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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.
4 Revolving Facility
1,631
April 2016 Revolving Facility
446
Short-term Revolving and Other Facilities
220
Total
3,033
As of December 31, 2022, American had an undrawn $150 million short-term... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
and certain loyalty program assets.
149
Table of Contents
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS OF AMERICAN AIRLINES, INC.
At December 31, 2022, the maturities of long-term debt are as foll... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
and Restated Credit and Guaranty Agreement, amending the Amended and Restated Credit and Guaranty Agreement dated as of May 21, 2015 (as previously amended, the 2013 Credit Agreement; the revolving ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
3 Revolving Facility to October 2024 from October 2023. As of December 31, 2022, there were no borrowings or letters of credit outstanding under the 2013 Revolving Facility.
2014 Credit Facilities
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2014 Term Loan Facility, the 2014 Credit Facilities), which increased the total aggregate commitments under the 2014 Revolving Facility to $1.6 billion from $1.5 billion. In addition, certain lender... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, the April 2016 Revolving Facility), which increased the total aggregate commitments under the April 2016 Revolving Facility to $450 million from $300 million. In addition, certain lenders party to ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Credit and Guaranty Agreement, dated as of December 15, 2016 (as amended, the December 2016 Credit Agreement; the term loan facility established thereunder, the December 2016 Term Loan Facility; and... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
shown in the table below as of December 31, 2022:
2013 Credit Facilities
2014 Credit Facilities
2013 Term Loan
2013 Revolving Facility
2014 Term Loan
2014 RevolvingFacility
April 2016 Revolvi... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
margin
1.75%
2.00%
1.75%
2.00%
2.00%
The term loans under each of the Credit Facilities are repayable in annual installments in an amount equal to 1.00% of the aggregate principal amount issue... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
and $200 million, respectively. The 2013 Revolving Facility, 2014 Revolving Facility and April 2016 Revolving Facility are each subject to an undrawn annual fee of 0.63%.
Subject to certain limitat... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
ness.
(b) Senior Secured Notes
11.75% Senior Secured Notes
The 11.75% Senior Secured Notes are American’s senior secured obligations. Subject to certain limitations and exceptions, the 11.75% Seni... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
on a second-lien basis by security interests
151
Table of Contents
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS OF AMERICAN AIRLINES, INC.
in certain assets, rights and properties utilized by Amer... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
may redeem the 11.75% Senior Secured Notes, in whole at any time or in part from time to time, at a redemption price equal to 100% of the principal amount of the 11.75% Senior Secured Notes being re... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Reagan Washington National airports and certain other assets (the LGA/DCA Collateral and together with the IP Collateral, the 10.75% Senior Secured Notes Collateral). Subject to certain conditions, ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
alty Issuer and, together with American, the AAdvantage Issuers), completed the offering of $3.5 billion aggregate principal amount of 5.50% Senior Secured Notes due 2026 (the 2026 Notes) and $3.0 bi... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
y agreement, dated March 24, 2021, providing for a $3.5 billion term loan facility (the AAdvantage Term Loan Facility and collectively with the AAdvantage Notes, the AAdvantage Financing) and pursuan... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, the AAdvantage Notes, AAdvantage Loans and AAdvantage Guarantees provided by the SPV Guarantors are secured by a first-priority security interest in, and pledge of, various agreements with respect ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Collateral).
Payment Terms of the AAdvantage Notes and AAdvantage Loans under the AAdvantage Term Loan Facility
Interest on the AAdvantage Notes is payable in cash, quarterly in arrears on the 20t... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2029 Notes will be repaid in quarterly installments of $250 million on each AAdvantage Payment Date, beginning on July 20, 2026.
The AAdvantage Issuers may redeem the AAdvantage Notes, at their opti... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
% per annum), plus a margin of 4.75% per annum, payable on each AAdvantage Payment Date. The outstanding principal on the AAdvantage Loans will be repaid in quarterly installments of $175 million, on... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
The AAdvantage Indenture and the AAdvantage Term Loan Facility contain mandatory prepayment provisions triggered upon (i) the issuance or incurrence by Loyalty Issuer or the SPV Guarantors of certain... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
EETCs
2021-1 Aircraft EETCs
In November 2021, American created two pass-through trusts which issued $960 million aggregate face amount of Series 2021-1 Class A and Class B EETCs (the 2021-1 Aircra... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
had been used to purchase equipment notes issued by American in connection with the financing of 21 aircraft under the 2021-1 Aircraft EETCs. As of December 31, 2022, there are no remaining proceeds... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
C equipment notes, as of December 31, 2022, is set forth in the table below:
2021-1 Aircraft EETCs
Series A
Series B
Aggregate principal issued
$758 million
$202 million
Fixed interest rate pe... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
% as of December 31, 2022.
