Financial Performance - Total operating revenues for Q3 2025 were $13,691 million, a slight increase from $13,647 million in Q3 2024, while year-to-date revenues reached $40,634 million compared to $40,551 million in the same period last year[19]. - Passenger revenue for Q3 2025 was $12,471 million, down 0.4% from $12,523 million in Q3 2024, with year-to-date passenger revenue at $36,985 million, a decrease of 0.5% from $37,184 million[19]. - Operating income for Q3 2025 was $151 million, compared to $89 million in Q3 2024, while year-to-date operating income decreased to $1,015 million from $1,480 million[19]. - Net loss for Q3 2025 was $114 million, an improvement from a net loss of $149 million in Q3 2024, with year-to-date net income at $12 million compared to $256 million in the same period last year[21]. - The company reported a total comprehensive loss of $99 million for Q3 2025, an improvement from a loss of $126 million in Q3 2024[21]. - For the three months ended September 30, 2025, the company recorded a net loss of $114 million, while for the nine months ended September 30, 2025, the net income was $599 million[28]. - Net income for Q3 2025 was $10 million, recovering from a net loss of $41 million in Q3 2024, while net income for the nine months ended September 30, 2025, was $344 million, down from $536 million in the same period of 2024[82]. - Operating income for Q3 2025 was $167 million, compared to $90 million in Q3 2024, with a nine-month operating income of $1,042 million, down from $1,496 million in the same period of 2024[80]. Cash Flow and Liquidity - Cash and restricted cash at the end of Q3 2025 totaled $938 million, slightly up from $933 million at the end of Q3 2024[26]. - Net cash provided by operating activities for the nine months ended September 30, 2025, was $3,373 million, down from $3,585 million in the same period of 2024[26]. - As of September 30, 2025, total available liquidity was $10.3 billion, consisting of $6.9 billion in unrestricted cash and short-term investments[151]. - The maximum availability under revolving credit and other facilities as of September 30, 2025, was $3.4 billion[49]. Debt and Liabilities - Current liabilities increased to $24,638 million as of September 30, 2025, compared to $24,295 million at the end of 2024[24]. - Long-term debt and finance leases, net of current maturities, remained stable at $25,113 million as of September 30, 2025, compared to $25,154 million at the end of 2024[24]. - Total long-term debt as of September 30, 2025, was $28.365 billion, a decrease from $30.118 billion at the end of 2024[48]. - The company replaced approximately $2.3 billion in outstanding term loans with new loans under the AAdvantage Term Loan Facilities, with a reduced quarterly principal amortization of approximately $6 million starting July 2025[51]. - An additional $1.0 billion of incremental term loans was incurred under the 2025 AAdvantage Term Loan Facility, with a quarterly principal amortization of approximately $3 million beginning July 2025[52]. - The company prepaid $487 million of equipment notes and $308 million of senior secured notes during the first nine months of 2025[56]. Assets and Investments - Total assets as of September 30, 2025, were $62,141 million, an increase from $61,783 million at the end of 2024[24]. - The company’s equity investments totaled $563 million as of September 30, 2025, reflecting an increase from $515 million at the end of 2024[67]. - The company holds a 25% equity interest in Republic Airways Holdings Inc., the parent company of Republic[73]. Revenue Breakdown - Cargo revenue increased by $10 million, or 5.0%, in Q3 2025, primarily due to a 4.3% increase in cargo yield[143]. - Other operating revenue increased by $86 million, or 9.4%, in Q3 2025, driven primarily by higher revenue from the loyalty program[144]. - Loyalty revenue from travel for the three months ended September 30, 2025, was $1,069 million, compared to $984 million in 2024, representing an increase of about 8.6%[99]. - The loyalty program liability increased to $10.514 billion as of September 30, 2025, from $10.054 billion at the end of 2024, reflecting a deferral of revenue of $3.362 billion and recognition of revenue of $(2.902) billion[46]. Operating Expenses - Total operating expenses for Q3 2025 were $13,521 million, slightly lower than $13,555 million in Q3 2024[80]. - Salaries, wages, and benefits increased by $363 million, or 8.9%, in Q3 2025, due to contractual wage rate increases and higher benefit costs[165]. - Aircraft fuel and related taxes were $2.8 billion in Q3 2025, a decrease of $107 million, or 3.7%, compared to Q3 2024[146]. - Total operating cost per available seat mile (CASM) was 17.49 cents in Q3 2025, a decrease of 2.4% from 17.92 cents in Q3 2024[149]. Taxation - The company recorded an income tax benefit of $28 million and an income tax provision of $36 million for the three and nine months ended September 30, 2025, primarily due to the utilization of NOLs[60]. - American Airlines recorded an income tax provision of $128 million in the first nine months of 2025[215]. Pension and Benefits - For the three months ended September 30, 2025, the net periodic benefit income for pension benefits was $(30) million, compared to $(39) million in 2024[68]. - The service cost for pension benefits for the nine months ended September 30, 2025, was $2 million, compared to $1 million in 2024[68]. - American Airlines made required contributions of $224 million to its defined benefit pension plans[69]. Special Items - Special items for the three months ended September 30, 2025, included labor contract expenses of $31 million, while the previous year reported $516 million for the same period[98].

