Debt

6 Months Ended

Jun. 30, 2019

Long-term debt included in the condensed consolidated balance sheets consisted of (in millions):



	June 30, 2019		December 31, 2018
Secured
2013 Credit Facilities, variable interest rate of 4.06%, installments through 2025	$	1,807	$	1,825
2014 Credit Facilities, variable interest rate of 4.41%, installments through 2021	1,215		1,215
April 2016 Credit Facilities, variable interest rate of 4.40%, installments through 2023	970		980
December 2016 Credit Facilities, variable interest rate of 4.39%, installments through 2023	1,225		1,225
Enhanced equipment trust certificates (EETCs), fixed interest rates ranging from 3.00% to 8.39%, averaging 4.14%, maturing from 2019 to 2029	11,448		11,648
Equipment loans and other notes payable, fixed and variable interest rates ranging from 3.43% to 7.31%, averaging 4.06%, maturing from 2019 to 2031	5,392		5,060
Special facility revenue bonds, fixed interest rates ranging from 5.00% to 8.00%, maturing from 2019 to 2031	798		798
	22,855		22,751
Unsecured
5.50% senior notes, interest only payments until due in October 2019	750		750
4.625% senior notes, interest only payments until due in March 2020	500		500
5.000% senior notes, interest only payments until due in June 2022	750		—
	2,000		1,250
Total long-term debt	24,855		24,001
Less: Total unamortized debt discount, premium and issuance costs	216		222
Less: Current maturities	3,417		3,213
Long-term debt, net of current maturities	$	21,222	$	20,566

The table below shows the maximum availability under revolving credit facilities, all of which were undrawn, as of June 30, 2019 (in millions):



2013 Revolving Facility	$	1,000
2014 Revolving Facility	1,543
April 2016 Revolving Facility	300
Total	$	2,843

The December 2016 Credit Facilities provide for a revolving credit facility that may be established thereunder in the future.

2019 Financing Activities

2019-1 Spare Engine Enhanced Equipment Trust Certificates

In June 2019, American created pass-through trusts which issued $650 million in aggregate face amount of 2019-1 Engine EETCs (the 2019-1 Engine EETCs), with maturities from June 2022 to June 2026. All of the proceeds received by such pass-through trusts from the sale of the 2019-1 Engine EETCs have been used to acquire equipment notes issued by American to the pass-through trusts. The pass-through trust certificates represent the right to payment under the equipment notes that are full-recourse obligations of American and such equipment notes are secured by spare aircraft engines currently owned and operated by American.

Equipment Notes Issued in 2019

In the first six months of 2019, American entered into agreements under which it borrowed $1.1 billion in connection with the financing or refinancing, as the case may be, of certain aircraft, of which $464 million was used to repay existing indebtedness. Debt incurred under these agreements matures in 2024 through 2031 and bears interest at variable rates (comprised of LIBOR plus an applicable margin) averaging 3.86% at June 30, 2019.

5.000% Senior Notes

In May 2019, AAG issued $750 million aggregate principal amount of 5.000% senior notes due 2022 (the 5.000% senior notes). These notes bear interest at a rate of 5.000% per annum, payable semi-annually in arrears on June 1 and December 1 of each year, beginning on December 1, 2019. The 5.000% senior notes are senior unsecured obligations of AAG. The 5.000% senior notes mature on June 1, 2022 and are fully and unconditionally guaranteed by American. The indenture for the 5.000% senior notes contains covenants and events of default generally customary for similar financings. In addition, if AAG experiences a specified change of control, AAG must offer to repurchase the 5.000% senior notes in whole or in part at a repurchase price of 101% of the aggregate principal amount plus accrued and unpaid interest, if any, to (but not including) the repurchase date. Upon the occurrence of certain events of default, the 5.000% senior notes may be accelerated and become due and payable immediately.

American Airlines, Inc. [Member]

Debt Instrument [Line Items]

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