(f) Special Facility Revenue Bonds
In January 2020, American and British Airways announced the start of construction projects to upgrade New York's JFK Terminal 8. The co... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
service on the 2021 JFK Bonds through payments under a loan agreement with NYTDC (as amended), and American and AAG guarantee the 2021 JFK Bonds. American continues to pay debt service on the outsta... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
and financial covenants that, among other things, may restrict the ability of American to incur additional indebtedness. American’s debt agreements also contain customary change of control provision... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Contents
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS OF AMERICAN AIRLINES, INC.
falls below a specified threshold, as the case may be, American will be required, as applicable, to pledge additional... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
with a certain threshold may result in early repayment, in whole or in part, of the AAdvantage Financing.
Specifically, American is required to meet certain collateral coverage tests for its Credit... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
)
LTV as of Last Measurement Date
34.4%
17.8%
Not Applicable
7.2%
32.5%
Collateral Description
Generally, certain slots, route authorities and airport gate leasehold rights used by American t... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
certain services between the U.S. and the Caribbean, Central America and various other countries
At December 31, 2022, American was in compliance with the applicable collateral coverage tests as of... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
applicable under such agreements. These rates and charges also vary with American’s level of operations and the operations of the airport. Because of the variable nature of these rates, these leases... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
lease cost
2,572
2,461
1,786
Total net lease cost
4,740
4,610
3,859
155
Table of Contents
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS OF AMERICAN AIRLINES, INC.
Included in the table above... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
ROU assets and lease return costs resulting from its decision to retire certain leased aircraft earlier than planned driven by the severe decline in air travel due to the COVID-19 pandemic.
Supplem... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
and equipment, net
569
548
Current finance lease liabilities
209
174
Noncurrent finance lease liabilities
535
563
Total finance lease liabilities
744
737
Weighted average remaining lease... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases
1,968
2,040
2,015
Operating cash flows from finance leases
46
37
39
Financi... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
3
1,933
257
2024
1,649
204
2025
1,313
141
2026
1,045
115
2027
858
69
2028 and thereafter
3,890
87
Total lease payments
10,688
873
Less: Imputed interest
(2,727)
(129)
Total le... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2024 with lease terms of 10 years.
5. Income Taxes
The significant components of the income tax provision (benefit) were (in millions):
Year Ended December 31,
2022
2021
2020
Current income ta... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
The income tax provision (benefit) differed from amounts computed at the statutory federal income tax rate as follows (in millions):
Year Ended December 31,
2022
2021
2020
Statutory income tax p... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Operating loss and other carryforwards
4,492
4,476
Loyalty program liability
1,809
1,903
Leases
1,804
1,822
Pensions
467
934
Postretirement benefits other than pensions
179
215
Rent ex... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
(6,676)
(6,752)
Net deferred tax asset
2,885
3,400
At December 31, 2022, American had approximately $16.1 billion of gross federal net operating losses (NOLs) and $3.5 billion of other carryforw... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2042 if unused.
American’s ability to use its NOLs and other carryforwards depends on the amount of taxable income generated in future periods. American provides a valuation allowance for its deferr... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
its deferred tax assets. There can be no assurance that an additional valuation allowance on American’s net deferred tax assets will not be required. Such valuation allowance could be material.
Ame... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
such limitation. Similar limitations may apply for state income tax purposes. American’s ability to utilize any new NOL carryforwards arising after the ownership changes is not affected by the annua... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2, which among other provisions, introduced a corporate minimum tax on certain corporations with average adjusted financial statement income over a three-tax year period in excess of $1.0 billion, an... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
foreign jurisdiction tax years remain open to examination and American is under examination, in administrative appeals, or engaged in tax litigation in certain jurisdictions. American believes that ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
for the asset or liability. Accounting standards include disclosure requirements around fair values used for certain financial instruments and establish a fair value hierarchy. The hierarchy priorit... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
quoted market prices are not available, American measures fair value using valuation techniques that use, when possible, current market-based or independently-sourced market parameters, such as inte... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
on a recurring basis are summarized below (in millions):
Fair Value Measurements as of December 31, 2022
Total
Level 1
Level 2
Level 3
Short-term investments (1), (2):
Money market funds
731... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
1
Total
Level 1
Level 2
Level 3
Short-term investments (1):
Money market funds
106
106
Corporate obligations
8,665
8,665
Bank notes/certificates of deposit/time deposits
2,194
2,194
Re... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
. There were no credit losses.
