American Airlines Group Inc. (AAG) is a major network air carrier headquartered in Fort Worth, Texas. The company provides scheduled air transportation for passengers and cargo, serving over 350 destinations worldwide through its extensive fleet and strategic hubs. AAG also operates regional airline subsidiaries and partners with global alliances to enhance its travel offerings.
- Passenger Revenue - Generates income from passenger travel and loyalty programs, including mileage credit redemptions for travel.
- Other Revenue - Earns from loyalty marketing services, such as co-branded credit cards, and miscellaneous revenue streams.
- Cargo Revenue - Provides transportation services for cargo shipments.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
David G. Seymour Executive | Executive Vice President and COO | None | Joined AAL in 2013; extensive operational leadership experience; began career as a U.S. Army airborne infantry officer. | |
Devon E. May Executive | Executive Vice President and CFO | None | Joined AAL in 2013; held various senior finance roles; became CFO in January 2023. | |
Priya R. Aiyar Executive | Executive Vice President and Chief Legal Officer | None | Oversees legal and regulatory matters; previously held senior roles in U.S. government agencies and private law firms. | |
Robert D. Isom Executive | CEO and President | Board Member of Airlines for America; Member of the one world Governing Board | Extensive airline industry experience; pivotal in the merger of US Airways and American Airlines; leads AAL's strategy and operations. | View Report → |
Stephen L. Johnson Executive | Vice Chair and Chief Strategy Officer | Deputy Chair of WIZZ Air Holdings PLC | Played a key role in the merger of US Airways and American Airlines; oversees corporate strategy and commercial organization. | |
Denise O’Leary Board | Independent Director | Director at Medtronic plc; Chair Emerita of the University of Denver; Member of the Smithsonian Institution Board of Regents | Independent director since 2013; significant experience in healthcare and nonprofit organizations. | |
Doug Steenland Board | Independent Director | Senior Advisor to The Blackstone Group; Director at Hilton Worldwide Holdings, Inc. and London Stock Exchange Group | Former CEO of Northwest Airlines; joined AAL's board in 2020; expertise in finance, safety, and regulatory affairs. | |
Greg Smith Board | Independent Chairman of the Board | Board Member of Intel Corporation; Lurie Children’s Hospital Foundation; Northwestern Memorial Healthcare; Sierra Nevada Space | Former CFO and interim CEO of Boeing; joined AAL's board in 2022; became Independent Chairman in April 2023. | |
Howard Ungerleider Board | Independent Director | None | Elected to AAL's board in July 2024; no prior roles within AAL mentioned. | |
Marty Nesbitt Board | Independent Director | Co-CEO of The Vistria Group LLC; Independent Director at Chewy, Inc. and Center Point Energy, Inc.; Chairman of the Barack Obama Foundation | Independent director since 2015; extensive experience in private equity and nonprofit leadership. | |
Vicente Reynal Board | Independent Director | Chairman, President, and CEO of Ingersoll Rand Inc.; Board Member of Ownership Works and United Community Center | Joined AAL's board in 2022; extensive leadership experience in global industrial businesses. |
- Given your plans to grow the international fleet from 120 to 200 aircraft by 2029, including 40 A321neo XLRs, how do you plan to manage the significant capital expenditure involved while also achieving your debt reduction goals? ,
- With your total debt reduction goal achieved a year early and a commitment to reduce total debt to $35 billion by 2027, why haven't you considered returning capital to shareholders in the form of dividends or share buybacks, and what are the gating factors preventing you from doing so? ,
- Your full-year guidance midpoint suggests earnings growth of more than 10% versus 2024, yet some analysts perceive this as conservative given potential upsides in corporate share regain and loyalty programs; can you explain why you believe this guidance appropriately reflects potential risks and opportunities?
- While you've secured new labor agreements that increase costs, are there productivity offsets or efficiency improvements built into these agreements that could help mitigate the impact on unit costs?
- Considering your aging fleet, especially wide-body aircraft, and the challenges with aircraft deliveries, how do you plan to address future fleet replacement needs while maintaining fleet simplification and managing capital expenditures? ,
Research analysts who have asked questions during American Airlines Group earnings calls.
Conor Cunningham
Melius Research
4 questions for AAL
Duane Pfennigwerth
Evercore ISI
4 questions for AAL
Andrew Didora
Bank of America
3 questions for AAL
Catherine O'Brien
Goldman Sachs
3 questions for AAL
Jamie Baker
JPMorgan Chase & Co.
