American Airlines slashes 2026 earnings outlook as fuel costs spike

American Airlines further cut its 2026 earnings outlook, citing higher fuel costs, and sending shares in the U.S. airline that flies the most tumbling in premarket trading on Thursday.

American said it could post an adjusted loss per share of as much as 65 cents up to earnings per share of 65 cents this year, below the range it estimated in April between a loss of 40 cents per share up to earnings of $1.10 a share.

Fuel prices have been volatile even in the few short weeks of the U.S. airline earnings season that kicked off in July, which has clouded the outlook for airlines this year. Carriers say strong demand and higher fares are helping offset some of the spike. Fuel is airlines' biggest expense after labor.

Here is what American reported in the second quarter compared with Wall Street estimates compiled by LSEG:

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