During the three months from July to September, the carrier, which is the world's largest, achieved a net profit of $1.7bn (£1.1bn) – an 80 per cent increase from the equivalent period last year, when it earned $942m.
Excluding net charges, earnings for the three-month period amounted to $1.9bn, which was the highest quarterly profit in the company's history.
This amounts to a gain of $2.49 per diluted share for investors in the company. American Airlines put the change down to the falling price of oil, which has lost about half its value since mid-2016. The company's fuel costs fell to $1.6bn for the quarter – a 44 per cent decline from 2014.
The company's revenue actually decreased by 3.9 per cent compared to the previous year to $10.7bn, but this was more than counteracted by an 11.9 per cent fall in overall operating expenses.
An additional $2bn share buyback was also announced along with the results, due to be completed by the end of next year. This follows on from the $1.56bn repurchase it carried out over the last three months.
Shares in the company initially went up 3.8 per cent in pre-market trading in the US, and are currently still up 3.5 per cent.