AAL American Airlines

American Airlines Group Inc. is the parent company of American Airlines. Together with regional partner American Eagle, American Airlines offers an average of nearly 6,700 flights daily to 350 destinations in 50 countries. American Airlines is a founding member of the oneworld® alliance, whose members and members-elect offer nearly 14,250 flights daily to 1,000 destinations in 150 countries.
Company profile
Ticker
AAL
Exchange
Website
CEO
Thomas Horton
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
AMR CORP
SEC CIK
Corporate docs
IRS number
751825172
AAL stock data
()
Calendar
17 Feb 21
12 Apr 21
31 Dec 21
Financial summary
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Financial data from company earnings reports.
Cash burn rate (estimated) | Burn method: Change in cash | Burn method: Operating income/loss | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 399M | 399M | 399M | 399M | 399M | 399M |
Cash burn (monthly) | (positive/no burn) | (positive/no burn) | 936.33M | 954.42M | 954.33M | 545.25M |
Cash used (since last report) | n/a | n/a | 3.2B | 3.26B | 3.26B | 1.86B |
Cash remaining | n/a | n/a | -2.8B | -2.86B | -2.86B | -1.46B |
Runway (months of cash) | n/a | n/a | -3.0 | -3.0 | -3.0 | -2.7 |
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Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
20 Feb 21 | Brown Adriane M | Common Stock | Grant | Aquire A | No | No | 0 | 2,375 | 0 | 2,375 |
19 Feb 21 | Isom Robert D Jr | Common Stock | Payment of exercise | Dispose F | No | No | 18.68 | 9,809 | 183.23K | 1,059,038 |
19 Feb 21 | Johnson Stephen L | Common Stock | Payment of exercise | Dispose F | No | No | 18.68 | 3,220 | 60.15K | 816,942 |
19 Feb 21 | Leibman Maya | Common Stock | Payment of exercise | Dispose F | No | No | 18.68 | 3,220 | 60.15K | 441,418 |
18 Feb 21 | Isom Robert D Jr | Common Stock | Payment of exercise | Dispose F | No | No | 17.71 | 16,705 | 295.85K | 1,068,847 |
18 Feb 21 | Johnson Stephen L | Common Stock | Payment of exercise | Dispose F | No | No | 17.71 | 8,393 | 148.64K | 820,162 |
18 Feb 21 | Leibman Maya | Common Stock | Payment of exercise | Dispose F | No | No | 17.71 | 8,392 | 148.62K | 444,638 |
Financial report summary
?Risks
- Downturns in economic conditions could adversely affect our business.
- We will need to obtain sufficient financing or other capital to operate successfully.
- 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 to competitive developments and cause our business to be vulnerable to adverse economic and industry conditions.
- We have significant pension and other postretirement benefit funding obligations, which may adversely affect our liquidity, results of operations and financial condition.
- If our financial condition worsens, provisions in our credit card processing and other commercial agreements may adversely affect our liquidity.
- The loss of key personnel upon whom we depend to operate our business or the inability to attract and develop additional qualified personnel could adversely affect our business.
- Our business has been and will continue to be affected by many changing economic and 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.
- Union disputes, employee strikes and other labor-related disruptions, or our inability to otherwise maintain labor costs at competitive levels may adversely affect our operations and financial performance.
- 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 decline in revenue or negative public perception about our services.
- Any damage to our reputation or brand image could adversely affect our business or financial results.
- We are at risk of losses and adverse publicity stemming from any public incident involving our company, our people or our brand, including any accident or other public incident involving our personnel or aircraft, or the personnel or aircraft of our regional, codeshare or joint business operators.
- We face challenges in integrating our computer, communications and other technology systems.
- Changes to our business model that are designed to increase revenues may not be successful and may cause operational difficulties or decreased demand.
- 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 may be a party to litigation in the normal course of business or otherwise, which could affect our financial position and liquidity.
- Our ability to utilize our NOL Carryforwards may be limited.
- We have a significant amount of goodwill, which is assessed for impairment at least annually. In addition, we may never realize the full value of our intangible assets or long-lived assets, causing us to record material impairment charges.
- The commercial relationships that we have with other airlines, including any related equity investment, may not produce the returns or results we expect.
- Our business is very dependent on the price and availability of aircraft fuel. Continued 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 results and liquidity.
