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Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Schedule of Assets Measured at Fair Value on Recurring Basis
Assets measured at fair value on a recurring basis are summarized below (in millions):
 Fair Value Measurements as of March 31, 2025
 TotalLevel 1Level 2Level 3
Short-term investments (1), (2):
Money market funds$232 $232 $— $— 
Corporate obligations3,789 — 3,789 — 
Bank notes/certificates of deposit/time deposits2,135 — 2,135 — 
Repurchase agreements475 — 475 — 
6,631 232 6,399 — 
Restricted cash and short-term investments (1), (3)
647 312 335 — 
Long-term investments (4)
132 132 — — 
Total$7,410 $676 $6,734 $— 
(1)All short-term investments are classified as available-for-sale and stated at fair value. Unrealized gains and losses are recorded in accumulated other comprehensive loss at each reporting period. There were no credit losses.
(2)Our short-term investments mature in one year or less.
(3)Restricted cash and short-term investments primarily include collateral held to support workers’ compensation obligations and collateral associated with the payment of interest for the AAdvantage Financing. Restricted short-term investments mature in one year or less except for $151 million as of March 31, 2025.
(4)Long-term investments primarily include our equity investment in China Southern Airlines Company Limited (China Southern Airlines). See Note 8 for further information on our equity investments.
Schedule of Carrying Value and Estimated Fair Value of Long-Term Debt, Including Current Maturities
The carrying value and estimated fair value of our long-term debt, including current maturities, were as follows (in millions):
 March 31, 2025
Fair Value
 
Carrying
Value
TotalLevel 1Level 2Level 3
Long-term debt, including current maturities$28,857 $28,538 $— $25,213 $3,325 
December 31, 2024
Fair Value
Carrying
Value
TotalLevel 1Level 2Level 3
Long-term debt, including current maturities$29,813 $30,010 $— $26,402 $3,608 
American Airlines, Inc.  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Schedule of Assets Measured at Fair Value on Recurring Basis
Assets measured at fair value on a recurring basis are summarized below (in millions):
 Fair Value Measurements as of March 31, 2025
 TotalLevel 1Level 2Level 3
Short-term investments (1), (2):
Money market funds$230 $230 $— $— 
Corporate obligations3,789 — 3,789 — 
Bank notes/certificates of deposit/time deposits2,135 — 2,135 — 
Repurchase agreements475 — 475 — 
6,629 230 6,399 — 
Restricted cash and short-term investments (1), (3)
647 312 335 — 
Long-term investments (4)
132 132 — — 
Total$7,408 $674 $6,734 $— 
(1)All short-term investments are classified as available-for-sale and stated at fair value. Unrealized gains and losses are recorded in accumulated other comprehensive loss at each reporting period. There were no credit losses.
(2)American’s short-term investments mature in one year or less.
(3)Restricted cash and short-term investments primarily include collateral held to support workers’ compensation obligations and collateral associated with the payment of interest for the AAdvantage Financing. Restricted short-term investments mature in one year or less except for $151 million as of March 31, 2025.
(4)Long-term investments primarily include American’s equity investment in China Southern Airlines Company Limited (China Southern Airlines). See Note 7 for further information on American’s equity investments.
Schedule of Carrying Value and Estimated Fair Value of Long-Term Debt, Including Current Maturities
The carrying value and estimated fair value of American’s long-term debt, including current maturities, were as follows (in millions):
 March 31, 2025
Fair Value
 
Carrying
Value
TotalLevel 1Level 2Level 3
Long-term debt, including current maturities$24,115 $24,211 $— $24,211 $— 
December 31, 2024
Fair Value
Carrying
Value
TotalLevel 1Level 2Level 3
Long-term debt, including current maturities$25,072 $25,234 $— $25,234 $—