Exhibit 99.1 Corporate Communications mediarelations@aa.com Investor Relations investor.relations@aa.com FOR RELEASE: Thursday, Oct. 23, 2025 American produced third-quarter revenue of $13.7 billion. Year-over-year unit revenues improved sequentially throughout the quarter with September producing positive unit revenue growth. Premium unit revenue growth year over year continues to outperform the main cabin. The company remains focused on executing its strategic priorities and delivering on its revenue pote ...

Core Viewpoint - American Airlines Group Inc. reported its third-quarter 2025 financial results, highlighting strong revenue performance and a focus on cost management and balance sheet strengthening, with optimism for future growth in 2026 and beyond [1]. Revenue Performance - The company generated third-quarter revenue of $13.7 billion, with year-over-year unit revenues improving throughout the quarter, particularly in September, which saw positive unit revenue growth [2]. - Premium unit revenue growth continues to outperform main cabin revenue growth [2]. Strategic Priorities - American Airlines aims to fully restore its share of indirect revenue impacted by previous sales strategies by the end of the year and plans to expand its share beyond historical levels, which is expected to create significant value [3]. Loyalty Program and Credit Card Performance - The AAdvantage® loyalty program saw a 7% year-over-year increase in active accounts, and spending on co-branded credit cards rose by 9% year-over-year [4]. - The company is preparing for an exclusive partnership with Citi starting in January 2026 [4]. Customer Experience Enhancements - American Airlines is enhancing the travel experience by opening new Flagship® lounges and expanding Admirals Club® lounges, alongside improvements in onboard services and partnerships with Lavazza and Champagne Bollinger [5]. Operational Performance - The airline maintained resilient operations despite challenges from significant weather events and FAA technology outages, thanks to investments in technology and operating systems [6]. Balance Sheet and Liquidity - As of the end of the third quarter, the company reported total debt of $36.8 billion and net debt of $29.9 billion, with a goal to reduce total debt to below $35 billion by the end of 2027 [7]. - The company had $10.3 billion in total available liquidity, including cash, short-term investments, and undrawn credit facilities [7]. Financial Guidance - For the fourth quarter of 2025, adjusted earnings per diluted share are expected to be between $0.45 and $0.75, with full-year adjusted EPS projected between $0.65 and $0.95 [8][9]. - The company anticipates full-year free cash flow exceeding $1 billion [8].

Core Insights - The article emphasizes the importance of staying updated with international news for informed investment decisions [1] Group 1 - The Economic Times provides comprehensive coverage of US, UK, Canada, and international news events [1] - The platform offers daily updates on economic news, which can impact market trends and investment opportunities [1] - The news app is highlighted as a tool for accessing timely information, crucial for investors [1]

Market Overview - U.S. stock futures experienced volatility following declines on Wednesday, with major benchmark indices showing lower futures [1] - Disappointing earnings guidance and escalating U.S.-China trade tensions have negatively impacted investor confidence [1] - The Trump administration is contemplating new export restrictions to China, targeting products made with U.S.-developed software [1] Treasury Yields and Federal Reserve Outlook - The 10-year Treasury bond yielded 3.98%, while the two-year bond was at 3.46% [2] - Market projections indicate a 96.7% likelihood of the Federal Reserve cutting interest rates in its October meeting [2] Stock Performance Highlights - Tesla Inc. (NASDAQ:TSLA) fell 3.04% in premarket trading despite reporting better-than-expected revenue for Q3, with earnings missing estimates [6] - International Business Machines Corp. (NYSE:IBM) dropped 7.14% despite better-than-expected financial results, but raised its full-year 2025 revenue growth guidance to "more than" 5% [6] - American Airlines Group Inc. (NASDAQ:AAL) rose 1.41% as analysts anticipate a quarterly loss of 28 cents per share on revenue of $13.63 billion [6] - Medpace Holdings Inc. (NASDAQ:MEDP) surged 18.52% after reporting Q3 revenue of $659.9 million and earnings of $3.86 per share, both exceeding analyst estimates [12] Economic Data and Analyst Insights - Initial jobless claims data will be delayed due to an impending shutdown, with existing home sales for September expected to be released at 10:00 a.m. ET [13] - Mike Wilson, Morgan Stanley's CIO, argues that the Federal Reserve is "behind the curve" and should implement significant rate cuts to align with market conditions [9][10] Commodities and Global Markets - Crude oil futures increased by 5.220% to approximately $61.54 per barrel [14] - Gold Spot prices rose 0.38% to around $4,114.22 per ounce, while Bitcoin traded 1.16% higher at $109,323.15 per coin [14]

