$153M | -132% | — |
What changed
Revenue was $16.3B in Q3 2026, up 19% year over year and down 2% from the previous quarter. Passenger travel was the largest line at 84% of revenue. Passenger travel added $2.4B year over year (up 21%), 89% of the total change.
Operating profit was $0.12B, a 0.7% margin (down 0.4 points year over year). Operating profit fell $0.04B even though revenue rose $2.6B versus Q3 2025, so costs grew faster than sales. Total costs grew 20% against revenue growth of 19%. The fastest-growing cost line was Other operating costs (+20%). The quarter ended with a net loss of $0.27B, after a profit of $0.07B the previous quarter. Net interest and other expense of $0.45B was the main reason.
Operating cash flow was −$0.15B. Non-cash charges added back $0.49B of depreciation and amortization. Working capital and other items used $0.38B. Capital expenditures of $1.1B exceeded it, leaving free cash flow of −$1.2B.
Questions
What was American Airlines Group's revenue in the third quarter 2026?
American Airlines Group (AAL) reported revenue of $16.3B for the third quarter 2026 (Q3 2026), +19% from a year earlier and -2% from the quarter before.
Was American Airlines Group profitable in the third quarter 2026?
Operating profit was $115M (0.7% of revenue) and net loss $269M.