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Debt (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Instrument [Line Items]  
Components of Debt
Debt included on our consolidated balance sheets consisted of (in millions):
 December 31,
 20252024
Secured
2013 Term Loan Facility, variable interest rate of 6.00%, installments until due in February 2028 (a)
$970 $980 
2014 Term Loan Facility, variable interest rate of 5.69%, installments until due in January 2027 (a)
1,159 1,171 
2023 Term Loan Facility, variable interest rate of 6.26%, installments until due in June 2029 (a)
1,078 1,089 
10.75% senior secured IP notes (b)
— 781 
10.75% senior secured LGA/DCA notes (b)
— 156 
7.25% senior secured notes, interest only payments until due in February 2028 (b)
750 750 
8.50% senior secured notes, interest only payments until due in May 2029 (b)
1,000 1,000 
5.50% senior secured notes, installments until due in April 2026 (c)
583 1,750 
5.75% senior secured notes, installments beginning in July 2026 until due in April 2029 (c)
3,000 3,000 
2021 AAdvantage Term Loan Facility, variable interest rate of 6.13%, installments until due in April 2028 (c)
2,264 2,450 
2025 AAdvantage Term Loan Facility, variable interest rate of 7.13%, installments until due in May 2032 (c)
995 — 
Enhanced equipment trust certificates (EETCs), fixed interest rates ranging from 2.88% to 7.15%, averaging 3.95%, maturing from 2026 to 2038 (d)
6,912 7,271 
Equipment loans and other notes payable, fixed and variable interest rates ranging from 2.55% to 6.56%, averaging 5.57%, maturing from 2026 to 2037 (e)
4,719 4,094 
Special facility revenue bonds, fixed interest rates ranging from 2.25% to 5.38%, maturing from 2026 to 2036
789 880 
24,219 25,372 
Unsecured
PSP1 Promissory Note, variable interest rate of 5.92%, interest only payments until due in April 2030 (f)
1,757 1,757 
PSP2 Promissory Note, interest only payments until due in January 2031 (f)
1,030 1,030 
PSP3 Promissory Note, interest only payments until due in April 2031 (f)
959 959 
6.50% convertible senior notes (g)
— 1,000 
Senior short-term term loan facility, variable interest rate of 6.11%, interest only payments until due in January 2026 (h)
629 — 
4,375 4,746 
Total28,594 30,118 
Less: Total unamortized debt discount, premium and issuance costs314 305 
Less: Current maturities3,641 5,196 
Long-term debt, net of current maturities$24,639 $24,617 
Schedule of Credit Facilities
As of December 31, 2025, the maximum availability under our revolving credit and other facilities is as follows (in millions):
2013 Revolving Facility (1)
$519 
2014 Revolving Facility (1)
1,557 
2023 Revolving Facility (1)
924 
Other facilities (2)
397 
Total$3,397 
(1)On April 21, 2025, the aggregate revolving commitments under the 2013, 2014 and 2023 Revolving Facilities were increased from approximately $2.9 billion to $3.0 billion upon the upsize of commitments by certain existing lenders. No other terms were changed and there are no borrowings outstanding under the facilities.
(2)Includes a revolving credit facility that provides for borrowing capacity of up to $350 million, maturing in March 2027 with an option to extend for an additional year. Additionally, American currently has $47 million of available borrowing base under a cargo receivables facility that is scheduled to expire in December 2026. There are no amounts drawn under these facilities.
Schedule of Maturities of Long-Term Debt and Capital Lease Obligations
At December 31, 2025, the maturities of long-term debt are as follows (in millions):
2026$3,641 
20274,455 
20287,324 
20294,045 
20302,487 
2031 and thereafter6,642 
Total$28,594 
2025-1 Aircraft EETC Equipment Notes
Certain information regarding the 2025-1 Aircraft EETC equipment notes, as of December 31, 2025, is set forth in the table below:
 2025-1 Aircraft EETCs
 Series ASeries B
Aggregate principal issued$884 million$221 million
Remaining escrowed proceeds$102 million$25 million
Fixed interest rate per annum4.90%5.65%
Maturity dateMay 2038November 2034
Schedule of Collateral Coverage Tests
Specifically, we are required to meet certain collateral coverage tests for our Credit Facilities, 7.25% Senior Secured Notes and 8.50% Senior Secured Notes, as described below:
2013 Credit 
Facilities
7.25% Senior Secured Notes
2014 Credit 
Facilities		2023 Credit Facilities
8.50% Senior Secured Notes
LTV Requirement
1.6x Collateral valuation to amount of debt outstanding (62.5% LTV)
LTV as of Last Measurement Date38.4%15.3%25.4%
Frequency of Appraisals of Appraised CollateralSemi-Annual
Collateral DescriptionGenerally, certain slots, route authorities and airport gate leasehold rights used by American to operate certain services between the U.S. and South America and New ZealandGenerally, certain slots, route authorities and airport gate leasehold rights used by American to operate certain services between the U.S. and European Union (including London Heathrow)Generally, certain slots, route authorities and airport gate leasehold rights used by American to operate certain services between the U.S. and Australia, Canada, the Caribbean, Central America, China, Hong Kong, Japan, Mexico, South Korea and Switzerland
American Airlines, Inc.  
