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AAL

American Airlines Group Inc.

AAL

American Airlines Group Inc. • NASDAQ
$14.04 ▲ 0.83% (+0.12)
Market Cap $9.27 B
52w High $19.10
52w Low $8.50
Dividend Yield 0%
P/E 16.14
Volume 36.89M
Outstanding Shares 660.08M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $13.691B ▼ $2.217B ▼ $-114M ▼ -0.833% ▼ $-0.17 ▼ $764M ▼
Q2-2025 $14.392B ▲ $2.234B ▲ $599M ▲ 4.162% ▲ $0.91 ▲ $1.747B ▲
Q1-2025 $12.551B ▼ $2.078B ▲ $-473M ▼ -3.769% ▼ $-0.72 ▼ $248M ▼
Q4-2024 $13.66B ▲ $2.065B ▼ $590M ▲ 4.319% ▲ $0.9 ▲ $1.265B ▲
Q3-2024 $13.647B $2.136B $-149M -1.092% $-0.23 $703M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $6.858B ▼ $62.141B ▼ $66.103B ▼ $-3.962B ▼
Q2-2025 $8.573B ▲ $63.667B ▲ $67.537B ▲ $-3.87B ▲
Q1-2025 $7.466B ▲ $62.609B ▲ $67.117B ▲ $-4.508B ▼
Q4-2024 $6.984B ▼ $61.783B ▼ $65.76B ▼ $-3.977B ▲
Q3-2024 $8.472B $63.528B $68.382B $-4.854B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-114M ▼ $-46M ▼ $974M ▲ $-921M ▼ $-578M ▼ $-872M ▼
Q2-2025 $599M ▲ $963M ▼ $-1.274B ▼ $311M ▲ $851M ▲ $464M ▼
Q1-2025 $-473M ▼ $2.456B ▲ $-1.204B ▼ $-1.223B ▲ $132M ▲ $1.632B ▲
Q4-2024 $590M ▲ $398M ▲ $866M ▲ $-1.295B ▼ $-784M ▼ $-342M ▼
Q3-2024 $-149M $277M $58M $-142M $591M $-191M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Cargo and Freight
Cargo and Freight
 $220.00M ▲$190.00M ▼$210.00M ▲$210.00M ▲
Passenger
Passenger
 $12.40Bn ▲$11.39Bn ▼$13.12Bn ▲$12.47Bn ▼
Passenger Travel
Passenger Travel
 $0 ▲$0 ▲$0 ▲$11.40Bn ▲
Product and Service Other
Product and Service Other
 $1.04Bn ▲$970.00M ▼$1.06Bn ▲$1.01Bn ▼

Five-Year Company Overview

Income Statement

Income Statement American’s income statement shows a business that has largely recovered from the pandemic shock but still operates on thin margins. Revenue has climbed well above crisis levels and is now higher than in the early 2020s, with profitability returning at both the operating and net income level. The company has moved from deep losses to modest profits over the last few years, which signals better cost control and healthier demand. That said, earnings remain relatively fragile for a highly cyclical, capital‑intensive airline, and results could be sensitive to swings in fuel prices, labor costs, and the broader economy.

Balance Sheet

Balance Sheet The balance sheet is a clear weak spot. Total assets are sizable, but they are funded with a heavy load of debt and a persistent shareholder deficit, meaning liabilities exceed equity. While leverage has been slowly edging down, it is still very high by most standards, and the cash position is quite small relative to the debt outstanding. This structure gives American less financial flexibility than some peers and raises sensitivity to interest costs, refinancing conditions, and any unexpected downturn in travel demand.

Cash Flow

Cash Flow Cash generation has improved meaningfully since the depths of the pandemic. Operating cash flow is now solidly positive, showing that the core business is again producing cash rather than consuming it. After covering capital spending, free cash flow has turned positive in recent years, but the cushion is not very large given the company’s debt burden and ongoing fleet investment needs. Overall, the cash flow profile is moving in the right direction, yet it leaves limited room for error if conditions weaken or if costs rise faster than revenue.

Competitive Edge

Competitive Edge American holds a strong strategic position as one of the world’s largest airlines, with extensive routes, powerful hubs in key U.S. cities, and membership in a major global alliance. Its AAdvantage loyalty program is a major asset that helps lock in frequent travelers and supports revenue from both tickets and co‑branded credit cards. The brand is widely recognized and its premium products help differentiate it from low‑cost carriers. However, competition remains intense from both full‑service rivals and discounters, and the high fixed‑cost nature of the business limits pricing flexibility when demand softens.

Innovation and R&D

Innovation and R&D The company is leaning heavily into technology and product upgrades to strengthen its position. It is using artificial intelligence, cloud partnerships, and data analytics to smooth operations and personalize the customer experience. Investments in its mobile app, biometrics, and digital tools aim to reduce friction for travelers and improve reliability. At the same time, American is modernizing its fleet and premium cabins, enhancing in‑flight connectivity, and exploring sustainable aviation fuel and other environmental initiatives. These efforts, if executed well, could improve customer loyalty, operational efficiency, and long‑term cost competitiveness.

Summary

Overall, American Airlines looks like a carrier that has successfully climbed out of the pandemic downturn and restored basic profitability, but it continues to carry a very heavy financial load. The income statement shows recovery and stabilization, while the ongoing debt reduction is slow and the balance sheet remains stretched. Cash flows are healthier yet still constrained by high capital needs and leverage. Competitively, the network, hubs, alliance ties, and loyalty program are strong structural advantages, and the company’s push into technology, premium offerings, and sustainability could support its position over time. The main trade‑off is between these strategic strengths and innovations on one side, and the financial risk from high debt and industry cyclicality on the other.

NEWS

November 26, 2025 · 10:00 AM UTC

American Airlines to present at Goldman Sachs and Bernstein conferences

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October 23, 2025 · 8:40 AM UTC

American Airlines Names Nathaniel Pieper Chief Commercial Officer

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October 23, 2025 · 7:00 AM UTC

American Airlines Reports Third-Quarter 2025 Financial Results

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October 19, 2025 · 12:10 PM UTC

American Airlines and Citi Launch the Citi / AAdvantage Globe Mastercard

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October 9, 2025 · 10:00 AM UTC

American Airlines Group announces webcast of third-quarter 2025 financial results

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