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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
American Airlines Group
American Airlines Group (AAL) investor relations material
American Airlines Group Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary22 Oct, 2026
Executive summary
Q3 revenue reached a record $16.335B, up 19.3% YoY and above guidance; GAAP net loss was $269M and adjusted net loss was $182M as fuel and operating costs outweighed stronger revenue.
Adjusted diluted loss per share was $0.28; GAAP diluted loss per share was $0.41.
Premium and managed corporate demand led growth, while management expects 2027 network growth to slow amid elevated fuel prices.
Financial highlights
Passenger revenue rose 19.5% to $14.900B; cargo revenue increased 29.1% to $274M and other revenue rose 15.2% to $1.161B.
Operating income was $115M versus $151M YoY; operating expenses increased 19.8% to $16.220B.
Fuel expense rose 67.5% to $4.635B, an increase of $1.9B YoY; average fuel price including taxes was $3.85 per gallon.
Nine-month revenue increased 15.6% to $46.982B; operating income fell to $521M from $1.015B, and net loss was $580M versus net income of $12M.
Outlook and guidance
Q4 revenue growth is forecast at 19.5%-22.5% YoY, available seat miles up 5.5%-6.5%, and CASM-ex up 2.5%-3.5%.
Adjusted diluted loss per share guidance is $0.50-$1.10 for Q4 and $1.00-$1.60 for FY 2026.
Based on the Oct. 19 forward fuel curve, Q4 fuel is expected to average $4.70 per gallon, adding an estimated $2.8B to fuel expense YoY; FY 2026 fuel expense is expected to be more than $7B above 2025.
2027 network growth is expected to decelerate considerably; capacity plans will be matched to demand and profitability.
Cost-reengineering efforts using digital solutions, process improvements and procurement transformation will continue; programs target nearly $1B in annual run-rate savings and more than $900M in working-capital improvements by year-end 2026.
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Latest events from American Airlines Group
- Premium revenue growth and strategic investments drive strong outlook despite fuel volatility.AAL
Morgan Stanley's 14th Annual Laguna Conference - Record Q2 revenue and premium growth offset fuel cost surge; liquidity remains strong.AALQ2 2026
- Strong revenue growth and premium focus drive margin gains amid cost pressures and network expansion.AALBernstein 42nd Annual Strategic Decisions Conference
- Director elections, auditor ratification, and incentive plan changes headline the 2026 agenda.AALProxy filing
- Director elections, auditor ratification, and key governance proposals headline the annual meeting.AALProxy filing
- Record Q1 2026 revenue growth driven by premium demand, network expansion, and strong liquidity.AALJPMorgan Industrials Conference 2026
- Premium growth, loyalty expansion, and financial discipline set the stage for margin gains in 2026.AALBernstein Insights: 4th Annual Industrials Forum Investor Conference
- Record Q2 revenue and strong liquidity, but earnings and margins fell sharply year-over-year.AALQ2 2024
- Record revenue, strong cash flow, and accelerated debt reduction highlight 2024 results.AALQ4 2024
Next American Airlines Group earnings date
Q4 202626 Jan, 2027
American Airlines Group
Next American Airlines Group earnings date
Q4 202626 Jan, 2027
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Frequently asked questions
American Airline
American Airlines is an American commercial airline with global operations. The company offers flights to destinations across various continents including North America, South America, Europe, Asia, and Oceania. American Airlines is the largest commercial carrier in the world when measured by scheduled passengers and offers flights to roughly 350 airports around the world. The company is headquartered in Fort Worth, Texas, and its shares are listed on the NYSE.
Founding Story and Growth
American Airlines was founded in 1930 when more than eighty small regional airlines in the US came together to form a larger entity, which is also when the company adopted its current name. In 1934 and re-organized its routes into a nationwide, connected grid of flights which would lay the groundwork for the company’s domineering domestic U.S presence it maintains to this day. The company increased its focus on international flights between the 1970s and 2000s, and now offers flights to over 45 different countries around the world. One of the most notable milestones through American Airlines history is the merger with US Airways in 2013, which made the company the largest airline in the world.
Passenger Experience
The passenger experience offered by American Airlines closely mirrors what other commercial carriers offer, and meets or exceeds what air travelers expect from a modern airline. Passengers can choose from various classes of service, including Economy, Premium Economy, Business, and First Class. In-flight entertainment options such as movies, TV shows, and music are available, alongside Wi-Fi connectivity on most flights. The airline also offers a loyalty program, AAdvantage, allowing frequent flyers to earn miles redeemable for flights, upgrades, and other benefits. Additional services include online check-in, a mobile app for managing travel, and a range of inflight food and beverage options.
The OneWorld Alliance
American Airlines is a founding member of the Oneworld alliance, established in 1999. Oneworld is a global partnership of airlines, with members including Qatar Airways, Qantas, Cathay Pacific, British Airways (owned by IAG), Finnair, Alaska Airlines, and several others. Members collaborate to offer coordinated flight schedules, shared lounges, and mutual loyalty program benefits. This alliance allows passengers to earn and redeem frequent flyer miles across member airlines, take advantage of smoother connections, and access a broader range of destinations worldwide.