3 questions for AAL
Michael Linenberg
Deutsche Bank
3 questions for AAL
Savanthi Syth
Raymond James
3 questions for AAL
Scott Group
Wolfe Research
3 questions for AAL
Thomas Fitzgerald
TD Cowen
3 questions for AAL
David Vernon
Sanford C. Bernstein & Co., LLC
2 questions for AAL
Ravi Shanker
Morgan Stanley
2 questions for AAL
Stephen Trent
Citigroup Inc.
2 questions for AAL
Atul Maheshwari
UBS Group AG
1 question for AAL
Brandon Oglenski
Barclays
1 question for AAL
Daniel McKenzie
Seaport Global Securities
1 question for AAL
James Baker
JPMorgan Chase & Co.
1 question for AAL
Shannon Doherty
Deutsche Bank
1 question for AAL
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Competes on domestic nonstop routes and offers services that overlap with the company's operations. | |
Allegiant Air | An ultra-low-cost carrier that competes in many of the markets in which the company operates, exerting pricing pressures. |
Competes on domestic nonstop routes and connecting routes via its hubs, offering significant competition. | |
Frontier Airlines | An ultra-low-cost carrier that competes in many of the markets in which the company operates, exerting pricing pressures. |
Hawaiian Airlines | Competes on domestic nonstop routes and offers services that overlap with the company's operations. |
Competes on domestic nonstop routes and offers services that overlap with the company's operations. | |
Competes on domestic nonstop routes and offers services that overlap with the company's operations. | |
An ultra-low-cost carrier that competes in many of the markets in which the company operates, exerting pricing pressures. | |
Competes on domestic nonstop routes and connecting routes via its hubs, offering significant competition. | |
A foreign airline with which the company has a commercial relationship, but also faces competition in forming and maintaining such relationships. | |
A foreign airline with which the company has a commercial relationship and equity investment, but faces risks due to its bankruptcy proceedings. | |
JetSMART | A foreign airline with which the company has a commercial relationship and equity investment, but also faces competition in forming and maintaining such relationships. |
British Airways | Part of the transatlantic joint business agreement, cooperating on flights and sharing revenues and costs. |
Aer Lingus | Part of the transatlantic joint business agreement, cooperating on flights and sharing revenues and costs. |
Iberia | Part of the transatlantic joint business agreement, cooperating on flights and sharing revenues and costs. |
Finnair | Part of the transatlantic joint business agreement, cooperating on flights and sharing revenues and costs. |
Japan Airlines | Part of the transpacific joint business agreement, cooperating on flights and sharing revenues and costs. |
Qantas Airways | Part of the joint business agreement covering Australia and New Zealand, cooperating on flights and sharing revenues and costs. |
Part of a strategic alliance to provide improved schedules, network connection opportunities, and enhanced loyalty program reciprocity. | |
Qatar Airways | Part of a strategic alliance to provide improved schedules, network connection opportunities, and enhanced loyalty program reciprocity. |
Recent press releases and 8-K filings for AAL.
- American Airlines exceeded earnings estimates in Q2 2025, reporting an adjusted EPS of $0.95 and $14.4 billion in revenue.
- The company generated $791 million in free cash flow and reduced its net debt to $29 billion, marking its lowest level since 2015.
- American Airlines anticipates sequential revenue improvement for the remainder of 2025 and expects a full recovery of indirect channel share by the end of 2025, which is projected to boost revenue in 2026.
- American Airlines expects a Q3 2025 loss per share between $0.10 and $0.60 and full-year 2025 earnings per share between a loss of $0.20 and a profit of $0.80, with a midpoint profit of $0.30.
- Non-fuel unit costs for Q3 2025 are projected to increase by 2.5% to 4.5% year over year.
- The company is investing in customer experience enhancements, including new and expanded premium lounges, the new flagship suite on Boeing 787-9, and operational improvements like TSA Touchless ID and one-stop security.
- Active Advantage members have grown 7% year to date, and co-branded credit card spending was up 6% year over year in Q2, with Advantage members accounting for approximately 77% of premium revenue.
- Alaska Air reported a strong second quarter, surpassing top and bottom line expectations with record revenues and an 8% pre-tax margin, and its Hawaiian Airlines operation achieved its first quarterly profit since 2019.
- The company's full-year guidance was lower than expected, citing a change in consumer sentiment observed since late June/July, which impacted bookings and yields.
- An IT outage is projected to have a 10 cent EPS impact for the third quarter.
- Despite the revised guidance, Alaska Air's CEO anticipates a better second half of the year compared to the first half, attributing this to an improved industry capacity backdrop, a significant increase in corporate travel, and better bookings and yields.
- American Airlines Group Inc. reported record quarterly revenue of $14.4 billion and GAAP diluted earnings per share of $0.91 for Q2 2025.
