American Airlines Group Inc. Files 10-Q for Period Ending March 31, 2024

AI Summary

American Airlines Group Inc. (AAL) filed a Quarterly Report (10-Q) with the SEC on April 25, 2024. American Airlines Group Inc. filed its 10-Q report for the quarterly period ended March 31, 2024. The filing covers the period from January 1, 2024, to March 31, 2024. Key financial data points such as common stock, additional paid-in capital, accumulated other comprehensive income, and retained earnings are detailed for various periods including March 31, 2024, December 31, 2023, and March 31, 2023. Revenue segments including Passenger, Cargo & Freight, and Product & Service Other are reported for Q1 2024 and Q1 2023. Information on air traffic and loyalty program members as of March 31, 2024, and December 31, 2023, is included.

Why It Matters

For investors and stakeholders tracking American Airlines Group Inc., this filing contains several important signals. This 10-Q filing provides investors and analysts with the latest financial and operational data for American Airlines, crucial for assessing the company's performance and making informed investment decisions. The detailed breakdown of revenue segments and balance sheet components offers insights into the company's revenue streams and financial health during the first quarter of 2024.

Risk Assessment

Risk Level: medium — American Airlines Group Inc. shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q), which typically contains routine financial information and does not inherently signal significant positive or negative developments beyond the disclosed figures.

Analyst Insight

Review the detailed revenue segment performance and balance sheet changes to understand the drivers of financial results in Q1 2024.

Revenue Breakdown

Key Numbers

• 2024-03-31 — Period End Date (Conformed period of report)
• 2024-01-01 — Period Start Date (Quarterly period)
• 2023-03-31 — Prior Period End Date (Comparative period)
• 2023-01-01 — Prior Period Start Date (Comparative period)

Key Players & Entities

• American Airlines Group Inc. (company) — Filer of the 10-Q
• 0000006201 (company) — Central Index Key for American Airlines Group Inc.
• 2024-03-31 (date) — Conformed period of report
• 2024-04-25 (date) — Filed as of date
• 1 SKYVIEW DRIVE (address) — Business and mailing address
• FORT WORTH (location) — City for business and mailing address
• TX (location) — State for business and mailing address
• 76155 (postal_code) — ZIP code for business and mailing address

FAQ

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value per share AAL The Nasdaq Gl

Filing Documents

• aal-20240331.htm (10-Q) — 1901KB
• a101amendmentno16toa3amily.htm (EX-10.1) — 1347KB
• a102supplementalagreementn.htm (EX-10.2) — 291KB
• a103supplementagreementno3.htm (EX-10.3) — 4299KB
• a104severanceagreementfors.htm (EX-10.4) — 131KB
• a105severanceagreementford.htm (EX-10.5) — 124KB
• ex311q12410q.htm (EX-31.1) — 10KB
• ex312q12410q.htm (EX-31.2) — 10KB
• ex313q12410q.htm (EX-31.3) — 10KB
• ex314q12410q.htm (EX-31.4) — 10KB
• ex321q12410q.htm (EX-32.1) — 7KB
• ex322q12410q.htm (EX-32.2) — 6KB
• image.jpg (GRAPHIC) — 11KB
• image24.jpg (GRAPHIC) — 11KB
• image_1.jpg (GRAPHIC) — 24KB
• image_16.jpg (GRAPHIC) — 24KB
• image_24.jpg (GRAPHIC) — 2KB
• image_34.jpg (GRAPHIC) — 13KB
• image_5.jpg (GRAPHIC) — 24KB
• image_7.jpg (GRAPHIC) — 24KB
• 0000006201-24-000032.txt ( ) — 15872KB
• aal-20240331.xsd (EX-101.SCH) — 47KB
• aal-20240331_cal.xml (EX-101.CAL) — 75KB
• aal-20240331_def.xml (EX-101.DEF) — 479KB
• aal-20240331_lab.xml (EX-101.LAB) — 570KB
• aal-20240331_pre.xml (EX-101.PRE) — 590KB
• aal-20240331_htm.xml (XML) — 1320KB

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION

Condensed Consolidated Financial Statements of American Airlines Group Inc

Item 1A. Condensed Consolidated Financial Statements of American Airlines Group Inc. 6 Condensed Consolidated Statements of Operations 6 Condensed Consolidated Statements of Comprehensive Income (Loss) 7 Condensed Consolidated Balance Sheets 8 Condensed Consolidated Statements of Cash Flows 9 Condensed Consolidated Statements of Stockholders' Deficit 10 Notes to the Condensed Consolidated Financial Statements 11

