What happened
American Airlines reported Q2 2026 net income of $71 million, an 88% decrease year-over-year. This follows a $382 million loss in Q1 2026, resulting in a $311 million loss for the first half of the year. American has updated its full-year 2026 earnings per share guidance to -$0.65 to $0.65, down from previous estimates of -$0.40 to $1.10 and initial guidance of $1.70 to $2.70. For context, Delta maintained guidance of $6.50 to $7.50, while United lowered guidance to $9 to $11. The decline is attributed to rising jet fuel prices despite record revenue. CEO Robert Isom cited strong commercial strategy, but analysts view a 2026 profit as unlikely without a crash in oil prices