Can American Airlines catch up to Delta and United?

FORT WORTH, Texas — American Airlines started pouring customers Champagne Bollinger in its top-tier lounges and cabins this fall. But at headquarters, it’s not time to celebrate — yet.

American has fallen behind large rivals Delta Air Lines and United Airlines in the post-Covid luxury travel boom that has taken Seoul spa vacations and 40th birthday bashes abroad out of the chat and armed millions of consumers with high-end rewards credit cards.

In the first nine months of this year, Delta made $3.8 billion and United made $2.3 billion. American made $12 million. That means that American, which offers more flights than any other airline, according to OAG, accounted for just 2% of the profit the biggest three U.S. carriers generated so far in 2025.

American ranked last in a J.D. Power’s North American airline customer satisfaction ranking this year. The carrier has also been working to undo damage from a failed business-travel sales strategy.

And American, which branded itself the “on-time machine” in the 1980s, in the first half of this year ranked ninth out of 10 airlines for on-time arrivals, according to the Department of Transportation.

The airline is trying to change all of that and uplift its brand after strategy errors, some skittishness about spending, and at times being late to capitalize on industry trends, like travelers’ willingness to pay up to sit in bigger seats, according to current and former executives and industry watchers.

To make that happen, CEO Robert Isom will have to rally American’s more than 130,000 employees around the airline’s plans and win over both customers and investors. American’s stock is down 20% this year through Friday’s close, compared with modest gains posted by Delta and United.

Last week, however, some investors noticed a change within American, whose fourth-quarter profit forecast surpassed Wall Street analysts’ expectations. Shares rose more than 16%, their biggest weekly percentage gain in almost a year.

“You’re going to have a three-month period where you have to be crystal clear on your story,” said Melius Research airline analyst Conor Cunningham, referring to the airline’s leaders.

The bigger changes are going to take time and money.

“American hasn’t been paying attention to the customer for the longest time,” said Henry Harteveldt, founder of the Atmosphere Research Group travel consulting firm. “I believe there is the beginning of a meaningful turnaround … but a large airline like American is not going to be turned around overnight.”

American has tasked Heather Garboden — who has worked for more than two decades at American and US Airways, including roles in the cargo and finance departments, and now is chief customer officer — with…