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American Airlines Group Inc. (AAL) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, June 30, 2021

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, July 22, 2021
AMERICAN AIRLINES REPORTS SECOND-QUARTER 2021 FINANCIAL RESULTS
Record liquidity and confidence in recovery drive accelerated deleveraging
FORT WORTH, Texas –– American Airlines Group Inc. (NASDAQ: AAL) today reported its second-quarter 2021 financial results, including:
Second-quarter net profit of $19 million, or $0.03 per diluted share. Excluding net special items1, second-quarter net loss of $1.1 billion, or ($1.69) per share.
Second-quarter revenue of $7.5 billion, up 87% sequentially from the first quarter of 2021.
Ended the second quarter with approximately $21.3 billion of total available liquidity, a record for the Company.
Accelerated the deleveraging process with prepayment of $950 million spare parts term loan.
Company plans to pay down approximately $15 billion of debt by the end of 2025.
“We have taken a number of steps to solidify our business through our Green Flag Plan and it shows in our second-quarter results,” said American’s Chairman and CEO Doug Parker. “We have reshaped our network, simplified our fleet and made our cost structure more efficient, all to create an airline that will outperform competitors and deliver for customers. The green flag has dropped and we are ready thanks to the tremendous efforts and dedication of the American Airlines team.”
American is committed to strengthening its business and returning to profitability by focusing on its three strategic objectives: Create a world-class customer experience, make culture a competitive advantage and build American to thrive forever.
To create a world-class customer experience, American:
Plans to operate more than 150 new routes this summer, including several new destinations and greater connectivity in Miami, Austin, Texas, and Orlando, Florida. During the summer season, American expects to fly more than 90% of its domestic seat capacity and 80% of its international seat capacity, in each case as compared to 2019.
Scheduled 10 new domestic and four new international destinations from Austin for this fall as a result of increased customer demand. American and its partners will offer the most options in Austin this fall, with nearly 100 peak day departures.


The following information was filed by American Airlines Group Inc. (AAL) on Thursday, July 22, 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-Q Quarterly 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-Q Quarterly Report

Cover
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Cash Flows (Parenthetical)
Condensed Consolidated Statements Of Comprehensive Income (Loss)
Condensed Consolidated Statements Of Operations
Condensed Consolidated Statements Of Stockholders' Deficit
Condensed Consolidated Statements Of Stockholders' Deficit (Parenthetical)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (Tables)
Accumulated Other Comprehensive Loss - Components Of Aoci (Details)
Accumulated Other Comprehensive Loss - Reclassifications Out Of Aoci (Details)
Basis Of Presentation And Recent Accounting Pronouncements
Basis Of Presentation And Recent Accounting Pronouncements (Details)
Basis Of Presentation And Recent Accounting Pronouncements (Policies)
Debt
Debt (Tables)
Debt - Components Of Long-Term Debt (Details)
Debt - Narrative (Details)
Debt - Schedule Of Line Of Credit (Details)
Earnings (Loss) Per Common Share
Earnings (Loss) Per Common Share (Details)
Earnings (Loss) Per Common Share (Tables)
Employee Benefit Plans
Employee Benefit Plans (Details)
Employee Benefit Plans (Tables)
Employee Benefit Plans - Narrative (Details)
Fair Value Measurements (Tables)
Fair Value Measurements - Schedule Of Carrying Value And Estimated Fair Value Of Long-Term Debt, Including Current Maturities (Details)
Fair Value Measurements - Summary Of Assets Measured At Fair Value On Recurring Basis (Details)
Fair Value Measurements And Other Investments
Fair Value Measurements And Other Investments - Narrative (Details)
Income Taxes
Income Taxes (Details)
Legal Proceedings
Legal Proceedings (Details)
Regional Expenses
Regional Expenses (Details)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Changes In Loyalty Program Liability (Details)
Revenue Recognition - Narrative (Details)
Revenue Recognition - Passenger Revenue By Geographic Region (Details)
Revenue Recognition - Significant Categories Of Reported Operating Revenues (Details)
Revenue Recognition - Significant Contract Liabilities (Details)
Special Items, Net
Special Items, Net (Details)
Special Items, Net (Tables)
Subsequent Events
Subsequent Events (Details)
Transactions With Related Parties
Transactions With Related Parties (Details)
Transactions With Related Parties (Tables)
Ticker: AAL
CIK: 6201
Form Type: 10-Q Quarterly Report
Accession Number: 0000006201-21-000080
Submitted to the SEC: Thu Jul 22 2021 9:26:09 AM EST
Accepted by the SEC: Thu Jul 22 2021
Period: Wednesday, June 30, 2021
Industry: Air Transportation Scheduled

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