Debt (Tables)

12 Months Ended

Dec. 31, 2022

Debt Instrument [Line Items]

Schedule of Long-Term Debt

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

	December 31,
	2022		2021
Secured
2013 Term Loan Facility, variable interest rate of 6.14%, installments through 2025 (a)	$	1,752	$	1,770
2014 Term Loan Facility, variable interest rate of 6.14%, installments through 2027 (a)	1,196		1,208
December 2016 Term Loan Facility (a)	—		1,188
11.75% senior secured notes, interest only payments until due in July 2025 (b)	2,500		2,500
10.75% senior secured IP notes, interest only payments until due in February 2026 (b)	1,000		1,000
10.75% senior secured LGA/DCA notes, interest only payments until due in February 2026 (b)	200		200
5.50% senior secured notes, installments beginning in July 2023 until due in April 2026 (c)	3,500		3,500
5.75% senior secured notes, installments beginning in July 2026 until due in April 2029 (c)	3,000		3,000
AAdvantage Term Loan Facility, variable interest rate of 8.99%, installments beginning in July 2023 through April 2028 (c)	3,500		3,500
Enhanced equipment trust certificates (EETCs), fixed interest rates ranging from 2.88% to 7.13%, averaging 3.74%, maturing from 2023 to 2034 (d)	9,175		9,357
Equipment loans and other notes payable, fixed and variable interest rates ranging from 3.33% to 8.01%, averaging 5.95%, maturing from 2023 to 2034 (e)	3,170		3,433
Special facility revenue bonds, fixed interest rates ranging from 2.25% to 5.38%, maturing from 2026 to 2036 (f)	1,050		1,129
	30,043		31,785
Unsecured
PSP1 Promissory Note, interest only payments until due in April 2030 (g)	1,757		1,765
PSP2 Promissory Note, interest only payments until due in January 2031 (g)	1,030		1,035
PSP3 Promissory Note, interest only payments until due in April 2031 (g)	959		946
6.50% convertible senior notes, interest only payments until due in July 2025 (h)	1,000		1,000
3.75% senior notes, interest only payments until due in March 2025 (i)	500		500
5.000% senior notes	—		750
	5,246		5,996
Total long-term debt	35,289		37,781
Less: Total unamortized debt discount, premium and issuance costs	386		458
Less: Current maturities	3,059		2,315
Long-term debt, net of current maturities	$	31,844	$	35,008

Certain information regarding the 2021-1 Aircraft EETC equipment notes, as of December 31, 2022, is set forth in the table below:

	2021-1 Aircraft EETCs
	Series A	Series B
Aggregate principal issued	$758 million	$202 million
Fixed interest rate per annum	2.875%	3.95%
Maturity date	July 2034	July 2030

Schedule of Credit Facilities

As of December 31, 2022, the maximum availability under our revolving credit and other facilities is as follows (in millions):

2013 Revolving Facility	$	736
2014 Revolving Facility	1,631
April 2016 Revolving Facility	446
Short-term Revolving and Other Facilities	220
Total	$	3,033

Certain details of our 2013 and 2014 Credit Facilities (collectively referred to as the Credit Facilities) and April 2016 Revolving Facility are shown in the table below as of December 31, 2022:

	2013 Credit Facilities		2014 Credit Facilities
	2013 Term Loan	2013  Revolving Facility	2014 Term Loan	2014  Revolving Facility	April 2016  Revolving Facility
Aggregate principal issued    or credit facility availability    (in millions)	$1,919	$736	$1,280	$1,631	$446
Principal outstanding or    drawn (in millions)	$1,752	$—	$1,196	$—	$—
Maturity date	June 2025	October 2024	January 2027	October 2024	October 2024
LIBOR margin	1.75%	2.00%	1.75%	2.00%	2.00%

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

At December 31, 2022, the maturities of long-term debt are as follows (in millions):

2023	$	3,059
2024	3,535
2025	9,317
2026	4,480
2027	4,515
2028 and thereafter	10,383
Total	$	35,289

Schedule of Convertible Debt

The following table provides information relating to the Convertible Notes as of December 31, 2022 and 2021 (in millions):

	December 31,
	2022		2021
Principal amount	$	1,000	$	1,000
Unamortized debt discount	(16)		(22)
Net carrying amount	$	984	$	978

Interest recognized for the Convertible Notes is as follows (in millions):

	Year Ended December 31,
	2022		2021		2020
Contractual coupon interest	$	65	$	65	$	33
Non-cash amortization of debt discount	6		5		28
Total interest expense	$	71	$	70	$	61

