American Airlines Group annual free cash flow
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2025
American Airlines Group Free Cash Flow (FCF) History (AAL)
American Airlines Group reported −$680.0M in free cash flow for fiscal 2025, a decrease of $1.98B from the previous fiscal year, with a free cash flow margin of −1.24%.
View full American Airlines Group company overviewAmerican Airlines Group free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | −$680.0M | −$1.98B | — | −1.24% |
| 2024 | 2024-12-31 | $1.30B | $93.0M | +7.71% | +2.40% |
| 2023 | 2023-12-31 | $1.21B | $1.58B | — | +2.29% |
| 2022 | 2022-12-31 | −$373.0M | −$869.0M | — | −0.76% |
| 2021 | 2021-12-31 | $496.0M | $9.00B | — | +1.66% |
| 2020 | 2020-12-31 | −$8.50B | −$8.05B | — | −49.03% |
| 2019 | 2019-12-31 | −$453.0M | −$241.0M | — | −0.99% |
| 2018 | 2018-12-31 | −$212.0M | $1.01B | — | −0.48% |
| 2017 | 2017-12-31 | −$1.23B | −$2.02B | — | −2.88% |
| 2016 | 2016-12-31 | $793.0M | $695.0M | +709.18% | +1.98% |
| 2015 | 2015-12-31 | $98.0M | $2.33B | — | +0.24% |
| 2014 | 2014-12-31 | −$2.23B | $208.0M | — | −5.23% |
| 2013 | 2013-12-31 | −$2.44B | −$1.84B | — | −9.12% |
| 2012 | 2012-12-31 | −$603.0M | $264.0M | — | — |
| 2011 | 2011-12-31 | −$867.0M | −$146.0M | — | — |
| 2010 | 2010-12-31 | −$721.0M | −$130.0M | — | — |
| 2009 | 2009-12-31 | −$591.0M | $1.68B | — | — |
| 2008 | 2008-12-31 | −$2.27B | — | — | — |
American Airlines Group quarterly free cash flow
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Q1.26
Q2.26
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | −$351.0M | −$815.0M | — | −2.10% |
| Q1 2026 | 2026-03-31 | $3.41B | $1.78B | +109.07% | +24.53% |
| Q4 2025 | 2025-12-31 | −$1.90B | −$1.56B | — | −13.60% |
| Q3 2025 | 2025-09-30 | −$872.0M | −$681.0M | — | −6.37% |
| Q2 2025 | 2025-06-30 | $464.0M | −$13.0M | −2.73% | +3.22% |
| Q1 2025 | 2025-03-31 | $1.63B | $276.0M | +20.35% | +13.00% |
| Q4 2024 | 2024-12-31 | −$342.0M | $1.85B | — | −2.50% |
| Q3 2024 | 2024-09-30 | −$191.0M | $260.0M | — | −1.40% |
| Q2 2024 | 2024-06-30 | $477.0M | −$547.0M | −53.42% | +3.33% |
| Q1 2024 | 2024-03-31 | $1.36B | −$1.47B | −52.05% | +10.79% |
| Q4 2023 | 2023-12-31 | −$2.19B | −$1.35B | — | −16.80% |
| Q3 2023 | 2023-09-30 | −$451.0M | $597.0M | — | −3.35% |
| Q2 2023 | 2023-06-30 | $1.02B | −$117.0M | −10.25% | +7.29% |
| Q1 2023 | 2023-03-31 | $2.83B | $2.45B | +648.15% | +23.20% |
| Q4 2022 | 2022-12-31 | −$844.0M | $539.0M | — | −6.40% |
| Q3 2022 | 2022-09-30 | −$1.05B | $835.0M | — | −7.78% |
| Q2 2022 | 2022-06-30 | $1.14B | −$2.23B | −66.15% | +8.50% |
| Q1 2022 | 2022-03-31 | $378.0M | $223.0M | +143.87% | +4.25% |
| Q4 2021 | 2021-12-31 | −$1.38B | $1.63B | — | −14.67% |
| Q3 2021 | 2021-09-30 | −$1.88B | $1.30B | — | −20.99% |
| Q2 2021 | 2021-06-30 | $3.37B | $4.67B | — | +45.08% |
| Q1 2021 | 2021-03-31 | $155.0M | $1.17B | — | +3.87% |
| Q4 2020 | 2020-12-31 | −$3.01B | −$2.47B | — | −74.77% |
