Debt (Tables)

12 Months Ended

Dec. 31, 2023

Debt Instrument [Line Items]

Schedule of Long-Term Debt

Long-term debt included on our consolidated balance sheets consisted of (in millions):

	December 31,
	2023		2022
Secured
2013 Term Loan Facility, variable interest rate of 8.60%, installments through February 2028 (a)	$	990	$	1,752
2014 Term Loan Facility, variable interest rate of 7.32%, installments through January 2027 (a)	1,183		1,196
2023 Term Loan Facility, variable interest rate of 8.87%, installments beginning in December 2024 through June 2029 (a)	1,100		—
11.75% senior secured notes, interest only payments until due in July 2025 (b)	—		2,500
10.75% senior secured IP notes, interest only payments until due in February 2026 (b)	1,000		1,000
10.75% senior secured LGA/DCA notes, interest only payments until due in February 2026 (b)	200		200
7.25% senior secured notes, interest only payments until due in February 2028 (b)	750		—
8.50% senior secured notes, interest only payments until due in May 2029 (b)	1,000		—
5.50% senior secured notes, installments through April 2026 (c)	2,917		3,500
5.75% senior secured notes, installments beginning in July 2026 until due in April 2029 (c)	3,000		3,000
AAdvantage Term Loan Facility, variable interest rate of 10.43%, installments through April 2028 (c)	3,150		3,500
Enhanced equipment trust certificates (EETCs), fixed interest rates ranging from 2.88% to 5.90%, averaging 3.60%, maturing from 2024 to 2034	7,657		9,175
Equipment loans and other notes payable, fixed and variable interest rates ranging from 2.55% to 8.90%, averaging 6.98%, maturing from 2024 to 2035 (d)	3,612		3,170
Special facility revenue bonds, fixed interest rates ranging from 2.25% to 5.38%, maturing from 2026 to 2036	967		1,050
	27,526		30,043
Unsecured
PSP1 Promissory Note, interest only payments until due in April 2030 (e)	1,757		1,757
PSP2 Promissory Note, interest only payments until due in January 2031 (e)	1,030		1,030
PSP3 Promissory Note, interest only payments until due in April 2031 (e)	959		959
6.50% convertible senior notes, interest only payments until due in July 2025 (f)	1,000		1,000
3.75% senior notes, interest only payments until due in March 2025 (g)	487		500
	5,233		5,246
Total long-term debt	32,759		35,289
Less: Total unamortized debt discount, premium and issuance costs	363		386
Less: Current maturities	3,501		3,059
Long-term debt, net of current maturities	$	28,895	$	31,844

Schedule of Credit Facilities

As of December 31, 2023, the maximum availability under our revolving credit and other facilities is as follows (in millions):

2013 Revolving Facility	$	736
2014 Revolving Facility	1,631
April 2016 Revolving Facility	446
Other short-term facility	49
Total	$	2,862

Schedule of Maturities of Long-Term Debt and Capital Lease Obligations

At December 31, 2023, the maturities of long-term debt are as follows (in millions):

2024	$	3,501
2025	5,189
2026	4,582
2027	4,618
2028	5,060
2029 and thereafter	9,809
Total	$	32,759

Schedule of Convertible Debt

The following table provides information relating to the Convertible Notes as of December 31, 2023 and 2022 (in millions):

	December 31,
	2023		2022
Principal amount	$	1,000	$	1,000
Unamortized debt discount	(10)		(16)
Net carrying amount	$	990	$	984

Interest recognized for the Convertible Notes is as follows (in millions):

	Year Ended December 31,
	2023		2022		2021
Contractual coupon interest	$	65	$	65	$	65
Non-cash amortization of debt discount	6		6		5
Total interest expense	$	71	$	71	$	70

Schedule of Collateral Coverage Tests

Specifically, we are required to meet certain collateral coverage tests for our Credit Facilities, April 2016 Revolving Facility, 2023 Term Loan Facility, 7.25% Senior Secured Notes, 8.50% Senior Secured Notes and 10.75% Senior Secured Notes, as described below:

	2013 Credit  Facilities	7.25% Senior Secured Notes	2014 Credit  Facilities	April 2016 Revolving Facility	2023 Term Loan Facility	8.50% Senior Secured Notes	10.75% Senior Secured Notes
LTV Requirement	1.6x Collateral valuation to amount of debt outstanding (62.5% LTV)
LTV as of Last Measurement Date	34.2%		16.4%	Not Applicable	25.9%		6.9%
Frequency of Appraisals of Appraised Collateral	Semi-Annual						Annual
Collateral Description	Generally, certain slots, route authorities and airport gate leasehold rights used by American to operate certain services between the U.S. and South America and New Zealand		Generally, certain slots, route authorities and airport gate leasehold rights used by American to operate certain services between the U.S. and European Union (including London Heathrow)	Generally, certain spare parts	Generally, certain slots, route authorities and airport gate leasehold rights used by American to operate certain services between the U.S. and Australia, Canada, the Caribbean, Central America, China, Hong Kong, Japan, Mexico, South Korea and Switzerland		Generally, certain DCA slots, certain LGA slots, certain simulators and certain leasehold rights and, in the case of the IP Notes, certain intellectual property of American

American Airlines, Inc.