Condensed Consolidated Financial Statements of American Airlines, Inc

Item 1B. Condensed Consolidated Financial Statements of American Airlines, Inc. 21 Condensed Consolidated Statements of Operations 21 Condensed Consolidated Statements of Comprehensive Income (Loss) 22 Condensed Consolidated Balance Sheets 23 Condensed Consolidated Statements of Cash Flows 24 Condensed Consolidated Statements of Stockholder's Equity 25 Notes to the Condensed Consolidated Financial Statements 26

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 34

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 48

Controls and Procedures

Item 4. Controls and Procedures 49

: OTHER INFORMATION

PART II: OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 50

Risk Factors

Item 1A. Risk Factors 50

Other Information

Item 5. Other Information 78

Exhibits

Item 6. Exhibits 79

SIGNATURES

SIGNATURES 80 1 General This report is filed by American Airlines Group Inc. (AAG) and its wholly-owned subsidiary American Airlines, Inc. (American). References in this report to "we," "us," "our," the "Company" and similar terms refer to AAG and its consolidated subsidiaries. References in this report to "mainline" refer to the operations of American only and exclude regional operations. Note Concerning Forward-Looking Statements Certain of the statements contained in this report should be considered forward-looking statements within the meaning of the Securities Act of 1933, as amended (the Securities Act), the Securities Exchange Act of 1934, as amended (the Exchange Act), and the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as "may," "will," "expect," "intend," "anticipate," "believe," "estimate," "plan," "project," "could," "should," "would," "continue," "seek," "target," "guidance," "outlook," "if current trends continue," "optimistic," "forecast" and other similar words. Such statements include, but are not limited to, statements about our plans, objectives, expectations, intentions, estimates and strategies for the future, and other statements that are not historical facts. These forward-looking statements are based on our current objectives, beliefs and expectations, and they are subject to significant risks and uncertainties that may cause actual results and financial position and timing of certain events to differ materially from the information in the forward-looking statements. These risks and uncertainties include, but are not limited to, those described below under Part I, Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations, Part II, Item 1A. Risk Factors and other risks and uncertainties listed from time to time in our filings with the Securities and Exchange Commission (the SEC). All of the forward-looking statements are qualifie

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION This report on Form 10-Q is filed by both AAG and American and includes the Condensed Consolidated Financial Statements of each company in Item 1A and Item 1B, respectively. 5 Table of Contents

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OF AMERICAN AIRLINES GROUP INC

ITEM 1A. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OF AMERICAN AIRLINES GROUP INC. AMERICAN AIRLINES GROUP INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except share and per share amounts)(Unaudited) Three Months Ended March 31, 2024 2023 Operating revenues: Passenger $ 11,458 $ 11,103 Cargo 187 223 Other 925 863 Total operating revenues 12,570 12,189 Operating expenses: Aircraft fuel and related taxes 2,980 3,167 Salaries, wages and benefits 3,867 3,281 Regional expenses 1,201 1,142 Maintenance, materials and repairs 884 712 Other rent and landing fees 819 708 Aircraft rent 328 344 Selling expenses 408 438 Depreciation and amortization 470 486 Special items, net 70 13 Other 1,536 1,460 Total operating expenses 12,563 11,751 Operating income 7 438 Nonoperating income (expense): Interest income 118 125 Interest expense, net ( 497 ) ( 540 ) Other expense, net ( 41 ) ( 6 ) Total nonoperating expense, net ( 420 ) ( 421 ) Income (loss) before income taxes ( 413 ) 17 Income tax provision (benefit) ( 101 ) 7 Net income (loss) $ ( 312 ) $ 10 Earnings (loss) per common share: Basic $ ( 0.48 ) $ 0.02 Diluted $ ( 0.48 ) $ 0.02 Weighted average shares outstanding (in thousands): Basic 655,847 652,000 Diluted 655,847 656,707 See accompanying notes to condensed consolidated financial statements. 6 Table of Contents AMERICAN AIRLINES GROUP INC. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (In millions)(Unaudited) Three Months Ended March 31, 2024 2023 Net income (loss) $ ( 312 ) $ 10 Other comprehensive income (loss), net of tax: Pension, retiree medical and other postretirement benefits 19 17 Investments ( 2 ) 1 Total other comprehensive income, net of tax 17 18 Total comprehensive income (loss) $ ( 295 ) $ 28 See accompanying notes to condensed consolidated financial statements. 7 Table of Contents AMERICAN AIRLINES GROUP INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In mi

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