American Airlines Group Inc
For the period ended Dec 31, 2023. Filed Feb 21, 2024.
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FY2023 · Filed Feb 21, 2024
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Item 2. Properties
Flight Equipment
As of December 31, 2023, American operated a mainline fleet of 965 aircraft. During 2023, American accepted delivery of 31 mainline aircraft including 17 Boeing 737-8 MAX, 10 Airbus A321neo and four Boeing 787-8 aircraft and returned nine mainline aircraft to service from temporary storage. We are supported by our wholly-owned and third-party regional carriers that fly under capacity purchase agreements operating as American Eagle. As of December 31, 2023, American Eagle operated 556 regional aircraft. During 2023, we increased our regional fleet by a net of 20 aircraft, including the addition of 83 regional aircraft, the return of 55 regional aircraft to third-party regional carriers and temporarily parking eight regional aircraft.
Mainline
As of December 31, 2023, American’s mainline fleet consisted of the following aircraft:
| AverageSeatingCapacity · AverageAge(Years) · Owned · Leased · Total | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Airbus A319 | 128 | 19.7 | 21 | 112 | 133 | ||||
| Airbus A320 | 150 | 22.7 | 10 | 38 | 48 | ||||
| Airbus A321 | 184 | 11.4 | 164 | 54 | 218 | ||||
| Airbus A321neo | 195 | 2.9 | 43 | 35 | 78 | ||||
| Boeing 737-800 | 172 | 14.1 | 132 | 171 | 303 | ||||
| Boeing 737-8 MAX | 172 | 3.2 | 26 | 33 | 59 | ||||
| Boeing 777-200ER | 273 | 23.0 | 44 | 3 | 47 | ||||
| Boeing 777-300ER | 304 | 9.8 | 18 | 2 | 20 | ||||
| Boeing 787-8 | 234 | 5.1 | 20 | 17 | 37 | ||||
| Boeing 787-9 | 285 | 6.2 | 17 | 5 | 22 | ||||
| Total | 12.9 | 495 | 470 | 965 | |||||
Regional
As of December 31, 2023, the fleet of our wholly-owned and third-party regional carriers operating as American Eagle consisted of the following aircraft:
| Average SeatingCapacity · Owned · Leased · Owned or Leasedby Third PartyRegional Carrier · Total · Operating RegionalCarrier · Number ofAircraftOperated | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Bombardier CRJ 200 | 50 | — | — | 40 | 40 | Air Wisconsin | 40 | ||||||
| Bombardier CRJ 700 (1) | 65 | 50 | — | 90 | 140 | SkyWest | 90 | ||||||
| PSA | 50 | ||||||||||||
| Total | 140 | ||||||||||||
| Bombardier CRJ 900 (1) | 76 | 74 | — | — | 74 | PSA | 74 | ||||||
| Embraer 170 (1) | 65 | 6 | 23 | 5 | 34 | Envoy | 29 | ||||||
| Republic | 5 | ||||||||||||
| Total | 34 | ||||||||||||
| Embraer 175 | 76 | 108 | — | 102 | 210 | Envoy | 108 | ||||||
| Republic | 82 | ||||||||||||
| SkyWest | 20 | ||||||||||||
| Total | 210 | ||||||||||||
| Embraer 145 (1) | 50 | 58 | — | — | 58 | Piedmont | 58 | ||||||
| Total | 296 | 23 | 237 | 556 | 556 | ||||||||
(1)Excluded from the total operating aircraft count above are 77 regional aircraft that are being held in temporary storage as follows: 57 owned Embraer 145, seven owned and four leased Bombardier CRJ 700, six owned Bombardier CRJ 900 and three leased Embraer 170.
See Note 11 to AAG’s Consolidated Financial Statements in Part II, Item 8A and Note 10 to American’s Consolidated Financial Statements in Part II, Item 8B for additional information on our capacity purchase agreements with third-party regional carriers.
Aircraft and Engine Purchase Commitments
As of December 31, 2023, we had definitive purchase agreements for the acquisition of the following new aircraft(1):
| 2024 · 2025 · 2026 · 2027 · 2028 · 2029 and Thereafter · Total | |||||||
|---|---|---|---|---|---|---|---|
| Airbus | |||||||
| A320neo Family | 3 | 21 | 35 | 5 | — | — | 64 |
| Boeing | |||||||
| 737 MAX Family | 20 | 33 | 21 | — | — | — | 74 |
| 787 Family | 6 | 5 | 4 | 5 | 5 | 5 | 30 |
| Embraer | |||||||
| 175 | 12 | — | — | — | — | — | 12 |
| Total | 41 | 59 | 60 | 10 | 5 | 5 | 180 |
(1)Delivery schedule represents our best estimate as of the date of this report as described in footnote (e) to the “Contractual Obligations” table in Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations. Actual delivery dates are subject to change, which could be material, based on various potential factors including production delays by the manufacturer and regulatory concerns.
As of December 31, 2023, we had committed to purchase two used Airbus A321neo aircraft which were delivered in January 2024. We had also committed to purchasing six used Embraer 175 aircraft, which are currently flown under a capacity purchase agreement with a third-party regional carrier and which are already included in our aircraft count. We also have agreements for 44 spare engines to be delivered in 2024 and beyond.
We have financing commitments in place for all aircraft scheduled to be delivered in 2024, except for three Airbus A320neo Family aircraft and two Embraer 175 aircraft. Our ability to draw on the financing commitments we have in place is subject to (1) the satisfaction of various terms and conditions including, in some cases, on our acquisition of the aircraft by a certain date and (2) the performance by the relevant financing counterparty of its obligations thereunder. See Part I, Item 1A. Risk Factors –“We will need to obtain sufficient financing or other capital to operate successfully” for additional discussion.
See Note 11 to AAG’s Consolidated Financial Statements in Part II, Item 8A and Note 10 to American’s Consolidated Financial Statements in Part II, Item 8B for additional information on aircraft and engine acquisition commitments.
Ground Properties
At each airport where we conduct flight operations, we have agreements, generally with a governmental unit or authority, for the use of passenger, operations and baggage handling space as well as runways and taxiways. These agreements, particularly in the U.S., often contain provisions for periodic adjustments to rates and charges applicable under such agreements. These rates and charges also vary with our level of operations and the operations of the airport. Additionally, at our hub locations and in certain other cities we serve, we lease administrative offices, catering, cargo, training, maintenance and other facilities.
We lease or have built on leased property our headquarters and training facilities in Fort Worth, Texas, our principal overhaul and maintenance base in Tulsa, Oklahoma, our regional reservation offices, and administrative offices throughout the U.S. and abroad.
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