Debt (Tables)
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9 Months Ended |
Sep. 30, 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): | | | | | | | | | | | | | September 30, 2026 | | December 31, 2025 | | Secured | | | | 2013 Term Loan Facility, variable interest rate of 5.94%, installments until due in February 2028 | $ | 960 | | | $ | 970 | | 2014 Term Loan Facility, variable interest rate of 6.76%, installments until due in May 2033 | 1,850 | | | 1,159 | | 2023 Term Loan Facility, variable interest rate of 6.09%, 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 (1) | — | | | 583 | | 5.75% senior secured notes, installments until due in April 2029 (1) | 2,750 | | | 3,000 | | 2021 AAdvantage Term Loan Facility, variable interest rate of 5.98%, installments until due in April 2028 (1) | 2,247 | | | 2,264 | | 2025 AAdvantage Term Loan Facility, variable interest rate of 6.48%, installments until due in May 2032 (1) | 988 | | | 995 | | Enhanced equipment trust certificates (EETCs), fixed interest rates ranging from 2.88% to 7.15%, averaging 4.54%, maturing from 2027 to 2039 | 9,332 | | | 6,912 | | Equipment loans and other notes payable, fixed and variable interest rates ranging from 2.55% to 6.76%, averaging 5.65%, maturing from 2027 to 2038 | 4,926 | | | 4,719 | | Special facility revenue bonds, fixed interest rates ranging from 3.00% to 5.38%, maturing from 2031 to 2036 | 694 | | | 789 | | | 25,575 | | | 24,219 | | | Unsecured | | | | PSP1 Promissory Note, variable interest rate of 6.09%, interest only payments until due in April 2030 | 1,757 | | | 1,757 | | PSP2 Promissory Note, variable interest rate of 6.09%, interest only payments until due in January 2031 | 1,030 | | | 1,030 | | PSP3 Promissory Note, variable interest rate of 6.09%, interest only payments until due in April 2031 | 959 | | | 959 | | | Senior short-term term loan facility | — | | | 629 | | | 3,746 | | | 4,375 | | | Total | 29,321 | | | 28,594 | | | Less: Total unamortized debt discount, premium and issuance costs | 346 | | | 314 | | | Less: Current maturities | 3,580 | | | 3,641 | | | Long-term debt, net of current maturities | $ | 25,395 | | | $ | 24,639 | |
(1)Collectively referred to as the AAdvantage Financing.
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| Schedule of Revolving Credit and Other Facilities |
As of September 30, 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. American also 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 September 30, 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 |
Certain information regarding the 2026-1 Aircraft EETC equipment notes, as of September 30, 2026, is set forth in the table below: | | | | | | | | | | | | | 2026-1 Aircraft EETCs | | Series A | | Series B | | Aggregate principal issued | $905 million | | $236 million | | | | | | Fixed interest rate per annum | 5.25% | | 5.75% | | Maturity date | November 2038 | | May 2035 |
Certain information regarding the 2026-2 Aircraft EETC equipment notes, as of September 30, 2026, is set forth in the table below: | | | | | | | | | | | | | 2026-2 Aircraft EETCs | | Series A | | Series B | | Aggregate principal issued | $1.1 billion | | $274 million | | Remaining escrowed proceeds | $502 million | | $131 million | | Fixed interest rate per annum | 5.70% | | 6.30% | | Maturity date | February 2039 | | August 2035 |
Certain information regarding the 2026-2 Aircraft EETC equipment notes, as of September 30, 2026, is set forth in the table below: | | | | | | | | | | | | | 2026-2 Aircraft EETCs | | Series A | | Series B | | Aggregate principal issued | $1.1 billion | | $274 million | | Remaining escrowed proceeds | $502 million | | $131 million | | Fixed interest rate per annum | 5.70% | | 6.30% | | Maturity date | February 2039 | | August 2035 |
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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): | | | | | | | | | | | | | September 30, 2026 | | December 31, 2025 | | Secured | | | | 2013 Term Loan Facility, variable interest rate of 5.94%, installments until due in February 2028 | $ | 960 | | | $ | 970 | | 2014 Term Loan Facility, variable interest rate of 6.76%, installments until due in May 2033 | 1,850 | | | 1,159 | | 2023 Term Loan Facility, variable interest rate of 6.09%, 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 (1) | — | | | 583 | | 5.75% senior secured notes, installments until due in April 2029 (1) | 2,750 | | | 3,000 | | 2021 AAdvantage Term Loan Facility, variable interest rate of 5.98%, installments until due in April 2028 (1) | 2,247 | | | 2,264 | | 2025 AAdvantage Term Loan Facility, variable interest rate of 6.48%, installments until due in May 2032 (1) | 988 | | | 995 | | Enhanced equipment trust certificates (EETCs), fixed interest rates ranging from 2.88% to 7.15%, averaging 4.54%, maturing from 2027 to 2039 | 9,332 | | | 6,912 | | Equipment loans and other notes payable, fixed and variable interest rates ranging from 2.55% to 6.76%, averaging 5.65%, maturing from 2027 to 2038 | 4,926 | | | 4,719 | | Special facility revenue bonds, fixed interest rates ranging from 3.00% to 5.38%, maturing from 2031 to 2036 | 694 | | | 789 | | | 25,575 | | | 24,219 | | | Unsecured | | | | | Senior short-term term loan facility | — | | | 629 | | | Total | 25,575 | | | 24,848 | | | Less: Total unamortized debt discount, premium and issuance costs | 344 | | | 313 | | | Less: Current maturities | 3,580 | | | 3,641 | | | Long-term debt, net of current maturities | $ | 21,651 | | | $ | 20,894 | |
(1)Collectively referred to as the AAdvantage Financing.
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| Schedule of Revolving Credit and Other Facilities |
As of September 30, 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. American also 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 September 30, 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 |
Certain information regarding the 2026-1 Aircraft EETC equipment notes, as of September 30, 2026, is set forth in the table below: | | | | | | | | | | | | | 2026-1 Aircraft EETCs | | Series A | | Series B | | Aggregate principal issued | $905 million | | $236 million | | | | | | Fixed interest rate per annum | 5.25% | | 5.75% | | Maturity date | November 2038 | | May 2035 |
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