American Airlines posts $473 million Q1 net loss; Q2 adjusted EPS guided $0.50-$1.00
American Airlines reported first-quarter 2025 revenue of $12.6 billion, down 0.2% from a year earlier, and a GAAP net loss of $473 million, or $0.72 per share, versus a $312 million loss a year earlier. The company withdrew its full-year 2025 guidance and expects second-quarter adjusted earnings of $0.50 to $1.00 per diluted share, which matters to shareholders because the loss widened and the outlook for the rest of the year is now unspecified.
Key points
- Q1 2025 total operating revenues were $12.55 billion, down 0.2% from $12.57 billion in Q1 2024.
- GAAP net loss was $473 million ($0.72 per share) versus $312 million ($0.48 per share) a year earlier; excluding net special items, the loss was $386 million ($0.59 per share).
- Q2 2025 adjusted EPS is expected to be $0.50 to $1.00 per diluted share; full-year 2025 guidance was withdrawn, with a full-year update to follow as the economic outlook clears.
- Free cash flow was $1.7 billion in the quarter, total debt fell $1.2 billion, and total available liquidity ended the quarter at $10.8 billion.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:17 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 24, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.