Debt Instrument [Line Items]  
Components of Debt
Debt included on American’s consolidated balance sheets consisted of (in millions):
 December 31,
 20252024
Secured
2013 Term Loan Facility, variable interest rate of 6.00%, installments until due in February 2028 (a)
$970 $980 
2014 Term Loan Facility, variable interest rate of 5.69%, installments until due in January 2027 (a)
1,159 1,171 
2023 Term Loan Facility, variable interest rate of 6.26%, installments until due in June 2029 (a)
1,078 1,089 
10.75% senior secured IP notes (b)
— 781 
10.75% senior secured LGA/DCA notes (b)
— 156 
7.25% senior secured notes, interest only payments until due in February 2028 (b)
750 750 
8.50% senior secured notes, interest only payments until due in May 2029 (b)
1,000 1,000 
5.50% senior secured notes, installments until due in April 2026 (c)
583 1,750 
5.75% senior secured notes, installments beginning in July 2026 until due in April 2029 (c)
3,000 3,000 
2021 AAdvantage Term Loan Facility, variable interest rate of 6.13%, installments until due in April 2028 (c)
2,264 2,450 
2025 AAdvantage Term Loan Facility, variable interest rate of 7.13%, installments until due in May 2032 (c)
995 — 
Enhanced equipment trust certificates (EETCs), fixed interest rates ranging from 2.88% to 7.15%, averaging 3.95%, maturing from 2026 to 2038 (d)
6,912 7,271 
Equipment loans and other notes payable, fixed and variable interest rates ranging from 2.55% to 6.56%, averaging 5.57%, maturing from 2026 to 2037 (e)
4,719 4,094 
Special facility revenue bonds, fixed interest rates ranging from 2.25% to 5.38%, maturing from 2026 to 2036
789 880 
24,219 25,372 
Unsecured
Senior short-term term loan facility, variable interest rate of 6.11%, interest only payments until due in January 2026 (f)
629 — 
Total24,848 25,372 
Less: Total unamortized debt discount, premium and issuance costs313 300 
Less: Current maturities3,641 4,196 
Long-term debt, net of current maturities$20,894 $20,876 
Schedule of Credit Facilities
As of December 31, 2025, the maximum availability under American’s revolving credit and other facilities is as follows (in millions):
2013 Revolving Facility (1)
$519 
2014 Revolving Facility (1)
1,557 
2023 Revolving Facility (1)
924 
Other facilities (2)
397 
Total$3,397 
(1)On April 21, 2025, the aggregate revolving commitments under the 2013, 2014 and 2023 Revolving Facilities were increased from approximately $2.9 billion to $3.0 billion upon the upsize of commitments by certain existing lenders. No other terms were changed and there are no borrowings outstanding under the facilities.
(2)Includes a revolving credit facility that provides for borrowing capacity of up to $350 million, maturing in March 2027 with an option to extend for an additional year. Additionally, American currently has $47 million of available borrowing base under a cargo receivables facility that is scheduled to expire in December 2026. There are no amounts drawn under these facilities.
Schedule of Maturities of Long-Term Debt and Capital Lease Obligations
At December 31, 2025, the maturities of long-term debt are as follows (in millions):
2026$3,641 
20274,455 
20287,324 
20294,045 
2030730 
2031 and thereafter4,653 
Total$24,848 
2025-1 Aircraft EETC Equipment Notes
Certain information regarding the 2025-1 Aircraft EETC equipment notes, as of December 31, 2025, is set forth in the table below:
 2025-1 Aircraft EETCs
 Series ASeries B
Aggregate principal issued$884 million$221 million
Remaining escrowed proceeds$102 million$25 million
Fixed interest rate per annum4.90%5.65%
Maturity dateMay 2038November 2034
Schedule of Collateral Coverage Tests
Specifically, American is required to meet certain collateral coverage tests for its Credit Facilities, 7.25% Senior Secured Notes and 8.50% Senior Secured Notes, as described below:
2013 Credit Facilities
7.25% Senior Secured Notes
2014 Credit Facilities2023 Credit Facilities
8.50% Senior Secured Notes
LTV Requirement
1.6x Collateral valuation to amount of debt outstanding (62.5% LTV)
LTV as of Last Measurement Date38.4%15.3%25.4%
Frequency of Appraisals of Appraised CollateralSemi-Annual
Collateral DescriptionGenerally, certain slots, route authorities and airport gate leasehold rights used by American to operate certain services between the U.S. and South America and New ZealandGenerally, certain slots, route authorities and airport gate leasehold rights used by American to operate certain services between the U.S. and European Union (including London Heathrow)Generally, certain slots, route authorities and airport gate leasehold rights used by American to operate certain services between the U.S. and Australia, Canada, the Caribbean, Central America, China, Hong Kong, Japan, Mexico, South Korea and Switzerland