American Airlines Group reported adjusted fourth-quarter earnings of $0.16 per share, falling short of the consensus $0.38 estimate. Revenue for the period reached $14.0 billion, surpassing year-ago levels but slightly below analyst expectations; management attributed a $325 million revenue reduction to the recent government shutdown. GAAP net income was $99 million, or $0.15 per diluted share, while excluding special items net income rose to $106 million, or $0.16 per share. Passenger unit revenue declines in the domestic network were mitigated by stronger international and premium unit performance.

For the full year 2025, American Airlines delivered record revenue of $54.6 billion and adjusted earnings of $0.36 per share, up from $0.17 in 2024. The carrier reduced total debt by $2.1 billion, ending the year with $36.5 billion in debt and $30.7 billion in net debt, a year-ahead achievement of its sub-$35 billion target. The company closed December with $9.2 billion in available liquidity. The AAdvantage loyalty program saw enrollments rise 7 percent year-over-year, driven by expanded Citi co-branded card benefits and the introduction of free high-speed satellite Wi-Fi for members.

American projects full-year 2026 adjusted earnings between $1.70 and $2.70 per share, with free cash flow exceeding $2 billion. First-quarter capacity is forecast to grow 3 percent to 5 percent, and total revenue is expected to increase 7 percent to 10 percent year-over-year, despite a $150 million to $200 million headwind from Winter Storm Fern disruptions. Management highlighted continued investment in premium cabins, lounges and digital tools to capture high-yield corporate and leisure traffic. The rollout of AT&T-sponsored satellite Wi-Fi and the re-banking of Dallas/Fort Worth into a 13-bank hub structure aim to reinforce the carrier’s premium value proposition.