- The company generated $2.5 billion in free cash flow in the first half of 2025 and ended Q2 2025 with $12 billion of total available liquidity.
- American Airlines Group Inc. ended Q2 2025 with approximately $29 billion in net debt and is committed to reducing total debt to below $35 billion by year-end 2027.
- For Q3 2025, the company anticipates total revenue to be ~ (2%) to +1% compared to 2024, with an adjusted loss per diluted share of ~ ($0.10) to ($0.60).
- Major U.S. carriers, including American Airlines, have suspended flights to the Middle East due to escalating Israel–Iran tensions and security concerns.
- American Airlines has paused its Philadelphia–Doha service until at least June 22, operating daily on Boeing 787-9 Dreamliners to feed into Qatar Airways’ network under their oneworld partnership.
- This is the first time disruptions have extended to major hubs such as Doha and Dubai, beyond routes adjacent to Israel or along Iranian missile corridors.
- The U.S. Embassy in Qatar has advised citizens to stay vigilant, avoid large gatherings, and has temporarily restricted access to Al Udeid Air Base.
- A preliminary NTSB report found that incorrectly installed engine components led to fuel leaks, abnormal vibrations, and overheating on an AA Boeing 737-800, forcing a diversion to Denver and resulting in a right-engine fire upon landing.
- Ground crews extinguished the fire in under one minute, but 12 passengers sustained minor injuries during an evacuation, with some exiting via wings due to a jammed escape slide.
- The jammed escape slide and potential manufacturing defects are under investigation alongside maintenance errors, with multiple stakeholders involved in the probe.
- Flight attendants initially failed to alert the cockpit by radio and resorted to knocking on the door to warn pilots of smoke and flames.
- American Airlines Group Inc. raised $1.0 billion in incremental term loans to refinance near-term maturities, as disclosed on May 28, 2025.
- The company entered into a Third Amendment to its Term Loan Credit and Guaranty Agreement, which includes terms such as a scheduled principal amortization of 0.25% per quarter beginning in July 2025 and options for interest rate calculations.
- Demand and capacity adjustments were a key focus, with the management noting that despite lower-than-anticipated demand relative to capacity, recent performance in Q4 and early 2025 has stabilized booking trends.
- Network rebuild efforts were emphasized, particularly in restoring regional fleet utilization and rebuilding key hubs in Chicago and Philadelphia to align capacity with economic growth.
- The team highlighted ongoing margin improvement initiatives, including efforts to close a roughly 2-point EBITDA margin gap with competitors through enhanced sales, distribution, and cost management measures.
- Looking ahead, management stated that if demand trends stabilize, the airline expects to be profitable and generate positive free cash flow for the full year, while capacity adjustments remain under close review.
- Q1 Financial Snapshot: Revenue of approximately $12.6B, with a GAAP net loss of $473M, an adjusted loss of $386M, and a loss per share of ($0.72) indicating mixed operating performance .
- Liquidity & Cash Flow: Generated $2.5B in operating cash flow and $1.7B in free cash flow, ending the quarter with $10.8B in available liquidity .
- Market Performance: Experienced weakened domestic main cabin demand amid economic uncertainty, partially offset by outperforming premium and international segments .
- Debt & Cost Efficiency: Q1 total debt was $37.4B with a target to reduce below $35B by 2027, alongside a focus on $250M in cost savings for 2025 .
- Q2 Guidance: Forecasts include 2–4% capacity growth, revenue changes between –2% to +1%, adjusted operating margins of 6–8.5%, and an expected adjusted EPS between $0.50 and $1.00 .
- New Aircraft & Investments: Anticipates taking delivery of 40–50 new aircraft in 2025 with moderate CapEx to support capacity and network optimization .
- Investor Presentation: An updated presentation was issued on April 24, 2025, with additional details available on the company website under Investor Relations .
- American Airlines discussed the impact of the tragic Flight 5342 incident and its extensive response efforts, including deploying over 200 personnel to support 70 affected families, noting a significant short‐term impact on the first quarter.
- The management emphasized a strategic focus on margin expansion and rebuilding its network through targeted capacity adjustments at key hubs such as DFW, Charlotte, Philadelphia, and Chicago, with plans to restore profitability and market share over time.
- The company highlighted its progress in balance sheet improvement, referencing a record free cash flow year ($2.2 billion) and successful debt reduction—from a $54 billion peak to achieving a $15 billion reduction target—with plans for further deleveraging by 2027.
- Updates on the loyalty program were provided, including a new Citi deal expected to add approximately $1.5 billion in earnings as remuneration grows, while legal proceedings such as the Northeast Alliance were noted as part of its broader competitive strategy.