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Debt (Tables)

12 Months Ended

Dec. 31, 2019

Long-term debt included on our consolidated balance sheets consisted of (in millions):



	December 31,
	2019		2018
Secured
2013 Credit Facilities, variable interest rate of 3.54%, installments through 2025 ^(a)	$	1,807	$	1,825
2014 Credit Facilities, variable interest rate of 3.72%, installments through 2021 ^(a)	1,202		1,215
April 2016 Credit Facilities, variable interest rate of 3.80%, installments through 2023 ^(a)	970		980
December 2016 Credit Facilities, variable interest rate of 3.74%, installments through 2023 ^(a)	1,213		1,225
Enhanced equipment trust certificates (EETCs), fixed interest rates ranging from 3.00% to 8.39%, averaging 4.05%, maturing from 2020 to 2032 ^(b)	11,933		11,648
Equipment loans and other notes payable, fixed and variable interest rates ranging from 2.99% to 7.31%, averaging 3.45%, maturing from 2020 to 2031 ^(c)	4,727		5,060
Special facility revenue bonds, fixed interest rates ranging from 5.00% to 8.00%, maturing from 2020 to 2031	754		798
	22,606		22,751
Unsecured
4.625% senior notes, interest only payments until due in March 2020 ^(d)	500		500
5.000% senior notes, interest only payments until due in June 2022 ^(d)	750		—
5.50% senior notes	—		750
	1,250		1,250
Total long-term debt	23,856		24,001
Less: Total unamortized debt discount, premium and issuance costs	211		222
Less: Current maturities	2,749		3,213
Long-term debt, net of current maturities	$	20,896	$	20,566

Schedule of Credit Facilities

The table below shows the maximum availability under revolving credit facilities, all of which were undrawn, as of December 31, 2019 (in millions):



2013 Revolving Facility	$	750
2014 Revolving Facility	1,643
April 2016 Revolving Facility	450
Other Short-term Revolving Facility	400
Total	$	3,243

Certain details of our 2013 Credit Facilities, 2014 Credit Facilities, April 2016 Credit Facilities and December 2016 Credit Facilities (collectively referred to as the Credit Facilities) are shown in the table below as of December 31, 2019:



	2013 Credit Facilities		2014 Credit Facilities		April 2016 Credit Facilities		December 2016 Credit Facilities
	2013 Replacement Term Loan	2013 Revolving Facility	2014 Term Loan	2014 Revolving Facility	April 2016 Term Loan	April 2016 Revolving Facility	December 2016 Term Loan
Aggregate principal issued or credit facility availability (in millions)	$1,919	$750	$1,250	$1,643	$1,000	$450	$1,250
Principal outstanding or drawn (in millions)	$1,807	$—	$1,202	$—	$970	$—	$1,213
Maturity date	June 2025	October 2024	October 2021	October 2024	April 2023	October 2024	December 2023
LIBOR margin	1.75%	2.00%	2.00%	2.00%	2.00%	2.00%	2.00%

Schedule of Maturities of Long-Term Debt and Capital Lease Obligations

At December 31, 2019, the maturities of long-term debt are as follows (in millions):



2020	$	2,798
2021	3,510
2022	2,303
2023	4,074
2024	1,523
2025 and thereafter	9,648
Total	$	23,856

Schedule of Collateral Coverage Tests

Specifically, we are required to meet certain collateral coverage tests on an annual basis for our Credit Facilities, as described below:



	2013 Credit Facilities	2014 Credit Facilities	April 2016 Credit Facilities	December 2016 Credit Facilities
Frequency of Appraisals of Appraised Collateral	Annual	Annual	Annual	Annual
LTV Requirement	1.6x Collateral valuation to amount of debt outstanding (62.5% LTV)	1.6x Collateral valuation to amount of debt outstanding (62.5% LTV)	1.6x Collateral valuation to amount of debt outstanding (62.5% LTV)	1.6x Collateral valuation to amount of debt outstanding (62.5% LTV)
LTV as of Last Measurement Date	36.2%	17.7%	36.2%	53.6%
Collateral Description	Generally, certain slots, route authorities and airport gate leasehold rights used by American to operate all services between the U.S. and South America	Generally, 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 spare parts	Generally, certain Ronald Reagan Washington National Airport (DCA) slots, certain La Guardia Airport (LGA) slots, certain simulators and certain leasehold rights

Secured Debt [Member] | Enhanced Equipment Trust Certificates (EETC) [Member]

Debt Instrument [Line Items]

Schedule of Long-Term Debt

Certain information regarding the 2019-1 Aircraft EETC equipment notes and remaining escrowed proceeds, as of December 31, 2019, is set forth in the table below.



