v3.26.3
Investments
 9 Months Ended
Sep. 30, 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 income (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 TreatmentSeptember 30, 2026December 31, 2025September 30, 2026December 31, 2025
Republic Holdings (1)
Equity Method20.8%20.8%$187 $254 
China Southern AirlinesFair Value1.5%1.5%104 203 
Other investments (2)
Various117 146 
Total$408 $603 
(1)In the third quarter of 2026, we determined that the decline in the fair value of our equity method investment in Republic Holdings was other-than-temporary. Accordingly, we recorded a $78 million nonoperating special charge for the impairment of our equity investment in Republic Holdings and reduced the carrying value to the estimated fair value using quoted market prices.
(2)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 income (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 TreatmentSeptember 30, 2026December 31, 2025September 30, 2026December 31, 2025
Republic Holdings (1)
Equity Method20.8%20.8%$187 $254 
China Southern AirlinesFair Value1.5%1.5%104 203 
Other investments (2)
Various117 146 
Total$408 $603 
(1)In the third quarter of 2026, American determined that the decline in the fair value of its equity method investment in Republic Holdings was other-than-temporary. Accordingly, American recorded a $78 million nonoperating special charge for the impairment of its equity investment in Republic Holdings and reduced the carrying value to the estimated fair value using quoted market prices.
(2)Primarily includes American’s investment in JetSMART Holdings Limited, which is accounted for under the equity method.