Friday 6 November 2026 Export AAL’s income statement to Excel — free account

American Airlines Group Inc.

American Airlines Group Inc.’s revenue for fiscal 2025 (year ended December 2025) was $54.6 billion, up 0.78% from fiscal 2024.

Revenue: +19.3%
EPS: −141.2%
Free cash flow: −43.1%
Total debt: +3.20%

Quarter to September 2026, against a year earlier

12.99 0.64 −4.70%

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Market cap: $8.6B
P/E: 0.0×
Fwd P/E: −9.4×
Dividend yield: —
F-score: 4/9
Altman Z: 0.66
Beneish M: −2.65
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Valuation Filings

American Airlines Group Inc. (AAL) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by products and services, and margins
Passenger travel	45,607	83.48%
Loyalty revenue - travel	4,036	7.39%
Loyalty revenue - marketing services	3,511	6.43%
Cargo	839	1.54%
Other revenue	640	1.17%
Gross margin		22.63%
Operating margin		2.69%
Pre-tax margin		0.35%

Revenue by product or service $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2018	FY2017	FY2016
Passenger travel	45,607 83.48%	45,743 84.38%	44,914 85.08%	41,425 84.59%	23,896 79.97%	13,456 77.61%	37,457 84.10%	36,152 84.82%	34,278 85.39%
Loyalty revenue - travel	4,036 7.39%	3,843 7.09%	3,598 6.82%	3,143 6.42%	2,167 7.25%	1,062 6.13%	3,219 7.23%	2,979 6.99%	2,767 6.89%
Loyalty revenue - marketing services	3,511 6.43%	3,257 6.01%	2,929 5.55%	2,657 5.43%	2,166 7.25%	1,825 10.53%	2,352 5.28%	2,124 4.98%	1,872 4.66%
Cargo	839 1.54%	804 1.48%	812 1.54%	1,233 2.52%	1,314 4.40%	769 4.44%	1,013 2.27%	890 2.09%	785 1.96%
Other revenue	640 1.17%	564 1.04%	535 1.01%	513 1.05%	339 1.13%	225 1.30%	500 1.12%	477 1.12%	440 1.10%
Passenger	49,643	49,586	48,512	44,568	26,063	14,518	40,676	39,131	37,045
Other	4,151	3,821	3,464	3,170	2,505	2,050	2,852	2,601	2,312
Revenue	54,633	54,211	52,788	48,971	29,882	17,337	44,541	42,622	40,142

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Available seat miles	Q3 FY2026	80.7B	77.4B	+4.24%
Average aircraft fuel price including related taxes	Q3 FY2026	$3.85	$2.37	+62.45%
Cargo ton miles	Q3 FY2026	625.0M	545.0M	+14.68%
Cargo yield per ton mile	Q3 FY2026	43.86	38.94	+12.63%
Fuel consumption	Q3 FY2026	1.2B	1.2B	+2.99%
Mainline average stage length	Q4 FY2025	1.2K	1.1K	+2.09%
Mainline departures	Q3 FY2026	304.0K	298.0K	+2.01%
Operating cost per ASM	Q3 FY2026	20.10	17.49	+14.92%
Operating cost per ASM excluding net special items	Q3 FY2026	20.08	17.48	+14.87%
Operating cost per ASM excluding net special items and fuel	Q3 FY2026	14.34	13.91	+3.09%
Passenger enplanements	Q3 FY2026	58.1M	58.5M	−0.57%
Passenger load factor	Q3 FY2026	83.4%	86.0%	—
Passenger revenue per ASM	Q3 FY2026	18.47	16.11	+14.65%
Regional average stage length	Q4 FY2025	469.00	461.00	+1.74%
Regional departures	Q3 FY2026	281.0K	267.0K	+5.24%
Revenue passenger miles	Q3 FY2026	67.3B	66.6B	+1.03%
Total aircraft at end of period	Q2 FY2026	1.6K	—	—
Total average stage length	Q2 FY2026	860.00	—	—
Total departures	Q3 FY2026	585.0K	565.0K	+3.54%
Total full-time equivalent employees at end of period	Q2 FY2026	143.4K	—	—
Total revenue per ASM	Q3 FY2026	20.25	17.69	+14.47%
Yield	Q3 FY2026	22.15	18.73	+18.26%

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023
Available seat miles	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Average aircraft fuel price including related taxes	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Cargo ton miles	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Cargo yield per ton mile	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Fuel consumption	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Mainline average stage length	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Mainline departures	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating cost per ASM	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating cost per ASM excluding net special items	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating cost per ASM excluding net special items and fuel	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Passenger enplanements	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Passenger load factor	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Passenger revenue per ASM	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Regional average stage length	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Regional departures	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Revenue passenger miles	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total aircraft at end of period	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total average stage length	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total departures	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total full-time equivalent employees at end of period	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total revenue per ASM	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Yield	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.