- Our business is subject to extensive government regulation, which may result in increases in our costs, disruptions to our operations, limits on our operating flexibility, reductions in the demand for air travel, and competitive disadvantages.
- We operate a global business with international operations that are subject to economic and political instability and have been, and in the future may continue to be, adversely affected by numerous events, circumstances or government actions beyond our control.
- We may be adversely affected by conflicts overseas or terrorist attacks; the travel industry continues to face ongoing security concerns.
- We are subject to many forms of environmental and noise regulation and may incur substantial costs as a result.
- We depend on a limited number of suppliers for aircraft, aircraft engines and parts.
- Delays in scheduled aircraft deliveries or other loss of anticipated fleet capacity, and failure of new aircraft to perform as expected, may adversely impact our business, results of operations and financial condition.
- We rely heavily on technology and automated systems to operate our business, and any failure of these technologies or systems could harm our business, results of operations and financial condition.
- Evolving data security and privacy requirements could increase our costs, and any significant data security incident could disrupt our operations, harm our reputation, expose us to legal risks and otherwise materially adversely affect our business, results of operations and financial condition.
- We rely on third-party distribution channels and must manage effectively the costs, rights and functionality of these channels.
- If we are unable to obtain and maintain adequate facilities and infrastructure throughout our system and, at some airports, adequate slots, we may be unable to operate our existing flight schedule and to expand or change our route network in the future, which may have a material adverse impact on our operations.
- Interruptions or disruptions in service at one of our key facilities could have a material adverse impact on our operations.
- A higher than normal number of pilot retirements, more stringent duty time regulations, increased flight hour requirement for commercial airline pilots, reductions in the number of military pilots entering the commercial workforce, increased training requirements and other factors have caused a shortage of pilots that could materially adversely affect our business.
- Increases in insurance costs or reductions in insurance coverage may adversely impact our operations and financial results.
- The airline industry is heavily taxed.
- We have ceased making repurchases of our common stock and paying dividends on our common stock as required by the CARES Act and the PSP Extension Law. Following the end of those restrictions, if we do decide to make repurchases of or pay dividends on our common stock, we cannot guarantee that we will continue to do so or that our capital deployment program will enhance long-term stockholder value.
- AAG’s Certificate of Incorporation and Bylaws include provisions that limit voting and acquisition and disposition of our equity interests.
- Certain provisions of AAG’s Certificate of Incorporation and Bylaws make it difficult for stockholders to change the composition of our Board of Directors and may discourage takeover attempts that some of our stockholders might consider beneficial.
- The issuance or sale of shares of our common stock, rights to acquire shares of our common stock, or warrants issued to Treasury under the CARES Act, the PSP Extension Law, PSP1, PSP2 and in connection with the loan under the CARES Act, could depress the trading price of our common stock and the Convertible Notes.
Management Discussion
- COVID-19 has been declared a global health pandemic by the World Health Organization. COVID-19 has surfaced in nearly all regions of the world, which has driven the implementation of significant, government-imposed measures to prevent or reduce its spread, including travel restrictions, testing regimes, closing of borders, “stay at home” orders and business closures. As a result, we have experienced an unprecedented decline in the demand for air travel, which has resulted in a material deterioration in our revenues. While our business performed largely as expected in January and February of 2020, a severe reduction in air travel starting in March 2020 resulted in our total operating revenues decreasing approximately 62% in 2020 as compared to 2019. While the length and severity of the reduction in demand due to the COVID-19 pandemic is uncertain, we expect our results of operations for 2021 to be severely impacted.