(2)
American’s short-term investments as of December 31, 2022 mature in one year or less.
(3)
Restricted cash and short-term investments primarily include collatera... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Value of Debt
The fair value of American’s long-term debt was estimated using quoted market prices or discounted cash flow analyses based on American’s current estimated incremental borrowing rates... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS OF AMERICAN AIRLINES, INC.
7. Investments
To help expand American’s network and as part of its ongoing commitment to sustainability, American enters into ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Republic Holdings
Equity Method
25.0
25.0
222
202
China Southern Airlines
Fair Value
1.5
1.8
176
163
Other investments (a)
Various
212
83
Total
610
448
(a)
Other investments
Othe... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
based on relative fair values: $81 million to the preferred shares, which is reflected within other assets, and $119 million to the indefinite-lived intangible asset derived from the related commerc... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
sponsors defined benefit and defined contribution pension plans for eligible employees. The defined benefit pension plans provide benefits for participating employees based on years of service and a... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
1, 2012, transitioned from a self-insured plan to a fully-insured Medicare Advantage plan. Benefits coverage has not been reduced and cost shared has not changed as a result of this transition. Due t... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
AMERICAN AIRLINES, INC.
Benefit Obligations, Fair Value of Plan Assets and Funded Status
The following tables provide a reconciliation of the changes in the pension and retiree medical and other p... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2)
(4,534)
(606)
(167)
(57)
Special termination benefits (3)
139
Other
(1)
Benefit payments
(864)
(818)
(74)
(72)
Benefit obligation at end of period
13,948
18,791
906
1,098
Fair v... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
11,821
14,605
133
167
Funded status at end of period
(2,127)
(4,186)
(773)
(931)
(1)
The 2022 and 2021 pension actuarial gain primarily relates to the change in American’s weighted averag... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
early retirement programs offered as a result of reductions to its operation due to the COVID-19 pandemic. As a result, during 2021, American recognized a $139 million special charge for these enhan... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
85
90
Noncurrent liability
2,123
4,179
688
841
Total liabilities
2,127
4,186
773
931
162
Table of Contents
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS OF AMERICAN AIRLINES, INC.
Pensi... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
)
(563)
Plans with Projected Benefit Obligations Exceeding Fair Value of Plan Assets
Pension Benefits
2022
2021
(In millions)
Projected benefit obligation
13,948
18,791
Fair value of plan a... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
ic Benefit Cost (Income)
Pension Benefits
Retiree Medical and Other Postretirement Benefits
2022
2021
2020
2022
2021
2020
(In millions)
Defined benefit plans:
Service cost
16
12
Intere... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
(30)
(24)
(24)
Net periodic benefit cost (income)
(394)
(313)
(187)
(10)
132
278
The service cost component of net periodic benefit cost (income) is included in operating expenses, the co... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Retiree Medical andOther Postretirement Benefits
2022
2021
2022
2021
Benefit obligations:
Weighted average discount rate
5.6%
3.0%
5.7%
2.8%
Pension Benefits
Retiree Medical andOther Po... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
%
8.0%
Weighted average health care cost trend rate assumed for next year (1)
N/A
N/A
N/A
5.8%
4.8%
4.0%
(1)
The weighted average health care cost trend rate at December 31, 2022 is assumed... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
assets achieved over the last 10 years, current and expected market conditions, and expected value to be generated through active management and securities lending programs.
Minimum Contributions
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
.
Benefit Payments
The following benefit payments, which reflect expected future service as appropriate, are expected to be paid (approximately, in millions):
2023
2024
2025
2026
2027
2028-20... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
of return for plan assets; limit the volatility of asset performance and funded status; and diversify assets among asset classes and investment managers.
Based on these investment objectives, a lon... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Private Equity
5% - 30%
Fixed Income
20% - 55%
Public:
U.S. Long Duration
15% - 45%
High Yield and Emerging Markets
0% - 10%
Private Income
0% - 15%
Other
0% - 5%
Cash Equivalents
0% - ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
by assuming reduced levels of liquidity and higher levels of risk. The pension plan’s master trust participates in securities lending programs to generate additional income by loaning plan assets to... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
proportionate share of the estimated fair value of the underlying assets of the limited partnerships. Mutual funds are valued once daily through a NAV calculation provided at the end of each trade d... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
31, 2022
December 31, 2021
Level 1
Level 2
Level 3
Total
Level 1
Level 2
Level 3
Total
Equity (2)
3,055
3,055
4,583
4,589
Fixed income (3)
206
2,917
3,123
153
3,994
4,147
Other... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
11,821
4,870
4,336
58
14,605
(1)
See Note 6 for a description of the levels within the fair value hierarchy.
