American Airlines Group (AAL) Company Report

Vertical Aerospace is accelerating its commercial roadmap in Japan, partnering with Marubeni Corporation to develop an Advanced Air Mobility (AAM) route network for electric air taxi services.
Piloted demonstration flights for the Valo eVTOL aircraft in the Osaka Bay area are targeted for 2026.
Marubeni has made pre-delivery payments for the first 25 of its 200 conditional pre-ordered Valo aircraft, reflecting growing commercial commitment.
The Japan Civil Aviation Bureau (JCAB) accepted Vertical's type validation application in 2023, with type certification by the UK Civil Aviation Authority (CAA) targeted for 2028.

2 days ago

Press Release

American Airlines Provides Q4 2025 Update and 2026 Outlook

AAL

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

American Airlines expects a full-year 2026 adjusted earnings per diluted share of approximately $1.70-$2.70, with a projected Q1 2026 adjusted loss per diluted share of $0.10-$0.50, which includes an estimated $150 million-$200 million revenue impact from Winter Storm Fern.
The company anticipates generating more than $2 billion in free cash flow for 2026 and expects to reduce total debt to below $35 billion by year-end 2026, a year ahead of its 2027 target.
For Q1 2026, capacity is projected to be up 3%-5% year-over-year, while revenue is expected to increase between 7% and 10% year-over-year. Full-year 2026 capacity is expected to be around mid-single digits.
Strategic initiatives include expanding premium seating, with lie-flat seats expected to increase by over 50% by 2030, and the new 10-year co-branded credit card partnership with Citi, which began January 1st.

Jan 27, 2026, 1:30 PM

Transcript

American Airlines Provides Q4 2025 Results and 2026 Outlook

AAL

Earnings

Guidance Update

New Projects/Investments

American Airlines expects a Q1 2026 adjusted loss per diluted share between $0.10 and $0.50, and a full-year 2026 adjusted earnings per diluted share of $1.70-$2.70.
The company anticipates Q1 2026 revenue to be up 7%-10% year-over-year, including an estimated $150-$200 million impact from Winter Storm Fern, which also contributed to a projected 3%-5% year-over-year capacity increase for the quarter.
American Airlines reduced total debt by $2.1 billion in 2025, bringing total debt to $36.5 billion, and expects to reach its 2027 goal of total debt below $35 billion a year early in 2026, with over $2 billion in free cash flow generation for the full year.
Strategic initiatives include expanding premium offerings, such as the new Flagship Suite product and lounges, enhancing the DFW hub with a new 13-bank structure and Terminal F, and strengthening the AAdvantage loyalty program through a new 10-year co-branded credit card partnership with Citi.

Jan 27, 2026, 1:30 PM

Transcript

American Airlines Reports Record 2025 Revenue, Provides 2026 Guidance

AAL

Earnings

Guidance Update

New Projects/Investments

American Airlines reported record fourth-quarter revenue of $14.0 billion and record full-year revenue of $54.6 billion for 2025. Adjusted diluted earnings per share were $0.16 for Q4 2025 and $0.36 for full-year 2025.
The company reduced total debt by $2.1 billion in 2025, bringing the total debt to $36.5 billion at year-end 2025. It anticipates further deleveraging, expecting total debt to be below $35 billion in 2026.
While free cash flow for 2025 was $(83) million , American Airlines expects to generate over $2 billion of free cash flow in 2026. For full-year 2026, adjusted earnings per diluted share are projected to be between $1.70 and $2.70.
The company estimates that Winter Storm Fern will negatively impact Q1 2026 revenue by between $150 million to $200 million, leading to an adjusted loss per diluted share of approximately ($0.10) to ($0.50) for the quarter.
Strategic initiatives include enhancing customer experience with new premium Flagship Suite® and free Wi-Fi, expanding the international-capable fleet, and strengthening loyalty through a new 10-year exclusive Citi agreement and partnerships with FIFA and PGA of America.

Jan 27, 2026, 1:30 PM

Presentation

American Airlines Reports Q4 2025 Results, Provides 2026 Guidance Amidst Weather Disruptions

AAL

Earnings

Guidance Update

New Projects/Investments

American Airlines reported Q4 2025 adjusted earnings per share of $0.16 and full-year adjusted EPS of $0.36, which were below guidance primarily due to a $325 million revenue impact from a government shutdown.
For Q1 2026, the company forecasts an adjusted loss per diluted share of $0.10 to $0.50, with revenue expected to increase 7% to 10% year-over-year and capacity up 3% to 5%. These Q1 figures include an estimated $150-$200 million revenue impact from Winter Storm Fern.
Full-year 2026 adjusted earnings per diluted share are projected to be $1.70 to $2.70, with anticipated free cash flow generation of more than $2 billion and capital expenditures between $4 billion and $4.5 billion.
The company reduced total debt by $2.1 billion in 2025 to $36.5 billion and expects to achieve its 2027 debt target of below $35 billion a year early in 2026.
Strategic focus areas include expanding premium offerings, with lie-flat seats projected to increase over 50% by 2030, and transforming DFW into the world's largest single-carrier hub.