	2019-1 Aircraft EETCs
	Series AA	Series A	Series B
Aggregate principal issued	$579 million	$289 million	$229 million
Remaining escrowed proceeds	$155 million	$77 million	$61 million
Fixed interest rate per annum	3.15%	3.50%	3.85%
Maturity date	February 2032	February 2032	February 2028

Unsecured Debt [Member] | Senior Notes [Member]

Debt Instrument [Line Items]

Schedule of Long-Term Debt

The details of our 4.625% and 5.000% senior notes are shown in the table below as of December 31, 2019:



	4.625% Senior Notes	5.000% Senior Notes
Aggregate principal issued and outstanding	$500 million	$750 million
Maturity date	March 2020	June 2022
Fixed interest rate per annum	4.625%	5.000%
Interest payments	Semi-annually in arrears in March and September	Semi-annually in arrears in June and December

American Airlines, Inc. [Member]

Debt Instrument [Line Items]

Schedule of Long-Term Debt

Long-term debt included on American’s consolidated balance sheets consisted of (in millions):



	December 31,
	2019		2018
Secured
2013 Credit Facilities, variable interest rate of 3.54%, installments through 2025 ^(a)	$	1,807	$	1,825
2014 Credit Facilities, variable interest rate of 3.72%, installments through 2021 ^(a)	1,202		1,215
April 2016 Credit Facilities, variable interest rate of 3.80%, installments through 2023 ^(a)	970		980
December 2016 Credit Facilities, variable interest rate of 3.74%, installments through 2023 ^(a)	1,213		1,225
Enhanced equipment trust certificates (EETCs), fixed interest rates ranging from 3.00% to 8.39%, averaging 4.05%, maturing from 2020 to 2032 ^(b)	11,933		11,648
Equipment loans and other notes payable, fixed and variable interest rates ranging from 2.99% to 7.31%, averaging 3.45%, maturing from 2020 to 2031 ^(c)	4,727		5,060
Special facility revenue bonds, fixed interest rates of 5.00%, maturing from 2020 to 2031	725		769
Total long-term debt	22,577		22,722
Less: Total unamortized debt discount, premium and issuance costs	205		219
Less: Current maturities	2,246		2,466
Long-term debt, net of current maturities	$	20,126	$	20,037

Schedule of Credit Facilities

The table below shows the maximum availability under revolving credit facilities, all of which were undrawn, as of December 31, 2019 (in millions):



2013 Revolving Facility	$	750
2014 Revolving Facility	1,643
April 2016 Revolving Facility	450
Other Short-term Revolving Facility	400
Total	$	3,243

Certain details of American’s 2013 Credit Facilities, 2014 Credit Facilities, April 2016 Credit Facilities and December 2016 Credit Facilities (collectively referred to as the Credit Facilities) are shown in the table below as of December 31, 2019:



	2013 Credit Facilities		2014 Credit Facilities		April 2016 Credit Facilities		December 2016 Credit Facilities
	2013 Replacement Term Loan	2013 Revolving Facility	2014 Term Loan	2014 Revolving Facility	April 2016 Term Loan	April 2016 Revolving Facility	December 2016 Term Loan
Aggregate principal issued or credit facility availability (in millions)	$1,919	$750	$1,250	$1,643	$1,000	$450	$1,250
Principal outstanding or drawn (in millions)	$1,807	$—	$1,202	$—	$970	$—	$1,213
Maturity date	June 2025	October 2024	October 2021	October 2024	April 2023	October 2024	December 2023
LIBOR margin	1.75%	2.00%	2.00%	2.00%	2.00%	2.00%	2.00%

Schedule of Maturities of Long-Term Debt and Capital Lease Obligations

At December 31, 2019, the maturities of long-term debt are as follows (in millions):



2020	$	2,293
2021	3,508
2022	1,551
2023	4,072
2024	1,521
2025 and thereafter	9,632
Total	$	22,577

Schedule of Collateral Coverage Tests

Specifically, American is required to meet certain collateral coverage tests on an annual basis for its Credit Facilities, as described below:



	2013 Credit Facilities	2014 Credit Facilities	April 2016 Credit Facilities	December 2016 Credit Facilities
Frequency of Appraisals of Appraised Collateral	Annual	Annual	Annual	Annual
LTV Requirement	1.6x Collateral valuation to amount of debt outstanding (62.5% LTV)	1.6x Collateral valuation to amount of debt outstanding (62.5% LTV)	1.6x Collateral valuation to amount of debt outstanding (62.5% LTV)	1.6x Collateral valuation to amount of debt outstanding (62.5% LTV)
LTV as of Last Measurement Date	36.2%	17.7%	36.2%	53.6%
Collateral Description	Generally, certain slots, route authorities and airport gate leasehold rights used by American to operate all services between the U.S. and South America	Generally, 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 spare parts	Generally, certain Ronald Reagan Washington National Airport (DCA) slots, certain La Guardia Airport (LGA) slots, certain simulators and certain leasehold rights

American Airlines, Inc. [Member] | Secured Debt [Member] | Enhanced Equipment Trust Certificates (EETC) [Member]

Debt Instrument [Line Items]

Schedule of Long-Term Debt

Certain information regarding the 2019-1 Aircraft EETC equipment notes and remaining escrowed proceeds, as of December 31, 2019, is set forth in the table below.



	2019-1 Aircraft EETCs
	Series AA	Series A	Series B
Aggregate principal issued	$579 million	$289 million	$229 million
Remaining escrowed proceeds	$155 million	$77 million	$61 million
Fixed interest rate per annum	3.15%	3.50%	3.85%
Maturity date	February 2032	February 2032	February 2028