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YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ” means the rehabilitation plan adopted by the IAM Pension Fund on April 17, 2019. “Republic” means Republic Airways Inc. “Republic Holdings” means Republic Airways Holdings Inc., the parent compan...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Exchange Commission. “Second Lien 11.75% Senior Secured Notes Collateral” means certain assets, rights and properties utilized by American in providing its scheduled air carrier services to and fro...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. FR” means the Secured Overnight Financing Rate. “SPV Guarantors” means AAdvantage Holdings 1, Ltd. a Cayman Islands exempted company incorporated with limited liability and a direct wholly-owned sub...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. AG. “Superfund Act” means Comprehensive Environmental Response, Compensation and Liability Act. “Tax Benefits Preservation Plan” means the tax benefits preservation plan adopted by the Board of Dir...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. “Treasury Loan Closing Date” means September 25, 2020. “Treasury Loan Warrant Agreement” means the warrant agreement, dated as of September 25, 2020, between AAG and Treasury entered into in connect...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. under the Treasury Loan Agreement. “TSA” means Transportation Security Administration. “TWU” means Transport Workers Union. “TWU-IAM Association” means Transport Workers Union and International A...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. business environment, and new risks and uncertainties emerge from time to time. Management cannot predict such new risks and uncertainties, nor can it assess the extent to which any of the risk fact...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. competitors, all of which in turn have had, and may have in the future, a strong negative effect on our business. For example, the COVID-19 pandemic and associated decline in economic activity and i...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. emplates continued significant investments related to our fleet, improving the experience of our customers and updating our facilities. Significant capital resources will be required to execute this ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. factors: our substantial level of existing indebtedness, particularly following the additional liquidity transactions completed in response to the impact of the COVID-19 pandemic; our non-investment...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. . Depending on numerous factors applicable at the time we seek capital, many of which are out of our control, such as the state of the domestic and global economies, the capital and credit markets’ v...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Table of Contents Our high level of debt and other obligations may limit our ability to fund general corporate requirements and obtain additional financing, may limit our flexibility in responding...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. for us to satisfy our obligations under our indebtedness; limit our ability to obtain additional funding for working capital, capital expenditures, acquisitions, investments and general corporate p...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. operations, or competitive position versus other airlines; limit our ability to withstand competitive pressures and reduce our flexibility in responding to changing business and economic conditions...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the onset of the COVID-19 pandemic we have been required to obtain a significant amount of additional financing from a variety of sources and we cannot guarantee that we will not need to obtain addi...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. and restrictions to which we are not currently subject. In particular, in connection with the financial assistance we have received through the payroll support program established under the Coronavi...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. for the continuation of payment of eligible employee wages, salaries and benefits; and restrictions on the payment of certain executive compensation until April 1, 2023. Additionally, under PSP1, PS...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ants and provisions could become binding on us as we continue to seek additional liquidity. The obligations discussed above, including those imposed as a result of the CARES Act, the PSP Extension L...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. other central banks, the supply of and demand for credit in the London interbank market and general economic conditions. We have not hedged our interest rate exposure with respect to our floating ra...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. our interest expense will increase, in which event we may have difficulties making interest payments and funding our other fixed costs, and our available cash flow for general corporate requirements...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. to LIBOR, or what effect these changes in views or alternatives may have on financial markets for LIBOR-linked financial instruments. While the U.S. Federal Reserve, in conjunction with the Alternat...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. itative and Qualitative Disclosures About Market Risk – “Interest.” As of December 31, 2022, we had $9.2 billion of borrowings with interest rates linked to LIBOR. We have commenced the process of ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. obligations are significant. The amount of our pension funding obligations will depend on the performance of investments held in trust by the pension plans, interest rates for determining liabilitie...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. status on April 17, 2019. Upon entry into critical status, the IAM Pension Fund was required by law to adopt a rehabilitation plan aimed at restoring the financial health of the pension plan and did...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the 30 Table of Contents IAM Pension fund were to terminate, or if the IAM Pension Fund were to undergo a mass withdrawal, we could be subject to liability as imposed by law. If our financial co...