Market Overview - U.S. stock futures experienced volatility following declines on Wednesday, with major benchmark indices showing lower futures [1] - Disappointing earnings guidance and escalating U.S.-China trade tensions have negatively impacted investor confidence [1] - The Trump administration is contemplating new export restrictions to China, targeting products made with U.S.-developed software [1] Economic Indicators - The 10-year Treasury bond yielded 3.98%, while the two-year bond was at 3.46% [2] - Market expectations indicate a 96.7% likelihood of the Federal Reserve cutting interest rates in its October meeting [2] Stock Performance - Tesla Inc. (NASDAQ:TSLA) fell 3.04% in premarket trading despite reporting better-than-expected revenue for Q3, with earnings missing estimates [6] - International Business Machines Corp. (NYSE:IBM) dropped 7.14% despite better-than-expected Q3 results, but raised its full-year 2025 revenue growth guidance to "more than" 5% [6] - American Airlines Group Inc. (NASDAQ:AAL) rose 1.41% as analysts anticipate a quarterly loss of 28 cents per share on revenue of $13.63 billion [6] - Medpace Holdings Inc. (NASDAQ:MEDP) surged 18.52% after reporting Q3 revenue of $659.9 million and earnings of $3.86 per share, both exceeding analyst estimates [12] - Ford Motor Co. (NYSE:F) shares remained unchanged ahead of its earnings report, with analysts expecting earnings of 36 cents per share on revenue of $43.08 billion [12] Sector Performance - Most sectors on the S&P 500 closed negatively, with communication services, industrials, and consumer discretionary stocks experiencing the largest losses [7] Analyst Insights - Mike Wilson, Morgan Stanley's CIO, argues that the Federal Reserve is "behind the curve" and needs to implement "meaningful" rate cuts, suggesting a need for cuts of 150 basis points or more [9][10] - Wilson believes the economy has transitioned into an "early cycle new recovery," dismissing recent market volatility as part of a new economic cycle [11]

Market Overview - U.S. stocks experienced a decline, with the Dow Jones index dropping over 300 points due to disappointing earnings guidance and rising U.S.-China trade tensions [1][4] - The Dow Jones closed lower by approximately 334 points at 46,590.41, while the S&P 500 fell 0.53% to 6,699.40, and the Nasdaq Composite decreased by 0.93% to 22,740.40 [4] Company Performance - Netflix Inc. was the largest laggard in the S&P 500, falling more than 10% after reporting a $619 million loss related to a tax dispute in Brazil, overshadowing its strong content performance [2] - AT&T Inc. shares declined around 2% following the announcement of its fiscal third-quarter financial results [2] Economic Indicators - The volume of mortgage applications decreased by 0.3% from the previous week for the week ending October 17 [3] - Most sectors in the S&P 500 closed negatively, with communication services, industrials, and consumer discretionary stocks experiencing the largest losses, while energy and consumer staples sectors closed higher [3] Investor Sentiment - The CNN Money Fear and Greed index indicated an increase in overall fear, remaining in the "Fear" zone with a current reading of 26.5, down from a prior reading of 29 [5]

Group 1 - American Airlines Group Inc. is expected to report a quarterly loss of 28 cents per share on revenue of $13.63 billion [2] - Tesla Inc. reported third-quarter revenue of $28.095 billion, a 12% increase year-over-year, but earnings per share missed estimates at 50 cents [2] - Honeywell International Inc. is anticipated to post quarterly earnings of $2.57 per share on revenue of $10.14 billion [2] - International Business Machines Corp reported better-than-expected financial results and now expects constant currency revenue growth of more than 5% for full-year 2025 [2] - Ford Motor Co. is expected to report quarterly earnings of 36 cents per share on revenue of $43.08 billion [2]