Jan 27, 2026, 1:30 PM

Transcript

American Airlines Provides Upbeat 2026 Forecast and Reports Q4 Results

AAL

Guidance Update

Earnings

American Airlines forecasts 2026 adjusted earnings of $1.70–$2.70 per share, exceeding analyst expectations, driven by a recovery in corporate travel and strong demand for high-margin premium services.
The airline anticipates first-quarter revenue growth of 7–10% and expects to generate more than $2 billion in free cash flow for 2026.
For 2025, the company reported a fourth-quarter net income of $99 million (or $0.15 per diluted share) and a full-year net income of $111 million (or $0.17 per diluted share), having also trimmed $2.1 billion of debt.
Winter Storm Fern is projected to cost the airline $150–$200 million in the current quarter due to over 9,000 flight cancellations.

Jan 27, 2026, 12:49 PM

Morningstar

American Airlines Reports Q4 and Full-Year 2025 Financial Results

AAL

Earnings

Guidance Update

Revenue Acceleration/Inflection

American Airlines Group Inc. reported record fourth-quarter 2025 revenue of $14.0 billion and record full-year 2025 revenue of $54.6 billion.
For full-year 2025, GAAP net income was $111 million or $0.17 per diluted share, and adjusted net income (excluding special items) was $237 million or $0.36 per diluted share.
The company reduced its total debt by $2.1 billion in 2025, ending the year with $36.5 billion in total debt.
American Airlines anticipates full-year 2026 adjusted EPS to be between $1.70 and $2.70 and expects free cash flow of more than $2 billion.
The company's fourth-quarter 2025 revenue was negatively impacted by approximately $325 million due to a government shutdown, and its Q1 2026 guidance includes an estimated $150-$200 million negative revenue impact from Winter Storm Fern.

Jan 27, 2026, 12:00 PM

8-K

American Airlines Reports Fourth-Quarter and Full-Year 2025 Financial Results

AAL

Earnings

Guidance Update

Debt Issuance

American Airlines Group reported record full-year 2025 revenue of $54.6 billion and GAAP net income of $111 million, or $0.17 per diluted share.
Excluding net special items, full-year 2025 net income was $237 million, or $0.36 per diluted share.
The company reduced its total debt by $2.1 billion in 2025, ending the year with $36.5 billion in total debt.
For full-year 2026, American Airlines expects adjusted EPS to be between $1.70 and $2.70 and free cash flow of more than $2 billion.
Fourth-quarter 2025 revenue was negatively impacted by approximately $325 million due to a government shutdown, while first-quarter 2026 guidance incorporates a $150-$200 million negative revenue impact from Winter Storm Fern.

Jan 27, 2026, 12:00 PM

Press Release

American Airlines Highlights Debt Reduction, Premium Strategy, and Loyalty Program Growth at Investor Conference

AAL

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

American Airlines achieved its goal of reducing total debt to below $37 billion by the end of 2024, ahead of its 2025 target, and is now aiming for below $35 billion by the end of 2027.
The new Citi deal for the AAdvantage program, commencing in January 2026, is projected to generate 10% annual growth in remuneration, contributing to a $1.5 billion EBIT improvement versus 2024 by the end of the decade.
The company is heavily investing in its premium product, anticipating 50% growth in lie-flat seats and 30% growth in overall premium seats over the next few years, as premium traffic currently constitutes 50% of revenues and is expanding.
American Airlines expects to close its margin gap with competitors in 2026 due to sales and distribution recovery, international tailwinds, and secured labor contracts, with an objective to achieve a double-B credit rating in the near term.

Dec 10, 2025, 2:00 PM

Transcript

American Airlines Discusses Debt Reduction, Growth Plans, and Premium Strategy

AAL

Debt Issuance

New Projects/Investments

Revenue Acceleration/Inflection

American Airlines has significantly reduced its total debt from $54 billion to below $37 billion, with a further target of $35 billion.
The company has secured labor contracts, ensuring cost certainty through 2027-2028, and plans to grow its airline by approximately 5% annually with $3 billion-$3.5 billion in aircraft capital expenditures.
Premium traffic now accounts for 50% of revenues and is growing, supported by planned 50% growth in lie-flat seats and 30% growth in premium seats over the next few years.
The Citi partnership, commencing in January 2026, is expected to provide a $1.5 billion boost to the P&L, with cash remuneration projected to reach $10 billion as the decade progresses.