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Pay vs Performance Disclosure
 12 Months Ended
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
Pay Versus Performance
In accordance with SEC rules, the table below sets forth additional information concerning the compensation of each individual who served as our Chief Executive Officer (“CEO”) and our other
(“non-CEO”)
named executive officers (“NEOs”) for each of the fiscal years ended December 31, 2023, 2022, 2021 and 2020, and our financial and total stockholder return (“TSR”) performance for each such fiscal year. Mr. Isom served as our CEO during 2023 and a part of 2022 and Mr. Parker served as our CEO during a part of 2022 and all of 2021 and 2020.
The COVID-19 pandemic was the most challenging time in our industry’s history. It resulted in drastic disruptions in global demand for air travel and a severe decline in our business. Despite these challenges, we remained consistent in our approach and philosophy that our executive compensation programs provide both fair pay and
pay-for-performance
and align with the interests of stockholders. In 2023, we produced exceptionally strong performance, including:
 
 
•
  
Achieved record 2023 revenue of approximately $53 billion, an increase of more than $22 billion compared to 2021
 
 
•
  
Reversed our GAAP pre-tax loss in 2021 of over $2.5 billion and produced GAAP pre-tax income of $186 million in 2022 and GAAP pre-tax income of more than $1.1 billion in 2023
 
 
•
  
Excluding
pre-tax
net special items,
(1)
reversed our
pre-tax
loss in 2021 of nearly $7 billion and produced
pre-tax
income of $458 million in 2022, and nearly $2.5 billion in 2023
 
(1)
See Appendix B for details on the components of
pre-tax
net special items and for a reconciliation of
pre-tax
income (loss) excluding net special items, a
non-GAAP
measure.
Pay Versus Performance Table
 
                           
Value of Initial Fixed $100
Investment Based on:
        
Year
  
Summary
Compensation
Table Total:
Mr. Isom
($)
(1)
  
CAP:
Mr. Isom
($)
(2)
  
Summary
Compensation
Table Total:
Mr. Parker
($)
(1)
  
CAP:
Mr. Parker
($)
(2)
  
Average
Summary
Compensation
Table Total for
Non-CEO

NEOs ($)
(1)
  
Average
CAP:
Non-CEO

NEOs ($)
(2)
  
AAG Total
Stockholder
Return
($)
(3)
  
Peer Group
Total
Stockholder
Return
($)
(3)
 
Net
Income
(Loss)
($) (in
millions)
  
Adjusted
Pre-Tax

Margin
%
(4)
2023
    
 
31,438,162
    
 
33,817,502
    
 
-
    
 
-
    
 
9,530,121
    
 
9,827,888
    
 
48.08
    
 
61.60
    
 
822
    
 
4.7
%
2022
    
 
4,886,649
    
 
3,507,095
    
 
6,537,694
    
 
3,881,181
    
 
3,400,714
    
 
2,422,634
    
 
44.52
    
 
48.04
    
 
127
    
 
0.9
%
2021
    
 
-
    
 
-
    
 
7,238,011
    
 
8,128,613
    
 
3,892,813
    
 
4,197,060
    
 
62.85
    
 
74.23
    
 
(1,993
)
    
 
(23.2
%)
2020
    
 
-
    
 
-
    
 
10,663,866
    
 
(614,164
)
    
 
4,245,970
    
 
736,998
    
 
55.19
    
 
75.55
    
 
(8,885
)
    
 
(70.7
%)
 
(1)
Amounts reported in these columns represent the total compensation as reported in the Summary Compensation Table for Messrs.
Isom
and Parker for each year where they served as CEO and the average of the total compensation as reported in the Summary Compensation Table for our remaining NEOs for the relevant fiscal year, which captures the individuals indicated in the table below for each fiscal year:
 
  Year
   
CEO
   
Non-CEO
NEOs
2023
   
Robert Isom
   
Steve Johnson, Priya Aiyar, Devon May and Vasu Raja
2022
   
Robert Isom and Doug Parker
   
Derek Kerr, Steve Johnson, Maya Leibman and David Seymour
2021
   
Doug Parker
   
Robert Isom, Derek Kerr, Steve Johnson and Maya Leibman
2020
   
Doug Parker
   
Robert Isom, Derek Kerr, Steve Johnson and Maya Leibman
 
(2)
Compensation Actually Paid (“CAP”) to Mr. Isom and the remaining NEOs for 2023 reflects the following adjustments from total compensation reported in the Summary Compensation Table:
 
 
 
   
2023
  
  Adjustments
  
Mr. Isom ($)
    
Average
Non-CEO

NEOs ($)
  
