American Airlines warns of deeper potential losses as fuel bill spikes

Bloomberg07-23 22:08

American Airlines said on Thursday it could post steep losses for the year as renewed U.S.-Iran fighting pushes oil prices higher again, raising its fuel bill by billions of dollars.The move ...

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Oil prices have climbed again since the fragile agreement collapsed in early July, renewing upward pressure on airline fuel costs.American paid an average $4.05 per gallon for fuel in the second quarter, adding up to $2.2 billion in additional fuel expenses — an 83 per cent jump.The billions in additional spending on fuel is not unique to American. United alone expects nearly $6 billion in additional 2026 fuel expense compared with its plan at the start of the year. Southwest’s fuel bill bloated by nearly $900 million in the second quarter.For the third quarter, American expects to pay $3.75 per gallon, adding $1.7 billion to its previously assumed fuel bill.Still, that drop has not proved enough for the company, which expects an adjusted loss in the range of 70 cents to 10 cents for the third quarter, compared to analysts’ expectation of a 28 cent profit.American reported a second-quarter adjusted profit of 15 cents a share, above analysts’ estimates of 3 cents per share. Its record quarterly revenue of $16.74 billion also topped expectations of $16.71 billion.(Reporting by Nandan Mandayam in Bengaluru; Editing by Joyjeet Das)Related StoriesAmerican Airlines temporarily suspends some of its summer routes due to steep jet fuel costsOpens in new window","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.46.0","shortVersion":"4.46.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2653372921","isCrawlerRequest":true}