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American Airlines Group Inc. (AAL) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

American Airlines Group Inc.

CIK: 6201 Ticker: AAL

Exhibit 99.1

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Corporate Communications
  mediarelations@aa.com
Investor Relations
investor.relations@aa.com
FOR RELEASE: Thursday, Jan. 28, 2021
AMERICAN AIRLINES REPORTS FOURTH-QUARTER
AND FULL-YEAR 2020 FINANCIAL RESULTS
FORT WORTH, Texas –– American Airlines Group Inc. (NASDAQ: AAL) today reported its fourth-quarter and full-year 2020 financial results, including:
Fourth-quarter revenue of $4.0 billion, down 64% year over year on a 53% year-over-year reduction in total available seat miles (ASMs).
Fourth-quarter net loss of $2.2 billion, or ($3.81) per share. Excluding net special items1, fourth-quarter net loss was $2.2 billion, or ($3.86) per share.
Full-year net loss of $8.9 billion, or ($18.36) per share. Excluding net special items2, full-year net loss was $9.5 billion, or ($19.66) per share.
Ended fourth quarter with approximately $14.3 billion of total available liquidity. Company expects to end the first quarter of 2021 with approximately $15.0 billion in total available liquidity.
Incorporated more than $1.3 billion of permanent non-volume, non-fuel efficiency cost-saving measures into 2021 operating plan.

“Our fourth-quarter financial results close out the most challenging year in our company’s history,” said American Airlines Chairman and CEO Doug Parker. “However, we couldn’t be prouder of the American Airlines team and the great things they accomplished last year. Through collaboration, resourcefulness and hard work, our team did its part to keep the economy moving. The American team flew more customers than any other airline in 2020, and they did so safely and with the utmost care.

“As we look to the year ahead, 2021 will be a year of recovery. While we don’t know exactly when passenger demand will return, as vaccine distribution takes hold and travel restrictions are lifted, we will be ready. We are confident that the actions we have taken to improve our customer experience, enhance our network and increase our efficiency position us well for the future.”

American took a number of steps in 2020 to respond to the pandemic and strengthen its business, with an emphasis on supporting its team members, customers and communities; reducing costs; and improving its liquidity position.