Schedule of Collateral Coverage Tests

Specifically, we are required to meet certain collateral coverage tests for our Credit Facilities, April 2016 Revolving Facility, 10.75% Senior Secured Notes and 11.75% Senior Secured Notes, as described below:

	2013 Credit  Facilities	2014 Credit  Facilities	April 2016 Revolving Facility	10.75% Senior Secured Notes	11.75% Senior Secured Notes
Frequency of Appraisals of Appraised Collateral	Annual	Annual	Annual	Annual	Semi-Annual
LTV Requirement	1.6x Collateral valuation to amount of debt outstanding (62.5% LTV)
LTV as of Last Measurement Date	34.4%	17.8%	Not Applicable	7.2%	32.5%
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 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

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,
	2022		2021
Secured
2013 Term Loan Facility, variable interest rate of 6.14%, installments through 2025 (a)	$	1,752	$	1,770
2014 Term Loan Facility, variable interest rate of 6.14%, installments through 2027 (a)	1,196		1,208
December 2016 Term Loan Facility (a)	—		1,188
11.75% senior secured notes, interest only payments until due in July 2025 (b)	2,500		2,500
10.75% senior secured IP notes, interest only payments until due in February 2026 (b)	1,000		1,000
10.75% senior secured LGA/DCA notes, interest only payments until due in February 2026 (b)	200		200
5.50% senior secured notes, installments beginning in July 2023 until due in April 2026 (c)	3,500		3,500
5.75% senior secured notes, installments beginning in July 2026 until due in April 2029 (c)	3,000		3,000
AAdvantage Term Loan Facility, variable interest rate of 8.99%, installments beginning in July 2023 through April 2028 (c)	3,500		3,500
Enhanced equipment trust certificates (EETCs), fixed interest rates ranging from 2.88% to 7.13%, averaging 3.74%, maturing from 2023 to 2034 (d)	9,175		9,357
Equipment loans and other notes payable, fixed and variable interest rates ranging from 3.33% to 8.01%, averaging 5.95%, maturing from 2023 to 2034 (e)	3,170		3,433
Special facility revenue bonds, fixed interest rates ranging from 2.25% to 5.38%, maturing from 2026 to 2036 (f)	1,050		1,129
Total long-term debt	30,043		31,785
Less: Total unamortized debt discount, premium and issuance costs	364		428
Less: Current maturities	3,059		1,568
Long-term debt, net of current maturities	$	26,620	$	29,789

Schedule of Credit Facilities

As of December 31, 2022, the maximum availability under American’s revolving credit and other facilities is as follows (in millions):

2013 Revolving Facility	$	736
2014 Revolving Facility	1,631
April 2016 Revolving Facility	446
Short-term Revolving and Other Facilities	220
Total	$	3,033

Certain details of American’s 2013 and 2014 Credit Facilities (collectively referred to as the Credit Facilities) and April 2016 Revolving Facility are shown in the table below as of December 31, 2022:

	2013 Credit Facilities		2014 Credit Facilities
	2013 Term Loan	2013  Revolving Facility	2014 Term Loan	2014  Revolving Facility	April 2016  Revolving Facility
Aggregate principal issued    or credit facility availability    (in millions)	$1,919	$736	$1,280	$1,631	$446
Principal outstanding or    drawn (in millions)	$1,752	$—	$1,196	$—	$—
Maturity date	June 2025	October 2024	January 2027	October 2024	October 2024
LIBOR margin	1.75%	2.00%	1.75%	2.00%	2.00%

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

At December 31, 2022, the maturities of long-term debt are as follows (in millions):

2023	$	3,059
2024	3,535
2025	7,817
2026	4,480
2027	4,515
2028 and thereafter	6,637
Total	$	30,043

Schedule of Collateral Coverage Tests

Specifically, American is required to meet certain collateral coverage tests for its Credit Facilities, April 2016 Revolving Facility, 10.75% Senior Secured Notes and 11.75% Senior Secured Notes, as described below:

	2013 Credit Facilities	2014 Credit Facilities	April 2016 Revolving Facility	10.75% Senior Secured Notes	11.75% Senior Secured Notes
Frequency of Appraisals of Appraised Collateral	Annual	Annual	Annual	Annual	Semi-Annual
LTV Requirement	1.6x Collateral valuation to amount of debt outstanding (62.5% LTV)
LTV as of Last Measurement Date	34.4%	17.8%	Not Applicable	7.2%	32.5%
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 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