Debt (Tables)
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3 Months Ended |
Mar. 31, 2026 |
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| Debt Instrument [Line Items] |
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| Schedule of Debt |
Debt included in the condensed consolidated balance sheets consisted of (in millions): | | | | | | | | | | | | | March 31, 2026 | | December 31, 2025 | | Secured | | | | 2013 Term Loan Facility, variable interest rate of 6.00%, installments until due in February 2028 | $ | 970 | | | $ | 970 | | 2014 Term Loan Facility, variable interest rate of 5.52%, installments until due in January 2027 | 1,147 | | | 1,159 | | 2023 Term Loan Facility, variable interest rate of 5.91%, installments until due in June 2029 | 1,078 | | | 1,078 | | | | | | | | | | 7.25% senior secured notes, interest only payments until due in February 2028 | 750 | | | 750 | | 8.50% senior secured notes | — | | | 1,000 | | 5.50% senior secured notes, installments until due in April 2026 (1) | 292 | | | 583 | | 5.75% senior secured notes, installments beginning in July 2026 until due in April 2029 (1) | 3,000 | | | 3,000 | | 2021 AAdvantage Term Loan Facility, variable interest rate of 5.92%, installments until due in April 2028 (1) | 2,258 | | | 2,264 | | 2025 AAdvantage Term Loan Facility, variable interest rate of 6.42%, installments until due in May 2032 (1) | 993 | | | 995 | | Enhanced equipment trust certificates (EETCs), fixed interest rates ranging from 2.88% to 7.15%, averaging 4.15%, maturing from 2026 to 2038 | 7,755 | | | 6,912 | | Equipment loans and other notes payable, fixed and variable interest rates ranging from 2.55% to 6.29%, averaging 5.45%, maturing from 2027 to 2037 | 4,527 | | | 4,719 | | Special facility revenue bonds, fixed interest rates ranging from 2.25% to 5.38%, maturing from 2026 to 2036 | 789 | | | 789 | | | 23,559 | | | 24,219 | | | Unsecured | | | | PSP1 Promissory Note, variable interest rate of 5.57%, interest only payments until due in April 2030 | 1,757 | | | 1,757 | | PSP2 Promissory Note, variable interest rate of 5.57%, interest only payments until due in January 2031 | 1,030 | | | 1,030 | | PSP3 Promissory Note, interest only payments until due in April 2031 (2) | 959 | | | 959 | | | Senior short-term term loan facility | — | | | 629 | | | 3,746 | | | 4,375 | | | Total | 27,305 | | | 28,594 | | | Less: Total unamortized debt discount, premium and issuance costs | 288 | | | 314 | | | Less: Current maturities | 4,083 | | | 3,641 | | | Long-term debt, net of current maturities | $ | 22,934 | | | $ | 24,639 | |
(1)Collectively referred to as the AAdvantage Financing. (2)The PSP3 Promissory Note bears interest at a fixed interest rate of 1.00% until the second quarter of 2026. Thereafter, the note bears interest at 2.00% plus an interest rate based on the Secured Overnight Financing Rate (SOFR).
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| Schedule of Revolving Credit and Other Facilities |
As of March 31, 2026, the maximum availability under our revolving credit and other facilities is as follows (in millions): | | | | | | | 2013 Revolving Facility | $ | 363 | | | 2014 Revolving Facility | 1,296 | | | 2023 Revolving Facility | 1,451 | | Other facilities (1) | 400 | | | Total | $ | 3,510 | |
(1)Includes a revolving credit facility that provides for borrowing capacity of up to $350 million. In March 2026, American elected to exercise its option to extend the maturity date of the revolving credit facility by an additional year to March 2028. Additionally, American currently has $50 million of available borrowing capacity under a cargo receivables facility that is scheduled to expire in December 2026. There are no amounts drawn under these facilities.
