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Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 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 June 30, 2025
 TotalLevel 1Level 2Level 3
Short-term investments (1), (2):
Money market funds$925 $925 $— $— 
Corporate obligations4,570 — 4,570 — 
Bank notes/certificates of deposit/time deposits1,745 — 1,745 — 
Repurchase agreements500 — 500 — 
7,740 925 6,815 — 
Restricted cash and short-term investments (1), (3)
807 460 347 — 
Long-term investments (4)
147 147 — — 
Total$8,694 $1,532 $7,162 $— 
(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, collateral associated with the payment of interest for the AAdvantage Financing and money market funds to be used to finance the cost of improvements at the Tulsa Maintenance Base. Restricted short-term investments mature in one year or less except for $157 million as of June 30, 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):
 June 30, 2025
Fair Value
 
Carrying
Value
TotalLevel 1Level 2Level 3
Long-term debt, including current maturities$29,219 $29,270 $— $25,806 $3,464 
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 June 30, 2025
 TotalLevel 1Level 2Level 3
Short-term investments (1), (2):
Money market funds$923 $923 $— $— 
Corporate obligations4,570 — 4,570 — 
Bank notes/certificates of deposit/time deposits1,744 — 1,744 — 
Repurchase agreements500 — 500 — 
7,737 923 6,814 — 
Restricted cash and short-term investments (1), (3)
807 460 347 — 
Long-term investments (4)
147 147 — — 
Total$8,691 $1,530 $7,161 $— 
(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, collateral associated with the payment of interest for the AAdvantage Financing and money market funds to be used to finance the cost of improvements at the Tulsa Maintenance Base. Restricted short-term investments mature in one year or less except for $157 million as of June 30, 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):
 June 30, 2025
Fair Value
 
Carrying
Value
TotalLevel 1Level 2Level 3
Long-term debt, including current maturities$24,475 $24,806 $— $24,806 $— 
December 31, 2024
Fair Value
Carrying
Value
TotalLevel 1Level 2Level 3
Long-term debt, including current maturities$25,072 $25,234 $— $25,234 $—