American Airlines posted the highest quarterly revenue in its history, and a $2.2bn fuel bill held earnings to 11 cents a share

American Airlines took in more revenue last quarter than in any quarter in its history, and most of it went to fuel.

Revenue was $16.7bn, up 16.3 percent from a year earlier. The carrier said the gain came across all four of its commercial pillars, with premium passenger unit revenue up 13.4 percent and Main Cabin unit revenue up 8.8 percent. Then the fuel line. Expense there rose by more than $2.2bn, an 83 percent jump, and American said fares recovered close to half of it.

What was left was thin. GAAP net income was $71m, or $0.11 a diluted share. On an adjusted basis the company earned $99m, or $0.15.

The pressure does not lift with the quarter. Working from the forward fuel curve as of July 21, American told investors it expects third-quarter fuel expense to run about $1.7bn above a year ago. Chief Executive Robert Isom said revenue grew across every entity and cabin, and framed the fares strategy as the way through a fuel environment he called volatile.