American Airlines Group
Financial Performance
American Airlines Revenue & Financials
Revenue
$54.6B (FY2025)
Market Cap
$8.9B
Net Income
$111M
Employees
139,100
What is American Airlines's revenue?
American Airlines had $54.6B in revenue for fiscal year 2025, up 0.8% from 2024. Net income was $111M.
- Latest revenue
- $54.6B (FY2025)
- Year-over-year
- +0.8%
- Growth rate (CAGR)
- 3.5% over 9 years
- Peak revenue
- $54.6B (FY2025)
- Years of data
- 10
- Employees
- 139,100
- What is American Airlines's operating income?
- American Airlines reported operating income of $1.5B for fiscal year 2025. sec.gov
- How much profit does American Airlines make?
- American Airlines reported net income of $111M for fiscal year 2025. sec.gov
- How many employees does American Airlines have?
- American Airlines has about 139,100 employees.
Financial Analysis
American Airlines operates in a capital-intensive industry with thin margins and direct exposure to fuel prices and demand shocks. In 2025 it produced $54.6 billion of operating revenue, $1.5 billion of operating income and $111 million of net income, after a government shutdown cut fourth-quarter revenue by about $325 million. The balance sheet is the binding constraint: total debt was $36.5 billion and net debt $30.7 billion at December 31, 2025, down $2.1 billion during the year, with net interest expense of $1.7 billion and total available liquidity of $9.2 billion. Management expects to reach its goal of less than $35 billion of total debt during 2026, a year ahead of schedule, and guided 2026 adjusted earnings to between $1.70 and $2.70 per diluted share with free cash flow above $2 billion. American Airlines Group operates the largest commercial airline in the world by fleet size, maintaining a market valuation generally above $10 billion.
Revenue Trend Analysis
YoY Change
+0.8%
9-Year CAGR
+3.5%
Peak Year
2025
Trend
Consistent Growth
American Airlines Group has 10 full fiscal year figures on this page, compounding at +3.5% annually over 9 years. The most recent year saw a 0.8% increase versus the prior year. Annual revenue peaked in fiscal year 2025 at $54.6B. Of 9 comparable year-over-year steps, 8 showed growth and 1 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Operating Income | Net Income | YoY Change | Source |
|---|---|---|---|---|---|
| FY2025 | $54.6B | $1.5Bfiling | $111M | +0.8% | American Airlines Group Form 10-K for 2025 Record revenue of $54.6 billion, with net income down to $111 million after a government shutdown cut fourth-quarter revenue by about $325 million. |
| FY2024 | $54.2B | $2.6Bfiling | $846M | +2.7% | American Airlines Group Form 10-K for 2025 Record revenue at the time, but net margin was only 1.6 percent under heavy debt and cost growth. |
| FY2023 | $52.8B | $3Bfiling | $822M | +7.8% | American Airlines Group Form 10-K for 2025 Growth continued toward full recovery on strong travel demand. |
| FY2022 | $49B | $1.6Bfiling | $127M | +63.9% | SEC EDGAR XBRL company concept data A 64 percent surge as travel demand and fares recovered strongly. |
| FY2021 | $29.9B | -$1.1Bfiling | -$2B | +72.4% | SEC EDGAR XBRL company concept data A 72 percent rebound as domestic leisure travel began recovering. |
| FY2020 | $17.3B | -$10.4Bfiling | -$8.9B | -62.1% | SEC EDGAR XBRL company concept data Revenue collapsed as the pandemic grounded air travel. |
| FY2019 | $45.8B | $3.1Bfiling | $1.7B | +2.8% | SEC EDGAR XBRL company concept data Last full year before the pandemic, and the peak pre-pandemic revenue year. |
| FY2018 | $44.5B | $2.7Bfiling | $1.4B | +4.5% | SEC EDGAR XBRL company concept data Higher fuel prices held net income near the prior year despite revenue growth. |
| FY2017 | $42.6B | $4.2Bfiling | $1.3B | +6.2% | SEC EDGAR XBRL company concept data Revenue grew as unit revenue recovered across the domestic network. |
| FY2016 | $40.1B | $5.1Bfiling | $2.6B | — | SEC EDGAR XBRL company concept data A restated revenue figure under the current revenue standard. |
Click any row to see year details.