| Q3 2020 | 2020-09-30 | −$3.18B | −$3.20B | — | −100.25% |
| Q2 2020 | 2020-06-30 | −$1.30B | −$1.01B | — | −79.90% |
| Q1 2020 | 2020-03-31 | −$1.01B | −$1.36B | — | −11.90% |
| Q4 2019 | 2019-12-31 | −$539.0M | −$246.0M | — | −4.76% |
| Q3 2019 | 2019-09-30 | $22.0M | $1.10B | — | +0.18% |
| Q2 2019 | 2019-06-30 | −$282.0M | −$424.0M | — | −2.36% |
| Q1 2019 | 2019-03-31 | $346.0M | −$675.0M | −66.11% | +3.27% |
| Q4 2018 | 2018-12-31 | −$293.0M | $678.0M | — | −2.68% |
| Q3 2018 | 2018-09-30 | −$1.08B | −$82.0M | — | −9.36% |
| Q2 2018 | 2018-06-30 | $142.0M | −$66.0M | −31.73% | +1.22% |
| Q1 2018 | 2018-03-31 | $1.02B | $485.0M | +90.49% | +9.82% |
| Q4 2017 | 2017-12-31 | −$971.0M | −$138.0M | — | −9.15% |
| Q3 2017 | 2017-09-30 | −$1.00B | −$856.0M | — | −9.12% |
| Q2 2017 | 2017-06-30 | $208.0M | −$499.0M | −70.58% | +1.85% |
| Q1 2017 | 2017-03-31 | $536.0M | −$527.0M | −49.58% | +5.46% |
| Q4 2016 | 2016-12-31 | −$833.0M | $469.0M | — | −8.54% |
| Q3 2016 | 2016-09-30 | −$144.0M | $158.0M | — | −1.36% |
| Q2 2016 | 2016-06-30 | $707.0M | $90.0M | +14.59% | +6.82% |
| Q1 2016 | 2016-03-31 | $1.06B | −$22.0M | −2.03% | +11.27% |
| Q4 2015 | 2015-12-31 | −$1.30B | −$801.0M | — | −13.52% |
| Q3 2015 | 2015-09-30 | −$302.0M | $1.39B | — | −2.82% |
| Q2 2015 | 2015-06-30 | $617.0M | $867.0M | — | +5.70% |
| Q1 2015 | 2015-03-31 | $1.08B | $876.0M | +419.14% | +11.04% |
| Q4 2014 | 2014-12-31 | −$501.0M | $1.43B | — | −4.93% |
| Q3 2014 | 2014-09-30 | −$1.69B | −$1.11B | — | −15.16% |
| Q2 2014 | 2014-06-30 | −$250.0M | −$501.0M | — | −2.20% |
| Q1 2014 | 2014-03-31 | $209.0M | $394.0M | — | +2.09% |
| Q4 2013 | 2013-12-31 | −$1.93B | −$909.0M | — | — |
| Q3 2013 | 2013-09-30 | −$579.0M | −$4.0M | — | — |
| Q2 2013 | 2013-06-30 | $251.0M | $91.0M | +56.88% | — |
| Q1 2013 | 2013-03-31 | −$185.0M | −$1.01B | — | — |
| Q4 2012 | 2012-12-31 | −$1.02B | −$1.04B | — | — |
| Q3 2012 | 2012-09-30 | −$575.0M | $218.0M | — | — |
| Q2 2012 | 2012-06-30 | $160.0M | $604.0M | — | — |
| Q1 2012 | 2012-03-31 | $829.0M | $480.0M | +137.54% | — |
| Q4 2011 | 2011-12-31 | $21.0M | $420.0M | — | — |
| Q3 2011 | 2011-09-30 | −$793.0M | −$27.0M | — | — |
| Q2 2011 | 2011-06-30 | −$444.0M | −$749.0M | — | — |
| Q1 2011 | 2011-03-31 | $349.0M | $210.0M | +151.08% | — |
| Q4 2010 | 2010-12-31 | −$399.0M | $114.0M | — | — |
| Q3 2010 | 2010-09-30 | −$766.0M | — | — | — |
| Q2 2010 | 2010-06-30 | $305.0M | — | — | — |
| Q1 2010 | 2010-03-31 | $139.0M | — | — | — |
| Q3 2009 | 2009-09-30 | −$513.0M | — | — | — |
American Airlines Group free cash flow growth trends
Over the last five reported fiscal years, free cash flow grew from −$8.50B to −$680.0M, a net increase of $7.82B. American Airlines Group's latest reported quarter, Q2 2026, generated −$351.0M in free cash flow, a decrease of $815.0M year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review American Airlines Group filings at SEC.gov ↗