American Airlines (AAL) Q4 2025 (USD): EPS 0.15 (exp. 0.37), Revenue 14bln (exp. 14.03bln); FY adj. EPS view 1.70-2.70 (exp. 1.97)

• FY26 capex 4-4.5bln, FCF over 2bln.
• Q1 revenue +7-10% Y/Y.

• "American Airlines is positioned for significant upside in 2026 and beyond. We have built a strong foundation, and we look forward to taking advantage of the investments we have made in our customer experience, network, fleet, partnerships and loyalty program."

American Airlines reported weaker-than-expected earnings and revenue for Q4 2025, with both metrics falling short of consensus estimates. However, the company provided an optimistic outlook for FY26, indicating possible revenue growth and substantial capital expenditure, which could signal positive momentum for future profitability. Investors should monitor how the market reacts to both the disappointing current results and the hopeful guidance, especially in the context of the broader airline sector.