American Airlines Group balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row.
| Fiscal Year | Operating cash flow | Total assets | Shareholders' equity | Source |
|---|---|---|---|---|
| FY2025ended Dec 31, 2025 | $3.1B | $61.8B | -$3.7B | Form 10-K |
| FY2024ended Dec 31, 2024 | $4B | $61.8B | -$4B | Form 10-K |
| FY2023ended Dec 31, 2023 | $3.8B | $63.1B | -$5.2B | Form 10-K |
| FY2022ended Dec 31, 2022 | $2.2B | $64.7B | -$5.8B | Form 10-K |
| FY2021ended Dec 31, 2021 | $704M | $66.5B | -$7.3B | Form 10-K |
| FY2020ended Dec 31, 2020 | -$6.5B | $62B | -$6.9B | Form 10-K |
| FY2019ended Dec 31, 2019 | $3.8B | $60B | -$118M | Form 10-K |
| FY2018ended Dec 31, 2018 | $3.5B | $60.6B | -$169M | Form 10-K |
| FY2017ended Dec 31, 2017 | $4.7B | $52.8B | -$780M | Form 10-K |
| FY2016ended Dec 31, 2016 | $6.5B | $51.3B | -$284M | Form 10-K |
Keep researching American Airlines
American Airlines Revenue and Financial FAQ
What is American Airlines' annual consolidated revenue scale?
American Airlines Group reported revenue of $54.6 billion for fiscal year 2025, up from $54.2 billion in fiscal 2024.
What are Passenger Revenue per Available Seat Mile (PRASM) and CASM in airline financials?
PRASM (unit passenger revenue per seat mile) measures passenger pricing efficiency, while CASM (cost per available seat mile, often measured excluding fuel) evaluates operational unit cost efficiency.
What is the breakdown of American Airlines' primary operating expenses?
In 2025 salaries, wages and benefits were the largest line at $17.6 billion, or 38 percent of the $53.2 billion of total operating expenses, followed by aircraft fuel and related taxes at $10.7 billion, or about 20 percent, with regional capacity purchase costs, maintenance, and airport and landing fees making up much of the rest.
What is American Airlines' total debt load and balance sheet deleveraging target?
American ended 2025 with $36.5 billion of total debt, including debt, finance and operating lease liabilities and pension obligations, and $30.7 billion of net debt, after reducing total debt by $2.1 billion during the year. It expects to reach its goal of less than $35 billion during 2026, a year ahead of schedule.
What is the financial value and cash contribution of the AAdvantage program?
AAdvantage produced $7.5 billion of revenue in 2025, and co-branded credit card and other partners paid American $6.2 billion in cash for miles. Certain AAdvantage assets and related intellectual property are pledged as collateral for the AAdvantage Financing, whose covenants restrict changes to the program.
How does jet fuel price volatility impact American Airlines' profitability?
American consumed 4.5 billion gallons of jet fuel in 2025 at an average price of $2.39 per gallon including taxes, down 8.2 percent from $2.60 in 2024, so a 10-cent move in the price per gallon changes annual fuel expense by roughly $450 million.
What is American Airlines' aircraft fleet capital expenditure strategy?
American accepted 40 mainline aircraft in 2025, including 23 Boeing 737-8 MAX, 11 Boeing 787-9, five Airbus A321XLR and one Airbus A321neo, and returned one leased mainline aircraft, while reducing the regional fleet by 18 aircraft. Retrofits of the Boeing 777-300ER, 777-200ER, Airbus A319 and A320 fleets are planned to add premium seats.
What liquidity reserves does American Airlines maintain?
American ended 2025 with $9.2 billion of total available liquidity, made up of cash and short-term investments plus undrawn capacity under revolving credit and other facilities, and guided to free cash flow above $2 billion for 2026.
Is American Airlines in debt?
Yes, American Airlines carries one of the heaviest corporate debt loads in the entire aviation industry, stemming from massive fleet renewals and pandemic borrowing.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "American Airlines Revenue & Financials." CorpDigest, https://corpdigest.com/company/american-airlines/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>American Airlines reported $54.6B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/american-airlines/financials" target="_blank" rel="noopener">CorpDigest — American Airlines financials</a></div>Related Financial Audits
Compare revenue, net income, and market cap scale
Explore American Airlines
Core profile pages, founders and related research hubs for this company.