American Airlines Forecasts 2026 Loss as Fuel Costs Climb

American Airlines Group Inc. forecast an adjusted loss of $1.00 to $1.60 per diluted share in 2026, replacing guidance issued in July that allowed for either a loss or a profit, as sharply higher fuel costs weighed on its results and outlook. The revised forecast followed a third-quarter net loss of $269 million under generally accepted accounting principles. For the three months ended September 30, revenue rose 19.3% from a year earlier to $16.3 billion, but fuel expense increased 67.5%, or about $1.9 billion, the company reported. American’s July forecast ranged from an adjusted loss of 65 cents per share to adjusted earnings of 65 cents. Its new full-year outlook anticipates an adjusted loss of $1.00 to $1.60 per diluted share. The company also forecast a fourth-quarter adjusted loss of 50 cents to $1.10 per diluted share, assuming an average fuel price of about $4.70 per gallon. The third-quarter adjusted loss, which excludes special items, was $182 million, or 28 cents per diluted share. The GAAP net loss was $269 million, or 41 cents per diluted share. The two figures reflect different accounting measures. Fuel costs rose as the airline’s average third-quarter fuel price...