Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Instrument [Line Items]

Schedule of Long-Term Debt

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

	December 31,
	2020		2019
Secured
2013 Term Loan Facility, variable interest rate of 1.90%, installments through 2025 (a)	$	1,788	$	1,807
2013 Revolving Facility, variable interest rate of 2.15%, due 2024 (a)	750		—
2014 Term Loan Facility, variable interest rate of 1.90%, installments through 2027 (a)	1,220		1,202
2014 Revolving Facility, variable interest rate of 2.15%, due 2024 (a)	1,643		—
April 2016 Term Loan Facility, variable interest rate of 2.15%, installments through 2023 (a)	960		970
April 2016 Revolving Facility, variable interest rate of 2.15%, due 2024 (a)	450		—
December 2016 Term Loan Facility, variable interest rate of 2.16%, installments through 2023 (a)	1,200		1,213
11.75% senior secured notes, interest only payments until due in July 2025 (b)	2,500		—
10.75% senior secured IP notes, interest only payments until due in February 2026 (b)	1,000		—
10.75% senior secured LGA/DCA notes, interest only payments until due in February 2026 (b)	200		—
Treasury Term Loan Facility, variable interest rate of 3.73%, interest only payments until due June 2025 (c)	550		—
Enhanced equipment trust certificates (EETCs), fixed interest rates ranging from 3.00% to 8.39%, averaging 3.98%, maturing from 2021 to 2032 (d)	11,013		11,933
Equipment loans and other notes payable, fixed and variable interest rates ranging from 1.32% to 5.83%, averaging 1.88%, maturing from 2021 to 2032 (e)	4,417		4,727
Special facility revenue bonds, fixed interest rates ranging from 5.00% to 8.00%, maturing from 2021 to 2036 (f)	1,064		754
	28,755		22,606
Unsecured
PSP1 Promissory Note (g)	1,765		—
6.50% convertible senior notes, interest only payments until due in July 2025 (h)	1,000		—
5.000% senior notes, interest only payments until due in June 2022 (i)	750		750
3.75% senior notes, interest only payments until due in March 2025 (i)	500		—
4.625% senior notes	—		500
	4,015		1,250
Total long-term debt	32,770		23,856
Less: Total unamortized debt discount, premium and issuance costs	749		211
Less: Current maturities	2,697		2,749
Long-term debt, net of current maturities	$	29,324	$	20,896

Certain information regarding the 2019-1 Aircraft EETC equipment notes, as of December 31, 2020, 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
Fixed interest rate per annum	3.15%	3.50%	3.85%
Maturity date	February 2032	February 2032	February 2028

The details of our 5.000% and 3.75% Senior Notes are shown in the table below as of December 31, 2020:

	5.000% Senior Notes	3.75% Senior Notes
Aggregate principal issued and outstanding	$750 million	$500 million
Maturity date	June 2022	March 2025
Fixed interest rate per annum	5.000%	3.75%
Interest payments	Semi-annually in arrears in June and December	Semi-annually in arrears in March and September

Schedule of Credit Facilities

As of December 31, 2020, the maximum availability under our Treasury Term Loan Facility and other facilities is as follows (in millions):

Treasury Term Loan Facility	$	6,950
Short-term Revolving and Other Facilities	446
Total	$	7,396

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, 2020:

	2013 Credit Facilities		2014 Credit Facilities		April 2016 Credit Facilities		December 2016 Credit Facilities
	2013 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	$1,280	$1,643	$1,000	$450	$1,250
Principal outstanding or drawn (in millions)	$1,788	$750	$1,220	$1,643	$960	$450	$1,200
Maturity date	June 2025	October 2024	January 2027	October 2024	April 2023	October 2024	December 2023
LIBOR margin	1.75%	2.00%	1.75%	2.00%	2.00%	2.00%	2.00%

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

At December 31, 2020, the maturities of long-term debt are as follows (in millions):

2021	$	2,751
2022	2,424
2023	4,164
2024	4,403
2025	7,924
2026 and thereafter	11,104
Total	$	32,770

Schedule of Convertible Debt

The following table details the debt and equity components recognized related to the Convertible Notes as of December 31, 2020 (in millions):

	December 31, 2020
Principal amount of 6.50% convertible senior notes	$	1,000
Unamortized debt discount	(417)
Net carrying amount of 6.50% convertible senior notes	583
Additional paid-in capital	415

Schedule of Collateral Coverage Tests

Specifically, we are required to meet certain collateral coverage tests for our Credit Facilities, 10.75% Senior Secured Notes, 11.75% Senior Secured Notes and Treasury Loan Agreement, as described below:

	2013 Credit  Facilities	2014 Credit  Facilities	April 2016 Credit Facilities	December 2016 Credit Facilities	10.75% Senior Secured Notes	11.75% Senior Secured Notes	Treasury Loan Agreement
Frequency of Appraisals of Appraised Collateral	Annual	Annual	Annual	Annual	Annual	Semi-Annual	Semi-Annual
LTV Requirement	1.6x Collateral valuation to amount of debt outstanding (62.5% LTV)
LTV as of Last Measurement Date	53.1%	44.3%	48.0%	61.2%	61.2%	35.2%	De Minimis
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	Generally, certain DCA slots, certain LGA slots, certain simulators and certain leasehold rights and, in the case of the IP Notes, certain intellectual property of American	Generally, certain slots, route authorities and airport gate leasehold rights used by American to operate certain services between the U.S. and the Caribbean, Central America and various other countries	Generally, certain rights under U.S. co-branded credit card agreements and certain other loyalty program agreements and intellectual property related to AAdvantage

American Airlines, Inc.