Debt Instrument [Line Items]

Schedule of Long-Term Debt

Long-term debt included on American’s consolidated balance sheets consisted of (in millions):

	December 31,
	2023		2022
Secured
2013 Term Loan Facility, variable interest rate of 8.60%, installments through February 2028 (a)	$	990	$	1,752
2014 Term Loan Facility, variable interest rate of 7.32%, installments through January 2027 (a)	1,183		1,196
2023 Term Loan Facility, variable interest rate of 8.87%, installments beginning in December 2024 through June 2029 (a)	1,100		—
11.75% senior secured notes, interest only payments until due in July 2025 (b)	—		2,500
10.75% senior secured IP notes, interest only payments until due in February 2026 (b)	1,000		1,000
10.75% senior secured LGA/DCA notes, interest only payments until due in February 2026 (b)	200		200
7.25% senior secured notes, interest only payments until due in February 2028 (b)	750		—
8.50% senior secured notes, interest only payments until due in May 2029 (b)	1,000		—
5.50% senior secured notes, installments through April 2026 (c)	2,917		3,500
5.75% senior secured notes, installments beginning in July 2026 until due in April 2029 (c)	3,000		3,000
AAdvantage Term Loan Facility, variable interest rate of 10.43%, installments through April 2028 (c)	3,150		3,500
Enhanced equipment trust certificates (EETCs), fixed interest rates ranging from 2.88% to 5.90%, averaging 3.60%, maturing from 2024 to 2034	7,657		9,175
Equipment loans and other notes payable, fixed and variable interest rates ranging from 2.55% to 8.90%, averaging 6.98%, maturing from 2024 to 2035 (d)	3,612		3,170
Special facility revenue bonds, fixed interest rates ranging from 2.25% to 5.38%, maturing from 2026 to 2036	967		1,050
Total long-term debt	27,526		30,043
Less: Total unamortized debt discount, premium and issuance costs	349		364
Less: Current maturities	3,501		3,059
Long-term debt, net of current maturities	$	23,676	$	26,620

Schedule of Credit Facilities

As of December 31, 2023, the maximum availability under American’s revolving credit and other facilities is as follows (in millions):

2013 Revolving Facility	$	736
2014 Revolving Facility	1,631
April 2016 Revolving Facility	446
Other short-term facility	49
Total	$	2,862

Schedule of Maturities of Long-Term Debt and Capital Lease Obligations

At December 31, 2023, the maturities of long-term debt are as follows (in millions):

2024	$	3,501
2025	3,702
2026	4,582
2027	4,618
2028	5,060
2029 and thereafter	6,063
Total	$	27,526

Schedule of Collateral Coverage Tests

Specifically, American is required to meet certain collateral coverage tests for its Credit Facilities, April 2016 Revolving Facility, 2023 Term Loan Facility, 7.25% Senior Secured Notes, 8.50% Senior Secured Notes and 10.75% Senior Secured Notes, as described below:

	2013 Credit Facilities	7.25% Senior Secured Notes	2014 Credit Facilities	April 2016 Revolving Facility	2023 Term Loan Facility	8.50% Senior Secured Notes	10.75% Senior Secured Notes
LTV Requirement	1.6x Collateral valuation to amount of debt outstanding (62.5% LTV)
LTV as of Last Measurement Date	34.2%		16.4%	Not Applicable	25.9%		6.9%
Frequency of Appraisals of Appraised Collateral	Semi-Annual						Annual
Collateral Description	Generally, certain slots, route authorities and airport gate leasehold rights used by American to operate certain services between the U.S. and South America and New Zealand		Generally, certain slots, route authorities and airport gate leasehold rights used by American to operate certain services between the U.S. and European Union (including London Heathrow)	Generally, certain spare parts	Generally, certain slots, route authorities and airport gate leasehold rights used by American to operate certain services between the U.S. and Australia, Canada, the Caribbean, Central America, China, Hong Kong, Japan, Mexico, South Korea and Switzerland		Generally, certain DCA slots, certain LGA slots, certain simulators and certain leasehold rights and, in the case of the IP Notes, certain intellectual property of American