The following information was filed by American Airlines Group Inc. (AAL) on Thursday, January 28, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows (Parenthetical)
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity (Deficit)
Consolidated Statements Of Stockholders' Equity (Deficit) (Parenthetical)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (Tables)
Accumulated Other Comprehensive Loss - Components Of Accumulated Other Comprehensive Loss (Aoci) (Details)
Accumulated Other Comprehensive Loss - Reclassifications Out Of Aoci (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies
Basis Of Presentation And Summary Of Significant Accounting Policies (Policies)
Basis Of Presentation And Summary Of Significant Accounting Policies (Tables)
Basis Of Presentation And Summary Of Significant Accounting Policies - Additional Information (Detail)
Basis Of Presentation And Summary Of Significant Accounting Policies - Changes In Loyalty Program Liability (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Definite-Lived Intangible Assets (Detail)
Basis Of Presentation And Summary Of Significant Accounting Policies - Definite-Lived Intangible Assets Amortization Expense (Detail)
Basis Of Presentation And Summary Of Significant Accounting Policies - Operating Property And Equipment (Detail)
Basis Of Presentation And Summary Of Significant Accounting Policies - Passenger Revenue By Geographic Region (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Regional Expenses (Detail)
Basis Of Presentation And Summary Of Significant Accounting Policies - Significant Categories Of Reported Operating Revenues (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Significant Contract Liabilities (Details)
Commitments, Contingencies And Guarantees
Commitments, Contingencies And Guarantees (Tables)
Commitments, Contingencies And Guarantees - Additional Information (Details)
Commitments, Contingencies And Guarantees - Aircraft, Engine And Other Purchase Commitments (Details)
Commitments, Contingencies And Guarantees - Capacity Purchase Agreements (Details)
Debt
Debt (Tables)
Debt - 10.75% Senior Secured Notes (Details)
Debt - 2013, 2014 And 2016 Credit Facilities (Details)
Debt - 6.50% Convertible Senior Notes (Details)
Debt - Collateral-Related Covenants (Details)
Debt - Components Of Long-Term Debt (Details)
Debt - Delayed Draw Term Loan Credit Facility And 11.75% Secured Senior Notes (Details)
Debt - Eetcs (Details)
Debt - Eetcs - Certain Information (Details)
Debt - Equipment Loans And Other Notes Payable Issued In 2020 (Details)
Debt - Guarantees (Details)
Debt - Psp1 Promissory Note (Details)
Debt - Schedule Of 6.5% Convertible Senior Notes (Details)
Debt - Schedule Of Maturities Of Long-Term Debt (Details)
Debt - Special Facility Revenue Bonds (Details)
Debt - Summary Of Availability Under Revolving Credit Facilities (Details)
Debt - Treasury Loan Agreement (Details)
Debt - Unsecured Senior Notes (Details)
Earnings (Loss) Per Common Share
Earnings (Loss) Per Common Share (Details)
Earnings (Loss) Per Common Share (Tables)
Employee Benefit Plans
Employee Benefit Plans (Tables)
Employee Benefit Plans - Additional Information (Details)
Employee Benefit Plans - Changes In Fair Value Measurements Of Level 3 Investments (Details)
Employee Benefit Plans - Components Of Net Periodic Benefit Cost (Income) (Details)
Employee Benefit Plans - Defined Contribution And Multiemployer Plans (Details)
Employee Benefit Plans - Fair Values Of Retiree Medical And Other Postretirement Benefit Plans Assets By Asset Category (Details)
Employee Benefit Plans - Profit Sharing Program (Details)
Employee Benefit Plans - Schedule Of Accumulated Benefit Obligations Exceeding Fair Value Of Plan Assets (Details)
Employee Benefit Plans - Schedule Of Allocation Of Plan Assets (Details)
Employee Benefit Plans - Schedule Of Amounts Recognized In Consolidated Balance Sheets (Details)
Employee Benefit Plans - Schedule Of Amounts Recognized In Other Comprehensive Income (Details)
Employee Benefit Plans - Schedule Of Assumption Used To Determine Benefit Obligations (Details)
Employee Benefit Plans - Schedule Of Changes In Fair Value Of Plan Assets (Details)
Employee Benefit Plans - Schedule Of Changes In Projected Benefit Obligations (Details)
Employee Benefit Plans - Schedule Of Expected Future Service Benefit Payments (Details)
Employee Benefit Plans - Schedule Of Fair Value Of Pension Plan Assets By Asset Category (Details)
Employee Benefit Plans - Schedule Of Fair Value Of Pension Plan Assets By Asset Category - Additional Information (Details)
Fair Value Measurements And Other Investments
Fair Value Measurements And Other Investments (Tables)
Fair Value Measurements And Other Investments - Other Investments (Details)
Fair Value Measurements And Other Investments - Schedule Of Carrying Value And Estimated Fair Value Of Long-Term Debt, Including Current Maturities (Details)
Fair Value Measurements And Other Investments - Summary Of Assets Measured At Fair Value On Recurring Basis (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Disclosures (Details)
Income Taxes - Components Of Income Tax Provision (Benefit) (Details)
Income Taxes - Deferred Tax Assets And Liabilities (Details)
Income Taxes - Reconciliation Of Income Tax Provision (Details)
Leases
Leases (Tables)
Leases - Additional Information (Details)
Leases - Components Of Lease Expense (Details)
Leases - Maturities Of Lease Liabilities (Details)
Leases - Supplemental Balance Sheet Information (Details)
Leases - Supplemental Cash Flow And Other Information (Details)
Operating Segments And Related Disclosures
Operating Segments And Related Disclosures (Details)
Quarterly Financial Data (Unaudited)
Quarterly Financial Data (Unaudited) (Tables)
Quarterly Financial Data - Additional Information (Details)
Quarterly Financial Data - Summarized Financial Data (Details)
Risk Management
Risk Management (Details)
Share Based Compensation - Additional Information (Details)
Share Based Compensation - Restricted Stock Unit Awards (Details)
Share Repurchase Programs And Dividends
Share Repurchase Programs And Dividends - Dividends (Details)
Share Repurchase Programs And Dividends - Share Repurchase Programs (Details)
Share-Based Compensation
Share-Based Compensation (Tables)
Special Items, Net
Special Items, Net (Details)
Special Items, Net (Tables)
Subsequent Event (Details)
Subsequent Events
Supplemental Cash Flow Information
Supplemental Cash Flow Information (Details)
Supplemental Cash Flow Information (Tables)
Transactions With Related Parties
Transactions With Related Parties (Tables)
Transactions With Related Parties - Additional Information (Details)
Transactions With Related Parties - Net Receivables (Payables) To Related Parties (Details)
Valuation And Qualifying Accounts
Valuation And Qualifying Accounts (Details)
Valuation And Qualifying Accounts (Tables)
Ticker: AAL
CIK: 6201
Form Type: 10-K Annual Report
Accession Number: 0000006201-21-000014
Submitted to the SEC: Wed Feb 17 2021 5:17:57 PM EST
Accepted by the SEC: Wed Feb 17 2021
Period: Thursday, December 31, 2020
Industry: Air Transportation Scheduled

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