Content analysis
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H.S. junior Avg
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New words:
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Removed:
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Financial reports
10-K
2020 FY
Annual report
17 Feb 21
10-Q
2020 Q3
Quarterly report
22 Oct 20
10-Q
2020 Q2
Quarterly report
23 Jul 20
10-Q
2020 Q1
Quarterly report
30 Apr 20
10-K
2019 FY
Annual report
19 Feb 20
10-Q
2019 Q3
Quarterly report
24 Oct 19
10-Q
2019 Q2
Quarterly report
25 Jul 19
10-Q
2019 Q1
Quarterly report
26 Apr 19
10-K
2018 FY
Annual report
25 Feb 19
10-Q
2018 Q3
Quarterly report
25 Oct 18
Current reports
8-K
Regulation FD Disclosure
31 Mar 21
8-K
Regulation FD Disclosure
29 Mar 21
8-K
Other Events
26 Mar 21
8-K
Entry into a Material Definitive Agreement
24 Mar 21
8-K
Other Events
17 Mar 21
8-K
American Airlines Announces Upsize of Aadvantage Financing to $10.0 Billion and Pricing of Senior Secured Notes
10 Mar 21
8-K
Regulation FD Disclosure
8 Mar 21
8-K
American Airlines Names Adriane M. Brown
22 Feb 21
8-K
Cost Associated with Exit or Disposal Activities
3 Feb 21
8-K
Entry into a Material Definitive Agreement
29 Jan 21
Registration and prospectus
424B7
Prospectus with selling stockholder info
26 Mar 21
424B5
Prospectus supplement for primary offering
29 Jan 21
424B7
Prospectus with selling stockholder info
25 Nov 20
424B5
Prospectus supplement for primary offering
12 Nov 20
424B5
Prospectus supplement for primary offering
10 Nov 20
424B5
Prospectus supplement for primary offering
22 Oct 20
424B5
Prospectus supplement for primary offering
28 Aug 20
424B5
Prospectus supplement for primary offering
23 Jun 20
424B5
Prospectus supplement for primary offering
23 Jun 20
FWP
Free writing prospectus
23 Jun 20
Proxies
DEFA14A
Additional proxy soliciting materials
28 Apr 20
DEF 14A
Definitive proxy
28 Apr 20
DEFA14A
Additional proxy soliciting materials
11 Jun 19
DEFA14A
Additional proxy soliciting materials
29 Apr 19
DEF 14A
Definitive proxy
29 Apr 19
DEFA14A
Additional proxy soliciting materials
30 Apr 18
DEF 14A
Definitive proxy
30 Apr 18
PRE 14A
Preliminary proxy
11 Apr 18
DEF 14A
Definitive proxy
30 Apr 17
DEFA14A
Additional proxy soliciting materials
30 Apr 17
Other
CT ORDER
Confidential treatment order
13 Mar 19
CT ORDER
Confidential treatment order
19 Nov 18
CT ORDER
Confidential treatment order
9 Nov 18
CT ORDER
Confidential treatment order
22 Aug 18
CT ORDER
Confidential treatment order
2 May 18
CT ORDER
Confidential treatment order
14 Mar 18
CT ORDER
Confidential treatment order
7 Sep 17
CT ORDER
Confidential treatment order
24 May 17
UPLOAD
Letter from SEC
3 May 17
CORRESP
Correspondence with SEC
23 Apr 17
Ownership
SC 13G/A
American Airlines / VANGUARD ownership change
12 Apr 21
4
American Airlines / Adriane M Brown ownership change
22 Feb 21
3
American Airlines / Adriane M Brown ownership change
22 Feb 21
4
American Airlines / W DOUGLAS PARKER ownership change
22 Feb 21
4
American Airlines / Stephen L Johnson ownership change
22 Feb 21
4
American Airlines / Maya Leibman ownership change
22 Feb 21
4
American Airlines / Robert D Isom Jr ownership change
22 Feb 21
4
American Airlines / DEREK J KERR ownership change
22 Feb 21
4
American Airlines / ELISE R EBERWEIN ownership change
22 Feb 21
4
American Airlines / Robert D Isom Jr ownership change
18 Feb 21
Patents
GRANT
Utility
Flight number optimization system
9 Mar 21
A method of assigning numbers to flights includes displaying, in a first window that is displayed on a GUI, a slideable scale that receives a pairing preference input that indicates a user preference relating to the classification of flights as thru flights relative to the classification of flights as out-and-back flights.
GRANT
Utility
Thrust reverser cowl rack
19 Jan 21
A rack for holding a portion of a thrust reverser.
GRANT
Utility
System and method for optimally managing aircraft assets
4 Jan 21
A system and method for optimally managing aircraft assets according to which a maintenance activity, costs, and aircraft asset deposition are addressed.
GRANT
Utility
Table-driven data storage system for multi-departure, multi-cabin travel seat inventory optimization
7 Dec 20
A system and method that includes receiving for each passenger: a PNR; a passenger identification number (“PIN”); a passenger's historical itinerary; a fare; and an assigned seat.
APP
Utility
Remapping Flight Leg Bookings
25 Nov 20
A computer based system for determining even-spaced quantiles using class authorization level values and network values.