(2)
Equity investments include domestic and international common stock, preferred ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
ient that have not been classified in the fair value hierarchy.
(6)
Common collective trusts include commingled funds primarily invested in equity securities. For some trusts, requests for withdraw... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
five years.
Changes in fair value measurements of Level 3 investments during the years ended December 31, 2022 and 2021, were as follows (in millions):
2022
2021
Balance at beginning of year
58... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
the end of the period. NAV is based on the fair market value of the funds’ underlying assets and liabilities at the date of determination.
166
Table of Contents
NOTES TO CONSOLIDATED FINANCIAL ST... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
46 million, $43 million and $40 million for the years ended December 31, 2022, 2021 and 2020, respectively. The IAM Pension Fund reported $507 million in employers’ contributions for the year ended D... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
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 so on April 17, 2019 (the... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
,RetireeMedical andOtherPostretirementBenefits
Unrealized Loss on Investments
Income Tax Provision (1)
Total
Balance at December 31, 2020
(6,215)
(2)
(977)
(7,194)
Other comprehensive income... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
)
(363)
1,243
Amounts reclassified from AOCI
140
(32)
(2)
108
Net current-period other comprehensive income (loss)
1,750
(4)
(395)
1,351
Balance at December 31, 2022
(2,974)
(6)
(1,71... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
out of AOCI for the years ended December 31, 2022 and 2021 are as follows (in millions):
Amounts reclassified from AOCI
Affected line items on theconsolidated statements ofoperations
Year Ended D... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
INC.
Amounts allocated to other comprehensive income (loss) for income taxes will remain in AOCI until American ceases all related activities, such as termination of the pension plan.
10. Commitme... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
These amounts are net of purchase deposits currently held by the manufacturers. American’s purchase deposits held by all manufacturers totaled $613 million and $517 million as of December 31, 2022 an... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
4, for which American has obtained committed lease financing. See Note 4 for information regarding this operating lease commitment.
(b) Capacity Purchase Agreements with Third-Party Regional Carrier... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
of December 31, 2022, American’s capacity purchase agreements with third-party regional carriers had expiration dates ranging from 2023 to 2033, with rights of American to extend the respective term... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
carriers. These commitments are estimates of costs based on assumed minimum levels of flying under the capacity purchase agreements and American’s actual payments could differ materially. Excludes r... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
at LAX where it has legal title to the assets during construction. In 2018, American executed a lease agreement with Los Angeles World Airports (LAWA), which owns and operates LAX, in connection wit... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
4 South concourse with more open and upgraded amenities at gate areas. The project will also include renovated break rooms, multi-use meeting rooms and team gathering spaces throughout the terminals ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
has incurred approximately $579 million in costs relating to the LAX modernization project, of which $241 million were incurred in 2022 and have been included within operating property and equipment... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
not yet ready for use, and therefore have not been sold and transferred back to LAWA. These proceeds are currently included in other accrued liabilities and noncurrent other liabilities on American’... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Terminal 8, (iv) improvements to the premium passenger lounges, check-in and, potentially, security access areas, and (v) bathroom refreshment, new signage, and other upgrades. The construction proj... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
60 owned spare aircraft engines, which in each case were financed with EETCs issued by pass-through trusts. These trusts are off-balance sheet entities, the primary purpose of which is to finance the... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
The trusts have also been structured to provide for certain credit enhancements, such as liquidity facilities to cover certain
169
Table of Contents
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS OF ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
until financing of the applicable aircraft following its delivery) to purchase equipment notes relating to the financed aircraft or engines. The equipment notes are issued, at American’s election, i... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
such as letters of credit and surety bonds, primarily to support airport commitments. As of December 31, 2022, American had $218 million of letters of credit and surety bonds securing various obliga... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
were consolidated in the Federal District Court for the District of Columbia (the DC Court). On June 15, 2018, American reached a settlement agreement with the plaintiffs in the amount of $45 millio... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
States Bankruptcy Court for the Southern District of New York (Bankruptcy Court). The complaint named as defendants US Airways Group, US Airways, Inc., AMR Corporation and American, alleged that the... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
presented before the Bankruptcy Court in a bench trial in March 2019 and the parties submitted proposed findings of fact and conclusions of law and made closing arguments in April 2019. On January 2... |
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