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. provided the air transportation. Additionally, such credit card processing companies may require cash or other collateral reserves to be established. These credit card processing companies are not c...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. credit, insurance- and surety-related agreements under which counterparties may require collateral, including cash collateral. The loss of key personnel upon whom we depend to operate our business ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the PSP Extension Law and the ARP impose significant restrictions on executive compensation, which will remain in place until April 1, 2023. Such restrictions, over time, will likely result in lower...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. other conditions beyond our control, including global events that affect travel behavior, and our results of operations could be volatile and fluctuate due to seasonality. Our business, results of ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. in costs of safety, security and environmental measures; outbreaks of diseases that affect travel behavior, such as occurred during the COVID-19 pandemic; and 31 Table of Contents weather and na...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. public events and many others—initially resulted in a precipitous decline in demand for both domestic and international business and leisure travel. Additionally, the COVID-19 pandemic necessitated ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. duration and severity of the COVID-19 pandemic—including the emergence and spread of any new variants—and its after effects remain uncertain, and there can be no assurance that any mitigating action...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ’ travel behavior. As a result of these or other conditions beyond our control, our results of operations could be volatile and subject to rapid and unexpected change. In addition, due to generally w...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. that a carrier maintain the existing terms and conditions of employment following the amendable date through a multi-stage and usually lengthy series of bargaining processes overseen by the NMB. As ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. NMB appoint a federal mediator. The RLA prescribes no timetable for the direct negotiation and mediation processes, and it is not unusual for those processes to last for many months or even several ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. end of this “cooling off” period, unless an agreement is reached or action is taken by Congress, the labor organization may exercise “self-help,” such as a strike, which could materially adversely a...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. . If successful, there is a risk these arbitral avenues could result in material additional costs that we did not anticipate. See also Part I, Item 1. Business – “Our People Labor Relations 32 Ta...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. increase our labor expense. If we encounter problems with any of our third-party regional operators or third-party service providers, our operations could be adversely affected by a resulting decli...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. out-of-court or bankruptcy restructuring of any of our regional operators. Several of these third-party regional operators provide significant regional capacity that we would be unable to replace in...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. capacity in line with increased demand for air travel following the height of the COVID-19 pandemic, these third-party operators have experienced difficulties in recruiting and retaining sufficient ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. condition. In addition, our reliance upon others to provide essential services on behalf of our operations may result in our relative inability to control the efficiency and timeliness of contract ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. priced providers, or at all. These third parties are also facing challenges retaining and recruiting people with the appropriate skills to meet our requirements as the economy in general, and the ai...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. for air travel as COVID-19 cases declined worldwide and governments lifted travel restrictions, suppliers and many of the airports we serve experienced acute shortages of personnel, resulting in inc...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. business, results of operations and financial condition. 33 Table of Contents Any damage to our reputation or brand image could adversely affect our business or financial results. Maintaining a ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. highly visible industry that has significant exposure to social media. Negative publicity, including as a result of misconduct by our customers, vendors or employees, can spread rapidly through soci...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. may harm our reputation and business. We have in the past, and may in the future be required to take extensive measures to reassure our team members and the traveling public of the safety of air tra...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. which resulted in injuries to our personnel. If our employees feel unsafe or believe that we are not doing enough to prevent and prosecute these incidents, we could experience higher rates of employ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. capture and rapidly disseminate information via social media. Such an incident could involve the actual or alleged behavior of any of our employees, contractors or passengers. Further, if our person...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. be forced to bear substantial losses from an incident or accident. In addition, any such incident, accident, catastrophe or action involving our personnel, one of our aircraft (or personnel and airc...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. measures include further segmentation of the classes of service we offer, such as Premium Economy service and Basic Economy service, enhancements to our AAdvantage loyalty program, charging separate...