American Airlines cuts 2026 earnings projections after surge in jet fuel

american airlines cut its 2026 earnings forecast on thursday, blaming a surge in jet fuel costs that added billions to expenses. the carrier now sees an adjusted per-share loss of 40 cents up to earnings of $1.10, down from the $1.70 to $2.70 it forecast in january. the midpoint of that range is flat on the year, even with a $4 billion increase in fuel costs. american is the latest airline to lower its outlook since the u.s.-israel attacks on iran this year sent fuel prices volatile. fuel is typically their biggest expense after labor. carriers have been pulling back on capacity growth to cut costs, which can push airfares higher when fewer seats are available. ceo robert isom told cnbc the key is "supply and demand balance" and that american will adjust flying if needed. for the first quarter, american reported a net loss of $382 million, or 58 cents a share, narrower than the $473 million loss a year earlier. adjusted loss per share was 40 cents, beating the 47-cent loss analysts expected. revenue hit $13.91 billion, up 10.8% and above estimates. american expects second-quarter capacity growth of up to 6% and revenue up between 13.5% and 16.5%.