Deduction for amounts reported under the “Stock Awards” column of Summary Compensation Table for Fiscal Year 2023 (“FY23”)
  
 
(19,500,000
) 
  
 
(3,895,000
) 
Year-end
Fair Value of Equity Awards Granted in FY23
  
 
20,515,276
 
  
 
3,842,580
 
Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Years
  
 
610,517
 
  
 
167,907
 
Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the FY23 based on change from Prior
Year-end
to Vesting Date
  
 
753,546
 
  
 
182,279
 
Total Adjustments
  
 
2,379,339
 
  
 
297,766
 
 
 
Fair value or change in fair value, as applicable, of equity awards in the Compensation Actually Paid columns was determined by reference to (1) for time-based RSU awards, the closing price of a share of our Common Stock on the applicable
year-end
date(s) or, in the case of vesting dates, the closing price of a share of our Common Stock on the applicable vesting dates, and (2) for performance-based RSU awards, the same valuation methodology as time-based RSU awards except
year-end
values are multiplied by a factor reflecting achievement of the probable outcome of the applicable performance conditions as of the measurement date (which as of December 31, 2023 was 160% for the 2022 grants and 100% for the 2023 grants).
 
(3)
Pursuant to the SEC rules, TSR reflects an initial investment of $100 on December 31, 2019, and that all dividends, if any, were reinvested. The Peer Group Total Stockholder Return represents the cumulative TSR of the ARCA Airline Index (the “Peer Group TSR”).
 
(4)
Adjusted
pre-tax
margin is a
non-GAAP
measure and excludes net special items. See Appendix B for a reconciliation of
pre-tax
margin excluding net special items, a
non-GAAP
measure.
     
Company Selected Measure Name Adjusted Pre-Tax Margin      
Named Executive Officers, Footnote
(1)
Amounts reported in these columns represent the total compensation as reported in the Summary Compensation Table for Messrs.
Isom
and Parker for each year where they served as CEO and the average of the total compensation as reported in the Summary Compensation Table for our remaining NEOs for the relevant fiscal year, which captures the individuals indicated in the table below for each fiscal year:
 
  Year
   
CEO
   
Non-CEO
NEOs
2023
   
Robert Isom
   
Steve Johnson, Priya Aiyar, Devon May and Vasu Raja
2022
   
Robert Isom and Doug Parker
   
Derek Kerr, Steve Johnson, Maya Leibman and David Seymour
2021
   
Doug Parker
   
Robert Isom, Derek Kerr, Steve Johnson and Maya Leibman
2020
   
Doug Parker
   
Robert Isom, Derek Kerr, Steve Johnson and Maya Leibman
      
Peer Group Issuers, Footnote Pursuant to the SEC rules, TSR reflects an initial investment of $100 on December 31, 2019, and that all dividends, if any, were reinvested. The Peer Group Total Stockholder Return represents the cumulative TSR of the ARCA Airline Index (the “Peer Group TSR”).      
Adjustment To PEO Compensation, Footnote
(2)
Compensation Actually Paid (“CAP”) to Mr. Isom and the remaining NEOs for 2023 reflects the following adjustments from total compensation reported in the Summary Compensation Table:
 
 
 
   
2023
  
  Adjustments
  
Mr. Isom ($)
    
Average
Non-CEO

NEOs ($)
  
Deduction for amounts reported under the “Stock Awards” column of Summary Compensation Table for Fiscal Year 2023 (“FY23”)
  
 
(19,500,000
) 
  
 
(3,895,000
) 
Year-end
Fair Value of Equity Awards Granted in FY23
  
 
20,515,276
 
  
 
3,842,580
 
Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Years
  
 
610,517
 
  
 
167,907
 
Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the FY23 based on change from Prior
Year-end
to Vesting Date
  
 
753,546
 
  
 
182,279
 
Total Adjustments
  
 
2,379,339
 
  
 
297,766
 
      
Non-PEO NEO Average Total Compensation Amount $ 9,530,121 $ 3,400,714 $ 3,892,813 $ 4,245,970
Non-PEO NEO Average Compensation Actually Paid Amount $ 9,827,888 2,422,634 4,197,060 736,998
Adjustment to Non-PEO NEO Compensation Footnote
(2)
Compensation Actually Paid (“CAP”) to Mr. Isom and the remaining NEOs for 2023 reflects the following adjustments from total compensation reported in the Summary Compensation Table:
 
 
 
   
2023
  
  Adjustments
  
Mr. Isom ($)
    
Average
Non-CEO

NEOs ($)
  
Deduction for amounts reported under the “Stock Awards” column of Summary Compensation Table for Fiscal Year 2023 (“FY23”)
  