Core Viewpoint - American Airlines Group Inc is approaching a Golden Cross, a technical indicator that may lead to bullish trends as it prepares to report third-quarter earnings [1][2][6]. Technical Setup - The stock is currently trading at $12.31, above its eight-day and 20-day simple moving averages (SMAs) of $12.03 and $11.73, respectively. The 50-day SMA of $12.44 is nearing the 200-day SMA of $12.58 [3]. - Momentum indicators are positive, with the Relative Strength Index (RSI) at 55.6 and the Moving Average Convergence Divergence (MACD) trending towards a bullish crossover, suggesting a potential breakout if fundamentals align [3]. Earnings Expectations - Analysts predict a loss of 28 cents per share on revenue of $13.63 billion for the third quarter, influenced by rising fuel costs and post-pandemic travel fluctuations [1][6]. - Despite expected losses, the stock's market capitalization is $8.13 billion with a price-to-earnings (P/E) ratio of 14.7, indicating it remains an attractive speculative investment [6]. Hedge Fund Activity - Significant hedge fund holdings were noted in the second quarter, with notable investments from Millennium Management (4.59 million shares), Citadel Advisors (4.22 million shares), and Tudor Investment (353,540 shares) [4][5]. - These existing stakes suggest that institutional investors are already positioned as the stock approaches a critical technical juncture [5]. Market Context - A strong earnings report could push AAL stock past the 200-day SMA, confirming the Golden Cross and potentially increasing trading activity [2][7]. - The combination of solid earnings and a confirmed Golden Cross could attract renewed interest from both institutional and retail traders [6].

Industry Overview - The Zacks Transportation sector is facing challenges due to increased expenses, inflation-driven high interest rates, a decline in freight demand, and supply-chain issues [1][2] - Geopolitical uncertainties and tariff-related economic tensions are negatively impacting consumer sentiment and growth expectations [1] Economic Factors - Inflation concerns and risks of an economic slowdown are likely to increase market volatility [2] - Supply-chain disruptions are expected to keep costs elevated in the near future [2] Oil Prices Impact - A decrease in oil prices by 4.2% during the July-September 2025 period is anticipated to positively affect the profitability of transportation companies, as fuel costs are a major expense [3] Company Earnings Expectations - Investors are awaiting earnings results from Southwest Airlines Co. (LUV), Union Pacific Corporation (UNP), American Airlines Group Inc. (AAL), and Norfolk Southern Corporation (NSC), all scheduled for release this week [4] Southwest Airlines (LUV) - LUV is expected to report a 1.3% increase in passenger revenues compared to the third quarter of 2024 [6] - The Zacks Consensus Estimate for LUV's third-quarter 2025 revenues is $6.97 billion, reflecting a 1.44% year-over-year growth [7] - LUV's earnings estimate has been revised upward by over 100% in the past 60 days to 1 cent per share, but this represents a 93.33% decline from the previous year's actual [7][8] Union Pacific Corporation (UNP) - The Zacks Consensus Estimate for UNP's third-quarter 2025 revenues is $6.23 billion, indicating a 2.34% increase year-over-year [9] - Freight revenues are estimated at $5.86 billion, a 1.7% increase from the previous year, while other revenues are expected to decline by 3.6% [9] - The earnings estimate for UNP is $2.99 per share, reflecting an 8.73% increase from the year-ago actual [10][11] American Airlines Group Inc. (AAL) - AAL's loss estimate for the third quarter has widened to 27 cents per share, compared to a profit of 30 cents in the same quarter last year [12] - The Zacks Consensus Estimate for AAL's revenues is $13.63 billion, indicating a slight decline of 0.13% year-over-year [13] - AAL's earnings prediction does not suggest a likely earnings beat, with an Earnings ESP of -0.68% and a Zacks Rank of 3 [14] Norfolk Southern Corporation (NSC) - The earnings estimate for NSC has been revised downward by 4.50% to $3.18 per share, indicating a 2.15% decline from the previous year [15] - The revenue estimate for NSC is $3.09 billion, reflecting a 1.26% year-over-year growth [15] - E-commerce demand is expected to support shipment volumes, but challenges such as inflation, high interest rates, and weak freight demand may negatively impact performance [16][17]