American Airlines reports 29% increase in Q3 cargo revenue

American Airlines reported $274 million in third-quarter cargo revenue, an increase of 29.1% year over year. The carrier reported record Q3 operating revenue of $16.3 billion, up 19.3% YoY, despite rising fuel costs , the company announced today. [caption id="attachment_57146353" align="aligncenter" width="1920"] (Courtesy/American Airlines)[/caption] "Higher fuel added $1.9 billion to our costs in the third quarter, nearly 70% more than we paid during the same period last year," President and Chief Executive Robert Isom said on the company's earnings call today. "We produced a loss in the quarter that, but for this fuel spike, would've been solidly profitable." American spent $4.6 billion on jet fuel in the quarter and consumed 1.2 billion gallons, up 3% YoY. The carrier paid an average $3.85 per gallon in Q3, up 62.7% YoY. "Fuel will remain a significant headwind in the fourth quarter," Chief Financial Officer Devon May said on the call. "Based on the forward curve, as of Oct. 19, we expect an average fuel price of approximately $4.70 per gallon in the [fourth] quarter, nearly double what we paid a year ago," he said. "At that price, we expect fourth-quarter fuel expense to be approximately $2.8 billion higher year over year." American reported a net loss of $269 million, compared with a net loss of $114 million in Q3 2025. The carrier also reported in Q3: Operating income of $115 million, down 23.4% YoY; Diluted loss per common share of 41 cents, compared with a loss of 17 cents in Q3 2025; 625 million cargo ton miles, up 14.7% YoY; and Cargo yield per ton-mile of 44 cents, up 12.6% YoY. Shares of American Airlines ( NASDAQ: AAL ) were up 2.98% from market open to $12.60 as of market close today. The company has a market capitalization of $8.3 billion. billion. Southwest cargo revenue up 14% Southwest Airlines reported $48 million in cargo revenue in Q3, up 14.3% YoY, and operating revenue of $8.4 billion, up 21.2% YoY, the carrier announced today. "That is despite an $820 million year-over-year headwind from higher fuel prices," President and CEO Bob Jordan said on the company's earnings call today. [caption id="attachment_14797" align="aligncenter" width="1920"] (Courtesy/Southwest Airlines)[/caption] Southwest spent $2.2 billion on jet fuel in the quarter, up 61.7% YoY, and consumed 548 million gallons, down 1.1% YoY. The carrier paid an average $3.92 per gallon in Q3, up 63.3% YoY. Q4 2026 fuel cost per gallon is predicted to be about $4.55 based on the forward curve as of Oct. 15, according to the earnings report. The carrier reported net income of $270 million, up from $54 million in Q3 2025. Southwest also reported in Q3: Operating income of $379 million, up from $35 million in Q3 2025; and Diluted earnings per share of 55 cents, up from 10 cents in Q3 2025. "We generated $285 million in cash proceeds and recognized $96 million of gains on the sale of retiring aircraft and engines in the third quarter," CFO Tom Doxey said on the call. "With a large fleet and an ongoing retirement schedule, aircraft sales are a recurring part of our business." Shares of Southwest Airlines ( NYSE: LUV ) were up 5.47% from market open to $42.02 as of market close today. Southwest has a market capitalization of $20.1 billion. billion. Stay up to date with the latest news coming from Cargo Facts Symposium .

American Airlines reports 29% increase in Q3 cargo revenue

Southwest saw $820M YoY headwind from higher fuel prices

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