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| 2025-1 Aircraft EETC Equipment Notes |
Certain information regarding the 2025-1 Aircraft EETC equipment notes, as of March 31, 2026, is set forth in the table below: | | | | | | | | | | | | | | 2025-1 Aircraft EETCs | | | Series A | | Series B | | Aggregate principal issued | $884 million | | $221 million | | Fixed interest rate per annum | 4.90% | | 5.65% | | Maturity date | May 2038 | | November 2034 |
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| American Airlines, Inc. |
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| Debt Instrument [Line Items] |
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| Schedule of Debt |
Debt included in the condensed consolidated balance sheets consisted of (in millions): | | | | | | | | | | | | | March 31, 2026 | | December 31, 2025 | | Secured | | | | 2013 Term Loan Facility, variable interest rate of 6.00%, installments until due in February 2028 | $ | 970 | | | $ | 970 | | 2014 Term Loan Facility, variable interest rate of 5.52%, installments until due in January 2027 | 1,147 | | | 1,159 | | 2023 Term Loan Facility, variable interest rate of 5.91%, installments until due in June 2029 | 1,078 | | | 1,078 | | | | | | | | | | 7.25% senior secured notes, interest only payments until due in February 2028 | 750 | | | 750 | | 8.50% senior secured notes | — | | | 1,000 | | 5.50% senior secured notes, installments until due in April 2026 (1) | 292 | | | 583 | | 5.75% senior secured notes, installments beginning in July 2026 until due in April 2029 (1) | 3,000 | | | 3,000 | | 2021 AAdvantage Term Loan Facility, variable interest rate of 5.92%, installments until due in April 2028 (1) | 2,258 | | | 2,264 | | 2025 AAdvantage Term Loan Facility, variable interest rate of 6.42%, installments until due in May 2032 (1) | 993 | | | 995 | | Enhanced equipment trust certificates (EETCs), fixed interest rates ranging from 2.88% to 7.15%, averaging 4.15%, maturing from 2026 to 2038 | 7,755 | | | 6,912 | | Equipment loans and other notes payable, fixed and variable interest rates ranging from 2.55% to 6.29%, averaging 5.45%, maturing from 2027 to 2037 | 4,527 | | | 4,719 | | Special facility revenue bonds, fixed interest rates ranging from 2.25% to 5.38%, maturing from 2026 to 2036 | 789 | | | 789 | | | 23,559 | | | 24,219 | | | Unsecured | | | | | Senior short-term term loan facility | — | | | 629 | | | Total | 23,559 | | | 24,848 | | | Less: Total unamortized debt discount, premium and issuance costs | 286 | | | 313 | | | Less: Current maturities | 4,083 | | | 3,641 | | | Long-term debt, net of current maturities | $ | 19,190 | | | $ | 20,894 | |
(1)Collectively referred to as the AAdvantage Financing.
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| Schedule of Revolving Credit and Other Facilities |
As of March 31, 2026, the maximum availability under American’s revolving credit and other facilities is as follows (in millions): | | | | | | | 2013 Revolving Facility | $ | 363 | | | 2014 Revolving Facility | 1,296 | | | 2023 Revolving Facility | 1,451 | | Other facilities (1) | 400 | | | Total | $ | 3,510 | |
(1)Includes a revolving credit facility that provides for borrowing capacity of up to $350 million. In March 2026, American elected to exercise its option to extend the maturity date of the revolving credit facility by an additional year to March 2028. Additionally, American currently has $50 million of available borrowing capacity under a cargo receivables facility that is scheduled to expire in December 2026. There are no amounts drawn under these facilities.
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| 2025-1 Aircraft EETC Equipment Notes |
Certain information regarding the 2025-1 Aircraft EETC equipment notes, as of March 31, 2026, is set forth in the table below: | | | | | | | | | | | | | | 2025-1 Aircraft EETCs | | | Series A | | Series B | | Aggregate principal issued | $884 million | | $221 million | | Fixed interest rate per annum | 4.90% | | 5.65% | | Maturity date | May 2038 | | November 2034 |
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