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Investments (Tables)
 12 Months Ended
Dec. 31, 2025
Schedule of Investments [Line Items]  
Schedule of Equity Investments
Our equity investments, ownership interest and carrying value were as follows:
Ownership InterestCarrying Value (in millions)
December 31,December 31,
Accounting Treatment2025202420252024
Republic Holdings (1)
Equity Method20.8 %25.0 %$254 $253 
China Southern AirlinesFair Value1.5 %1.5 %203 142 
Other investments (2)
Various146 120 
Total$603 $515 
(1)In November 2025, Republic Holdings completed a merger with Mesa Air Group, Inc. As a result, our equity interest in Republic Holdings decreased from 25.0% to 20.8%.
(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]  
Schedule of Equity Investments
American’s equity investments, ownership interest and carrying value were as follows:
Ownership InterestCarrying Value (in millions)
December 31,December 31,
Accounting Treatment2025202420252024
Republic Holdings (1)
Equity Method20.8 %25.0 %$254 $253 
China Southern AirlinesFair Value1.5 %1.5 %203 142 
Other investments (2)
Various146 120 
Total$603 $515 
(1)In November 2025, Republic Holdings completed a merger with Mesa Air Group, Inc. As a result, American’s equity interest in Republic Holdings decreased from 25.0% to 20.8%.
(2)Primarily includes American’s investment in JetSMART Holdings Limited, which is accounted for under the equity method.