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,
	2020		2019
Secured
2013 Term Loan Facility, variable interest rate of 1.90%, installments through 2025 (a)	$	1,788	$	1,807
2013 Revolving Facility, variable interest rate of 2.15%, due 2024 (a)	750		—
2014 Term Loan Facility, variable interest rate of 1.90%, installments through 2027 (a)	1,220		1,202
2014 Revolving Facility, variable interest rate of 2.15%, due 2024 (a)	1,643		—
April 2016 Term Loan Facility, variable interest rate of 2.15%, installments through 2023 (a)	960		970
April 2016 Revolving Facility, variable interest rate of 2.15%, due 2024 (a)	450		—
December 2016 Term Loan Facility, variable interest rate of 2.16%, installments through 2023 (a)	1,200		1,213
11.75% senior secured notes, interest only payments until due in July 2025 (b)	2,500		—
10.75% senior secured IP notes, interest only payments until due in February 2026 (b)	1,000		—
10.75% senior secured LGA/DCA notes, interest only payments until due in February 2026 (b)	200		—
Treasury Term Loan Facility, variable interest rate of 3.73%, interest only payments until due June 2025 (c)	550		—
Enhanced equipment trust certificates (EETCs), fixed interest rates ranging from 3.00% to 8.39%, averaging 3.98%, maturing from 2021 to 2032 (d)	11,013		11,933
Equipment loans and other notes payable, fixed and variable interest rates ranging from 1.32% to 5.83%, averaging 1.88%, maturing from 2021 to 2032 (e)	4,417		4,727
Special facility revenue bonds, fixed interest rates ranging from 5.00% to 5.38%, maturing from 2021 to 2036 (f)	1,040		725
Total long-term debt	28,731		22,577
Less: Total unamortized debt discount, premium and issuance costs	321		205
Less: Current maturities	2,700		2,246
Long-term debt, net of current maturities	$	25,710	$	20,126

Certain information regarding the 2019-1 Aircraft EETC equipment notes, as of December 31, 2020, 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
Fixed interest rate per annum	3.15%	3.50%	3.85%
Maturity date	February 2032	February 2032	February 2028

Schedule of Credit Facilities

As of December 31, 2020, the maximum availability under American’s Treasury Term Loan Facility and other facilities is as follows (in millions):

Treasury Term Loan Facility	$	6,950
Short-term Revolving and Other Facilities	446
Total	$	7,396

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, 2020:

	2013 Credit Facilities		2014 Credit Facilities		April 2016 Credit Facilities		December 2016 Credit Facilities
	2013 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	$1,280	$1,643	$1,000	$450	$1,250
Principal outstanding or drawn (in millions)	$1,788	$750	$1,220	$1,643	$960	$450	$1,200
Maturity date	June 2025	October 2024	January 2027	October 2024	April 2023	October 2024	December 2023
LIBOR margin	1.75%	2.00%	1.75%	2.00%	2.00%	2.00%	2.00%

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

At December 31, 2020, the maturities of long-term debt are as follows (in millions):

2021	$	2,749
2022	1,672
2023	4,162
2024	4,401
2025	6,421
2026 and thereafter	9,326
Total	$	28,731

Schedule of Collateral Coverage Tests

Specifically, American is required to meet certain collateral coverage tests for its Credit Facilities, 10.75% Senior Secured Notes, 11.75% Senior Secured Notes and Treasury Loan Agreement, as described below:

	2013 Credit Facilities	2014 Credit Facilities	April 2016 Credit Facilities	December 2016 Credit Facilities	10.75% Senior Secured Notes	11.75% Senior Secured Notes	Treasury Loan Agreement
Frequency of Appraisals of Appraised Collateral	Annual	Annual	Annual	Annual	Annual	Semi-Annual	Semi-Annual
LTV Requirement	1.6x Collateral valuation to amount of debt outstanding (62.5% LTV)
LTV as of Last Measurement Date	53.1%	44.3%	48.0%	61.2%	61.2%	35.2%	De Minimis
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	Generally, certain DCA slots, certain LGA slots, certain simulators and certain leasehold rights and, in the case of the IP Notes, certain intellectual property of American	Generally, certain slots, route authorities and airport gate leasehold rights used by American to operate certain services between the U.S. and the Caribbean, Central America and various other countries	Generally, certain rights under U.S. co-branded credit card agreements and certain other loyalty program agreements and intellectual property related to AAdvantage