American Airlines Group, Inc. · NASDAQ:AAL
American Airlines — Q2 2026 Earnings Presentation
14 slides from American Airlines's earnings presentation, Jul 23, 2026
Slide 1: Second-Quarter 2026 Financial Results
Exhibit 99.2American Airlines Group Inc. SECOND-QUARTER 2026 FINANCIAL RESULTS July 23, 2026
Slide 2: Forward-looking statements
Certain of the statements contained in this report should be considered forward-looking statements within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements
Slide 3: Second-quarter 2026 results
Second-quarter 2026 results • Record quarterly revenue of $16.7 billion, up 16.3% year over year. • On a GAAP basis, second-quarter net earnings per diluted share of $0.11. • Excluding net special items1, second-quarter net earnings per diluted share of $0.15. 1. See GAAP to non-GAAP reconciliation
Slide 4: Four pillars driving American's revenue upside
Four pillars driving American’s revenue upside Elevate the Customer Experience Lead in Loyalty Grow the Global Network Drive Premium Revenue 4
Slide 5: Elevate the customer experience
Elevate the customer experience 5 Expand premium offerings Strengthen reliability − Continued rollout of new premium Flagship Suite® seats on the Boeing 787-9s and Airbus A321XLRs, with plans to extend across the 777 fleet. − Expanding and upgrading Admirals Club® and premium lounges in JFK and DFW,
Slide 6: Grow the global network
Caracas, Venezuela Grow the global network 6 Expanded international destinations Enhanced connectivity Source: Internal data. − Reinforced DFW and PHL as leading trans-Atlantic gateways with new nonstop routes to Budapest and Prague and increased flying to Athens. − Further strengthened our Latin Am
Slide 7: Drive premium revenue
Drive premium revenue 7 Source: Internal data. − Managed corporate revenue increased 26% year over year. − Premium unit revenue outperformed Main Cabin by more than 4 points in the second quarter. − Continued to increase upsell through changes to product attributes.
Slide 8: Lead in loyalty
Lead in loyalty 8 Source: Internal data − Second-quarter AAdvantage® enrollments increased over 30% year over year, exceeding the record growth achieved in the first quarter. − Exclusive redemption experiences like FIFA World Cup 26 TM . Expanding loyalty ecosystem − Second-quarter card spend increa
Slide 9: Outlook
Outlook 1. All adjusted earnings (loss) per diluted share guidance excludes the impact of net special items and is a non-GAAP measure. The guidance for EPS reflects an absolute number and is not a year over year comparison. The company is unable to reconcile certain forward-looking information to GA
Slide 10: Appendix
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Slide 11: GAAP to non-GAAP reconciliation
GAAP to non-GAAP reconciliation Reconciliation of GAAP Financial Information to Non-GAAP Financial Information American Airlines Group Inc. (the Company) sometimes uses financial measures that are derived from the condensed consolidated financial statements but that are not presented in accordance w
Slide 12: Reconciliation of Operating Income Excluding Net Special Items
GAAP to non-GAAP reconciliation 12 Reconciliation of Operating Income Excluding Net Special Items 3 Months Ended June 30, Percent 6 Months Ended June 30, Percent 2026 2025 Decrease 2026 2025 Decrease (in millions) (in millions) Operating income as reported $ 446 $ 1,135 $ 405 $ 864 Operating net spe
Slide 13: Reconciliation of Net Income Excluding Net Special Items
GAAP to non-GAAP reconciliation 13 3 Months Ended June 30, Percent 6 Months Ended June 30, Percent Reconciliation of Net Income (Loss) Excluding Net Special Items 2026 2025 Decrease 2026 2025 Decrease (in millions, except share and per share amounts) (in millions, except share and per share amounts)
Slide 14: American ®&.
American ®&. Airlines
American Airlines Group — Q2 2026 Earnings Presentation on 6ix