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. additional 34 Table of Contents initiatives in the future; however, as time goes on, we expect that it will be more difficult to identify and implement additional initiatives. We cannot assure th...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. similar charges. Our intellectual property rights, particularly our branding rights, are valuable, and any inability to protect them may adversely affect our business and financial results. We con...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. and may divert the attention of our management and key personnel from our business operations, either of which may adversely affect our business and financial results. In addition, we have used cer...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. in legal proceedings, claims and government inspections or investigations and other legal matters, both inside and outside the United States, arising in the ordinary course of our business or otherw...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. legal proceedings and claims, regardless of their actual merit. If a legal proceeding is resolved against us, it could result in significant compensatory damages, and in certain circumstances puniti...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. we are involved can be found in Note 11(e) to AAG’s Consolidated Financial Statements in Part II, Item 8A and Note 10(e) to American’s Consolidated Financial Statements in Part II, Item 8B. Our abi...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. will expire beginning in 2024 if unused and $14.6 billion can be carried forward indefinitely. We also had approximately $6.0 billion of NOL carryforwards to reduce future state taxable income at De...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. in future periods. There can be no assurance that an additional valuation allowance on our net deferred tax assets will not be required should our financial performance be negatively impacted in the...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. in connection with the merger of US Airways Group and AMR Corporation (the Merger). The general limitation rules for a debtor in a bankruptcy case are liberalized where the ownership change occurs u...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. stock issuable upon exercise thereof) we issued to Treasury did not and will not result in an “ownership change” for purposes of Section 382. This exception does not apply for companies issuing warr...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the foregoing, an ownership change may severely limit or effectively eliminate our ability to utilize our NOL carryforwards and other tax attributes. In connection with the expiration in December 20...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , however, that the deterrent mechanism will be effective, and such acquisitions may still occur. In addition, the Tax Benefits Preservation Plan may adversely affect the marketability of AAG common ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. minimum tax on certain corporations with average adjusted financial statement income over a three-tax year period in excess of $1.0 billion and an excise tax on certain stock repurchases by certain ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. will occur. If such changes are enacted or implemented, we are currently unable to predict the ultimate impact on our business and therefore there can be no assurance our business will not be advers...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. assess certain of our other long-lived assets for impairment if conditions indicate that an impairment may have occurred. Future impairment of goodwill or other long-lived assets could be recorded ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. angible assets will not occur in a future period; we have previously incurred significant impairment charges associated with our decision to retire certain aircraft as a result of the severe decline ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. working policies and communication alternatives such as videoconferencing. In many of our markets, we compete with at least one low-cost carrier (including so-called ultra-low-cost carriers). Our re...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. carriers (including so-called ultra-low-cost carriers) have a profound impact on industry revenues. Using the advantage of low unit costs, these carriers offer lower fares in order to shift demand f...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. other large network carriers have implemented “Basic Economy” fares designed to more effectively compete against low-cost carriers, but we cannot predict whether these initiatives will be successful...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. of our key global competitors, we generally have somewhat greater relative exposure to certain regions (for example, Latin America) and somewhat lower relative exposure to others (for example, China...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the COVID-19 pandemic resulted in a precipitous and prolonged decline in demand for air travel, in particular international travel, in part as a result of the imposition by the U.S. and foreign gove...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , granted immunity from antitrust regulations by governmental authorities for specific areas of cooperation, such as joint pricing decisions. To the extent alliances formed by our competitors can und...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. antitrust immunity. The transatlantic joint business benefits from a grant of antitrust immunity from the DOT and was reviewed by the EC in July 2010. In connection with this review, we provided cer...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. CMA adopted interim measures that effectively extend the EC commitments until March 2026 in light of the uncertainty and other impacts resulting from the COVID-19 pandemic. The CMA plans to complete...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. this proposed alliance arrangement to the DOT for review. After American, JetBlue and the DOT agreed to a series of commitments, the DOT terminated its review of the proposed alliance in January 202...