American Airlines cuts 2026 earnings projections after surge in jet fuel Published Thu, Apr 23 20267:09 AM EDTUpdated 6 Hours Ago <https://www.cnbc.com/leslie-josephs/> Leslie Josephs <https://twitter.com/lesliejosephs> @lesliejosephs ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Key Points * American Airlines is the latest carrier to cut its 2026 earnings forecast as a surge in fuel costs have added billions to airlinesâ expenses this year. * The company said it could post an adjusted loss of 40 cents per share up to earnings of $1.10 per share for 2026, lower than the per-share earnings of $1.70 to $2.70 it forecast in January, In this article * <https://www.cnbc.com/quotes/AAL> AAL+0.15 (+1.35%) Follow your favorite stocksCREATE FREE ACCOUNT <https://image.cnbcfm.com/api/v1/image/108223278-17625508032025-11-07t212521z_184818534_rc2vrhaxb5ck_rtrmadp_0_usa-shutdown-airlines.jpeg?v=1762550844&w=1858&h=1045&vtcrop=y> An American Airlines flight lands at Ronald Reagan Washington National Airport in Arlington, Virginia, U.S., Nov. 7, 2025. Nathan Howard | Reuters <https://www.cnbc.com/quotes/AAL/> American Airlines on Thursday cut its 2026 earnings forecast, becoming the latest airline to lower its outlook after a <https://www.cnbc.com/2026/04/07/iran-war-jet-fuel-airlines.html> surge in fuel costs added billions to expenses this year. American said it could post an adjusted per-share loss of 40 cents up to earnings of $1.10 a share, lower than the per-share earnings of $1.70 to $2.70 it forecast in January, though Wall Street analysts have been trimming their forecasts for the industry since the U.S.-Israel attacks on Iran this year. Airlines have been either cutting their full-year forecasts or holding off on further guidance because of volatile prices for jet fuel since the war started. Fuel is generally their biggest expense after labor. Carriers have also been pulling back on their capacity growth plans to cut costs, which can drive up airfare when fewer seats are for sale. Airline executives have said customers are still booking despite higher fares. American noted the midpoint of its 2026 earnings forecast is flat on the year, even with a $4 billion increase in fuel costs. âWeâre going to recover, but key to that is just supply and demand balance,â CEO Robert Isom told CNBCâs <https://www.cnbc.com/phil-lebeau/> Phil LeBeau on Thursday. âWeâre going to be quick to make sure that we adjust our flying if we need to.â American expects to grow capacity as much as 6% in the second quarter and forecast revenue up between 13.5% and 16.5% year over year, in line with analyst forecasts. Its adjusted earnings outlook ranged from a loss of 20 cents per share up to earnings of 20 cents. âAmerican delivered record revenue in the first quarter, and weâre on track for another record in the second quarter,â Isom said in an earnings release. âThis revenue momentum is the result of focus on our four commercial priorities â elevating the customer experience, growing our global network, driving premium revenue and leading in loyalty.â Here is what American reported in the first quarter compared with Wall Street estimates compiled by LSEG: * Loss per share: 40 cents adjusted vs. a loss of 47 cents expected * Revenue: $13.91 billion vs. $13.79 billion expected For the first quarter, American posted a net loss of $382 million, or 58 cents per share, compared with a net loss of $473 million, or 72 cents, a year earlier. Adjusting for one-time items, the company reported a loss of 40 cents per share. Its first-quarter revenue of $13.91 billion was up 10.8% from revenue of $12.55 billion a year earlier. â CNBCâs <https://www.cnbc.com/2025/04/03/stellantis-idles-plants-in-mexico-and-canada-due-to-tariffs.html> Michele Luhn contributed to this report. Read more CNBC airline news * <https://www.cnbc.com/2026/04/03/united-base-polaris-business-class.html> Basic business class is here with new, stripped-down United Polaris fares * <https://www.cnbc.com/2026/03/28/tsa-security-airfare-airports.html> Pricy airfare, airport chaos test travelersâ willingness to fly this year * <https://www.cnbc.com/2026/03/26/american-airlines-starlink-amazon-inflight-entertainment-seatback-screens.html> American is âseriously consideringâ bringing back seat-back screens to narrow-body fleet * <https://www.cnbc.com/2026/03/24/united-airlines-premium-seats.html> United ditches economy seats to make room for bigger premium cabins with new layouts * <https://www.cnbc.com/2026/03/12/airfare-prices-jet-fuel-iran-war.html> Flights are already getting more expensive after a jet fuel spike. When should yo
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