AAG - EX 12.1 - 2014.3.31

EX-12.1 7 aag-ex121x2014331.htm EXHIBIT AAG - EX 12.1 - 2014.3.31

Exhibit 12.1

American Airlines Group Inc.

Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Dividends

(In millions)



	Three Months Ended March 31,
	2014				2013
Income (loss) before income taxes	$	493			$	(363	)
Add: Total fixed charges (per below)	504				519
Less: Interest capitalized	13				12
Total earnings before income taxes	984				144
Fixed charges:
Interest ⁽¹⁾	256				266
Portion of rental expense representative of the interest factor	248				253
Total fixed charges	504				519
Ratio of earnings to fixed charges	1.95				—
Coverage deficiency	$	—			$	375


⁽¹⁾	The three months ended March 31, 2014 includes non-cash interest accretion related to outstanding Mandatorily Convertible Preferred Stock and Other Bankruptcy Settlement Obligations.