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Blue in the District of Massachusetts alleging that American and JetBlue violated U.S. antitrust law in connection with the NEA. The parties presented their respective cases in a bench trial that com...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Massachusetts and the Eastern District of New York, respectively. We believe these complaints are without merit and are defending against them vigorously. Notwithstanding the DOT’s termination of i...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. identified with respect to the NEA. The DOT simultaneously published a Notice Staying Proceeding in relation to a complaint by Spirit Airlines, Inc. regarding the NEA, pending resolution of the DOJ ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. partnerships, including antitrust immunity grants, may take place and may not involve us as a participant. Depending on which carriers combine or integrate and which assets, if any, are sold or othe...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. our AAdvantage loyalty program, which is an important element of our sales and marketing programs, faces significant and increasing competition from the loyalty programs offered by other travel comp...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. of our loyalty program and maximize the revenue generated by our loyalty program. We may also be impacted by competition regulations affecting certain of our major commercial partners, including ou...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. important part of our strategy to expand our network has been to initiate or expand our commercial relationships with other airlines, such as by entering into global alliance, joint business and cod...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. business. Any such existing or future investment could involve significant challenges and risks, including that we may not realize a satisfactory return on our investment or that they may not genera...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ization, approval and implementation of new strategic relationships or the maintenance or expansion of existing relationships. If any carriers with which we partner or in which we hold an equity stak...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. periods of high volatility in fuel costs, increased fuel prices or significant disruptions in the supply of aircraft fuel could have a significant negative impact on consumer demand, our operating r...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. needed to operate our business, even a relatively small increase or decrease in the price of fuel can have a material effect on our operating results and liquidity. Due to the competitive nature of ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. -producing countries, economic sanctions imposed against oil-producing countries or specific industry participants, changes in fuel-related governmental policy, the strength of the U.S. dollar agains...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. generally do not provide meaningful price protection against increases in fuel costs. Our current policy is not to enter into transactions to hedge our fuel consumption, although we review this poli...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. in our fleet. Currently, industrial production of SAF is small in scale and inadequate to meet growing industry demand, and while additional production capacity is expected to come online in coming ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. facilities will be built or that they will meet contracted production timelines and volumes. In the event that the SAF is not delivered on schedule or in sufficient volumes, there can be no assuranc...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. several of their respective international counterparts have issued regulations and a number of other directives, that affect the airline industry. These requirements impose substantial costs on us a...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. us and lost revenues. The recent telecom industry roll-out of 5G technology, and concerns regarding its possible interference with aircraft navigation systems, also resulted in regulatory uncertaint...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. flexibility. In the future, any new regulatory requirements, particularly requirements that limit our ability to operate or price our products, could have a material adverse effect on us and the ind...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Finally, DOT will be proposing and implementing a number of new disability regulations that will impact us, including rules for accessible lavatories on single-aisle aircraft, wheelchair damage and ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. laws could affect our relationship with our workforce and the vendors that serve our airline and cause our expenses to increase without an ability to pass through these costs. In recent years, the a...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. in September 2021, the Biden Administration issued an executive order mandating a COVID-19 vaccination requirement for federal contractors. Due to a number of our agreements, American is classified ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Table of Contents requirement on our business should the federal government move to reinstate and enforce it. Moreover, we may be subject to state and local vaccine mandates and other COVID-19-rel...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , or the types of fares offered or fees that can be charged to passengers; the granting and timing of certain governmental approvals (including antitrust or foreign government approvals) needed for ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. -imposed noise restrictions; and restrictions on travel or special guidelines regarding aircraft occupancy or hygiene in response to outbreaks of illness, such as occurred during the COVID-19 pandem...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. airspace serving key airports in the U.S. or overseas could have a material adverse effect on our business, results of operations and financial condition. In addition, the ATC system is not successf...