 
(19,500,000
) 
  
 
(3,895,000
) 
Year-end
Fair Value of Equity Awards Granted in FY23
  
 
20,515,276
 
  
 
3,842,580
 
Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Years
  
 
610,517
 
  
 
167,907
 
Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the FY23 based on change from Prior
Year-end
to Vesting Date
  
 
753,546
 
  
 
182,279
 
Total Adjustments
  
 
2,379,339
 
  
 
297,766
 
      
Compensation Actually Paid vs. Total Shareholder Return
LOGO
     
Compensation Actually Paid vs. Net Income
LOGO
     
Compensation Actually Paid vs. Company Selected Measure
LOGO
     
Total Shareholder Return Vs Peer Group
LOGO
     
Tabular List, Table
Pay Versus Performance Tabular List
We believe the following performance measures represent the most important financial performance measures used by us to
link
compensation actually paid to our named executive officers for 2023:
 
 
•
  
Stock price/total stockholder return;
 
 
•
  
Adjusted
pre-tax
margin;
 
 
•
  
Total debt reduction;
 
 
•
  
Adjusted
pre-tax
income;
 
 
•
  
Mainline and regional
on-time
departures
 
 
•
  
Mainline and regional controllable completion factor; and
 
 
•
  
Measures related to diversity, equity and inclusion.
     
Total Shareholder Return Amount $ 48.08 44.52 62.85 55.19
Peer Group Total Shareholder Return Amount 61.6 48.04 74.23 75.55
Net Income (Loss) $ 822,000,000 $ 127,000,000 $ (1,993,000,000) $ (8,885,000,000)
Company Selected Measure Amount 0.047 0.009 (0.232) (0.707)
PEO Name Robert Isom Robert Isom and Doug Parker Doug Parker Doug Parker
Measure:: 1        
Pay vs Performance Disclosure        
Name Stock price/total stockholder return      
Measure:: 2        
Pay vs Performance Disclosure        
Name Adjusted pre-tax margin      
Non-GAAP Measure Description Adjusted
pre-tax
margin is a
non-GAAP
measure and excludes net special items. See Appendix B for a reconciliation of
pre-tax
margin excluding net special items, a
non-GAAP
measure. 		     
Measure:: 3        
Pay vs Performance Disclosure        
Name Total debt reduction      
Measure:: 4        
Pay vs Performance Disclosure        
Name Adjusted pre-tax income      
Measure:: 5        
Pay vs Performance Disclosure        
Name Mainline and regional on-time departures      
Measure:: 6        
Pay vs Performance Disclosure        
Name Mainline and regional controllable completion factor; and      
Measure:: 7        
Pay vs Performance Disclosure        
Name Measures related to diversity, equity and inclusion      
Isom [Member]        
Pay vs Performance Disclosure        
PEO Total Compensation Amount $ 31,438,162 $ 4,886,649 $ 0 $ 0
PEO Actually Paid Compensation Amount 33,817,502 3,507,095 0 0
Parker [Member]        
Pay vs Performance Disclosure        
PEO Total Compensation Amount 0 6,537,694 7,238,011 10,663,866
PEO Actually Paid Compensation Amount 0 $ 3,881,181 $ 8,128,613 $ (614,164)
PEO | Isom [Member] | Deduction For Amounts Reported Under The Stock Awards Column Of Summary Compensation Table For Fiscal Year 2023 [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (19,500,000)      
PEO | Isom [Member] | YearEnd Fair Value Of Equity Awards Granted In Each Fy23 [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 20,515,276      
PEO | Isom [Member] | Year Over Year Change In Fair Value Of Outstanding And Unvested Equity Awards Granted In Prior Years [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 610,517      
PEO | Isom [Member] | Change In Fair Value Of Equity Awards Granted In Prior Years That Vested In The Fy23 Based On Change From Prior YearEnd To Vesting Date [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 753,546      
PEO | Isom [Member] | Total Adjustments [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 2,379,339      
Non-PEO NEO | Deduction For Amounts Reported Under The Stock Awards Column Of Summary Compensation Table For Fiscal Year 2023 [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (3,895,000)      
Non-PEO NEO | YearEnd Fair Value Of Equity Awards Granted In Each Fy23 [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 3,842,580      
Non-PEO NEO | Year Over Year Change In Fair Value Of Outstanding And Unvested Equity Awards Granted In Prior Years [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 167,907      
Non-PEO NEO | Change In Fair Value Of Equity Awards Granted In Prior Years That Vested In The Fy23 Based On Change From Prior YearEnd To Vesting Date [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 182,279      
Non-PEO NEO | Total Adjustments [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 297,766