Terms of Service apply. Introduced a preflight coronavirus (COVID-19) testing program to help reopen certain international travel markets. Develop and improve features of our offerings. Through collaboration, resourcefulness and hard work, our team did its part to keep the economy moving. These changes removed more than 150 aircraft from the fleet and brought forward significant cost savings and efficiencies associated with operating fewer aircraft types, giving American the youngest fleet among the U.S. network carriers. Maintaining independence and editorial freedom is essential to our mission of empowering investor success. Verify your identity, personalize the content you receive, or create and administer your account. 3A reconciliation of this calculation can be found in the tables that follow. Gear advertisements and other marketing efforts towards your interests. We also respect individual opinionsthey represent the unvarnished thinking of our people and exacting analysis of our research processes. This site is protected by reCAPTCHA and the Google There may be other factors of which we are not currently aware that may affect matters discussed in the forward-looking statements and may also cause actual results to differ materially from those discussed. Provide specific products and services to you, such as portfolio management or data aggregation. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. Forward looking statements speak only as of the date hereof or as of the dates indicated in the statement. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive. Made the difficult decision to proceed with furloughs to reduce headcount absent an extension of the CARES Act Payroll Support Program (PSP). Dow Jones Industrial Average, S&P 500, Nasdaq, and Morningstar Index (Market Barometer) quotes are real-time. The company also placed certain older Boeing 737-800 aircraft into temporary storage. Incorporated more than $1.3 billion of permanent non-volume, non-fuel efficiency cost-saving measures into 2021 operating plan. These forward-looking statements are based on our current objectives, beliefs and expectations, and they are subject to significant risks and uncertainties that may cause actual results and financial position and timing of certain events to differ materially from the information in the forward-looking statements. The company will continue to match its forward capacity with observed bookings trends. The airline also established new and innovative partnerships with Alaska Airlines and JetBlue Airways that will create the best and largest network for customers on the West Coast and in the Northeast. Retired five aircraft types (Embraer 190, Boeing 757, Boeing 767, Airbus A330 and Bombardier CRJ200), along with a number of older regional aircraft. An archive of the webcast will be available on the website through Feb. 28. To date, five of the 18 737 MAX deferral rights have been exercised. 2The 2020 12-month period mainline operating special items, net principally included $3.7 billion of PSP financial assistance, offset in part by $1.5 billion of fleet impairment charges, $1.4 billion of salary and medical costs primarily associated with certain team members who opted in to voluntary early retirement programs offered as a result of reductions to the company's operation due to COVID-19, and $228 million of one-time labor contract expenses resulting from the ratification of a new contract with the company's maintenance and fleet service team members, including signing bonuses and adjustments to vacation accruals resulting from pay rate increases. These risks and uncertainties include, but are not limited to, those set forth in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2020 (especially in Part I, Item 2. These products and services are usually sold through license agreements or subscriptions. We sell different types of products and services to both investment professionals and individual investors. However, we couldnt be prouder of the American Airlines team and the great things they accomplished last year. Risk Factors), and other risks and uncertainties listed from time to time in our other filings with the Securities and Exchange Commission. Wed like to share more about how we work and what drives our day-to-day business. 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). To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research. 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.. Read our editorial policy to learn more about our process. 1See the accompanying notes in the Financial Tables section of this press release for further explanation, including a reconciliation of all GAAP to non-GAAP financial information. These net special items principally included mark-to-market net unrealized gains and losses associated with certain equity investments and treasury rate lock derivative instruments as well as charges associated with debt refinancings and extinguishments. Travelers can now easily understand COVID-19 testing and documentation requirements for their destination and streamline airport check-in through digital verification. Raised more than $13 billion during the year through various other equity and debt offerings. We may use it to: To learn more about how we handle and protect your data, visit our privacy center. Secured approximately $9 billion in financial assistance through two rounds of PSP legislation and executed an agreement with the U.S. Department of the Treasury through the CARES Act loan program that gives the company access to up to $7.5 billion of secured term loans, of which $550 million has been drawn. 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. As we look to the year ahead, 2021 will be a year of recovery. About American Airlines GroupAmericans purpose is to care for people on lifes journey. American Airlines Group Inc - Stock Financials. Reduced non-aircraft capital expense by $700 million in 2020 and another $300 million in 2021 through reductions in fleet modification work, the elimination of ground service equipment purchases, and pausing noncritical facility investments and IT projects. Compared to the first quarter of 2019, American expects its first-quarter system capacity to be down 45%, with total revenue expected to be down 60 to 65%. Starting today, customers also will be able to use VeriFLY for travel from the United States to the U.K. and Canada. Announced its goal to reach net-zero carbon emissions by 2050 and detailed the companys strategy and pathway in its. Privacy Policy and Mileage redeposits for canceled award bookings. These net special items principally included mark-to-market net unrealized gains and losses associated with certain equity investments and treasury rate lock derivative instruments. While we dont know exactly when passenger demand will return, as vaccine distribution takes hold and travel restrictions are lifted, we will be ready. