American Airlines Files Q3 2024 10-Q

Ticker: AAL · Form: 10-Q · Filed: Oct 24, 2024 · CIK: 6201

Sentiment: neutral

Topics: 10-Q, airline, financials

Related Tickers: UAL, DAL, LUV

TL;DR

**AA Q3 10-Q filed. Financials and ops details out.**

AI Summary

American Airlines Group Inc. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and operations during the third quarter. Key financial data and operational metrics are presented, reflecting the company's status in the air transportation industry.

Why It Matters

This filing provides investors and analysts with crucial financial and operational data for American Airlines, impacting investment decisions and market analysis for the airline sector.

Risk Assessment

Risk Level: medium — Airline industry is subject to significant external factors like fuel prices, economic conditions, and competition, which can impact financial performance.

Key Numbers

Key Players & Entities

FAQ

What were American Airlines' total revenues for the nine months ended September 30, 2024?

The filing indicates the reporting period is January 1, 2024, to September 30, 2024, but specific revenue figures are not detailed in this excerpt.

What is the company's primary industry classification?

The company is classified under 'AIR TRANSPORTATION, SCHEDULED [4512]'.

What is the fiscal year end for American Airlines Group Inc.?

The fiscal year ends on December 31.

What is the SEC file number for this 10-Q filing?

The SEC file number is 001-08400.

When was the company formerly known as AMR CORP?

The date of name change from AMR CORP was 19920703.

Filing Stats: 4,650 words · 19 min read · ~16 pages · Grade level 16.3 · Accepted 2024-10-24 07:01:40

Key Financial Figures

Filing Documents

: 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 12

Condensed Consolidated Financial Statements of American Airlines, Inc

Item 1B. Condensed Consolidated Financial Statements of American Airlines, Inc. 23 Condensed Consolidated Statements of Operations 23 Condensed Consolidated Statements of Comprehensive Income (Loss) 24 Condensed Consolidated Balance Sheets 25 Condensed Consolidated Statements of Cash Flows 26 Condensed Consolidated Statements of Stockholder's Equity 27 Notes to the Condensed Consolidated Financial Statements 28

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 38

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 59

Controls and Procedures

Item 4. Controls and Procedures 60

: OTHER INFORMATION

PART II: OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 61

Risk Factors

Item 1A. Risk Factors 61

Other Information

Item 5. Other Information 89

Exhibits

Item 6. Exhibits 90

SIGNATURES

SIGNATURES 91 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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Operating revenues: Passenger $ 12,523 $ 12,421 $ 37,184 $ 36,502 Cargo 202 193 584 613 Other 922 868 2,783 2,611 Total operating revenues 13,647 13,482 40,551 39,726 Operating expenses: Aircraft fuel and related taxes 2,874 3,209 8,916 9,098 Salaries, wages and benefits 4,098 3,974 11,917 10,891 Regional expenses 1,264 1,168 3,733 3,463 Maintenance, materials and repairs 989 870 2,823 2,389 Other rent and landing fees 861 745 2,514 2,214 Aircraft rent 303 342 945 1,031 Selling expenses 468 430 1,331 1,357 Depreciation and amortization 479 487 1,424 1,456 Special items, net 554 949 625 962 Other 1,668 1,531 4,843 4,487 Total operating expenses 13,558 13,705 39,071 37,348 Operating income (loss) 89 ( 223 ) 1,480 2,378 Nonoperating income (expense): Interest income 117 168 363 456 Interest expense, net ( 480 ) ( 537 ) ( 1,464 ) ( 1,626 ) Other income (expense), net 18 ( 98 ) ( 20 ) ( 119 ) Total nonoperating expense, net ( 345 ) ( 467 ) ( 1,121 ) ( 1,289 ) Income (loss) before income taxes ( 256 ) ( 690 ) 359 1,089 Income tax provision (benefit) ( 107 ) ( 145 ) 103 286 Net income (loss) $ ( 149 ) $ ( 545 ) $ 256 $ 803 Earnings (loss) per common share: Basic $ ( 0.23 ) $ ( 0.83 ) $ 0.39 $ 1.23 Diluted $ ( 0.23 ) $ ( 0.83 ) $ 0.39 $ 1.16 Weighted average shares outstanding (in thousands): Basic 657,424 654,119 656,745 653,241 Diluted 657,424 654,119 658,775 719,956 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 September 30, Nine Months En

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