v3.26.1
Investments
 3 Months Ended
Mar. 31, 2026
Schedule of Investments [Line Items]  
Investments Investments
To help expand our network and as part of our ongoing commitment to sustainability, we enter into various commercial relationships or other strategic partnerships, including equity investments, with other airlines and companies. Our equity investments are reflected in other assets on our condensed consolidated balance sheets. Our share of equity method investees’ financial results and changes in fair value are recorded in nonoperating other expense, net on the condensed consolidated statements of operations.
Our equity investment ownership interests and carrying values are as follows:
Ownership InterestCarrying Value (in millions)
Accounting TreatmentMarch 31, 2026December 31, 2025March 31, 2026December 31, 2025
Republic Airways Holdings Inc.Equity Method20.8 %20.8 %$253 $254 
China Southern AirlinesFair Value1.5 %1.5 %135 203 
Other investments (1)
Various144 146 
Total$532 $603 
(1)Primarily includes our investment in JetSMART Holdings Limited, which is accounted for under the equity method.
American Airlines, Inc.  
Schedule of Investments [Line Items]  
Investments Investments
To help expand American’s network and as part of its ongoing commitment to sustainability, American enters into various commercial relationships or other strategic partnerships, including equity investments, with other airlines and companies. American’s equity investments are reflected in other assets on its condensed consolidated balance sheets. American’s share of equity method investees’ financial results and changes in fair value are recorded in nonoperating other expense, net on the condensed consolidated statements of operations.
American’s equity investment ownership interests and carrying values are as follows:
Ownership InterestCarrying Value (in millions)
Accounting TreatmentMarch 31, 2026December 31, 2025March 31, 2026December 31, 2025
Republic Airways Holdings Inc.Equity Method20.8 %20.8 %$253 $254 
China Southern AirlinesFair Value1.5 %1.5 %135 203 
Other investments (1)
Various144 146 
Total$532 $603 
(1)Primarily includes American’s investment in JetSMART Holdings Limited, which is accounted for under the equity method.