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters. The company recognized $170 million of nonoperating net special items in 2020. Expects to end the first quarter with approximately $15.0 billion in total available liquidity. How we use your information depends on the product and service that you use and your relationship with us. The call will be available to the public on a listen-only basis at aa.com/investorrelations. FORT WORTH, Texas American Airlines Group Inc. (NASDAQ: AAL) today reported its fourth-quarter and full-year 2020 financial results, including: Our fourth-quarter financial results close out the most challenging year in our companys history, said American Airlines Chairman and CEO Doug Parker. Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. Reached an agreement with Boeing to secure rights to defer deliveries of 18 Boeing 737 MAX aircraft and finalized a series of sale-leaseback transactions to finance its Airbus A321 aircraft deliveries in 2021. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data. The company does not assume any obligation to publicly update or supplement any forward-looking statement to reflect actual results, changes in assumptions or changes in other factors affecting these forward-looking statements other than as required by law. These forward-looking statements may be identified by words such as may, will, expect, intend, anticipate, believe, estimate, plan, project, could, should, would, continue, seek, target, guidance, outlook, if current trends continue, optimistic, forecast and other similar words. Began the rollout of mobile wellness wallet solution VeriFLY to make domestic and international travel simpler. The 2020 12-month period regional operating special items, net principally included $444 million of PSP financial assistance, offset in part by $117 million of fleet impairment charges and $18 million of salary and medical costs primarily associated with the voluntary early retirement programs as discussed above. These partnerships will allow for efficient growth, including the launch of new service in 2021 between Seattle and London, Shanghai and Bangalore, and between New York and Tel Aviv and Athens. Reset its international capacity and network for 2021, including exiting 19 international routes from six hubs. Removed more than $17 billion from its operating and capital budgets for 2020 primarily through reduced flying. Copyright 2022 Morningstar, Inc. All rights reserved. American reset its network in 2020 to play to the strengths of its hubs and take advantage of its younger and simplified fleet. In particular, the consequences of the COVID-19 outbreak to economic conditions and the travel industry in general and the financial position and operating results of the company in particular have been material, are changing rapidly, and cannot be predicted. Introduced programs to right-size its frontline and management teams. Such statements include, but are not limited to, statements about our plans, objectives, expectations, intentions, estimates and strategies for the future, and other statements that are not historical facts. Ticket changes on all domestic and international itineraries when traveling from North and South America, with the exception of Basic Economy fares that are nonchangeable. In total, more than 20,000 team members opted to participate in a voluntary early out or long-term partially paid leave during the year, and the company reduced its management and support staff team by approximately 30%. Shares of American Airlines Group Inc. trade on Nasdaq under the ticker symbol AAL and the companys stock is included in the S&P 500. Launched the companys first cargo-only flights since 1984 to transport critical goods, including the COVID-19 vaccine, and increased service to include 41 destinations for strategic cargo-only opportunities. Americans furloughed team members have since had their pay and benefits reinstated with the passage of a bipartisan COVID-19 relief package that renewed the PSP from Dec. 1, 2020, through March 31, 2021. Cautionary Statement Regarding Forward-Looking Statements and InformationCertain of the statements contained in this report should be considered forward-looking statements within the meaning of the Securities Act of 1933, as amended (the Securities Act), the Securities Exchange Act of 1934, as amended (the Exchange Act), and the Private Securities Litigation Reform Act of 1995. American now offers testing for many international destinations and has introduced at-home testing for customers traveling to all U.S. locations that require negative tests. Managements Discussion and Analysis of Financial Condition and Results of Operations, and Part II, Item 1A.

The American team flew more customers than any other airline in 2020, and they did so safely and with the utmost care. The company will conduct a live audio webcast of its financial results call at 7:30 a.m. CST today. American helped customers move nearly 800 million pounds of critical goods around the world in 2020, including 167 million pounds on the airlines more than 5,200 cargo-only flights. Made it easier for top-tier customers to earn AAdvantage. Click the button below to download the 4Q20 financial results. Learn more about whats happening at American by visiting news.aa.com and connect with American on Twitter @AmericanAir and at Facebook.com/AmericanAirlines.

American Airlines Reports Fourth-Quarter and Full-Year 2020 Financial Results. We provide a platform for our authors to report on investments fairly, accurately, and from the investors point of view. The company recognized $36 million of nonoperating net special items during the fourth quarter of 2020.