10-Q – 2026-04-23 – aal-20260331.htm

ITEM 1. LEGAL PROCEEDINGS
See Note 12 to each of AAG and American’s Condensed Consolidated Financial Statements in Part I, Item 1A and Part I, Item 1B, respectively, for information on legal proceedings.

ITEM 1A. RISK FACTORS
There have been no material changes in our risk factors as previously disclosed in Part I, Item 1A in our 2025 Form 10-K. The risks in our 2025 Form 10-K are not the only risks facing AAG and American. Additional risks and uncertainties not currently known to us, or that we currently deem to be immaterial, could also materially adversely affect our business, financial condition or future results.

ITEM 5. OTHER INFORMATION
Securities Trading Plans of Directors and Executive Officers
During the quarter ended March 31, 2026, none of our directors or “officers” (as defined in Rule 16a-1(f) under the Exchange Act) adopted , modified or terminated any contract, instruction or written plan for the purchase or sale of AAG securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement.”
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ITEM 6. EXHIBITS
Exhibits required to be filed by Item 601 of Regulation S-K: Where the amount of securities authorized to be issued under any of our long-term debt agreements does not exceed 10% of our assets, pursuant to paragraph (b)(4) of Item 601 of Regulation S-K, in lieu of filing such as an exhibit, we hereby agree to furnish to the Commission upon request a copy of any agreement with respect to such long-term debt.

Exhibit
Number
Description

10.1 Severance Agreement and Restrictive Covenants Agreement, dated as of January 5, 2026, among American Airlines Group Inc., American Airlines, Inc. and Nathaniel Pieper (incorporated by reference to Exhibit 10.153 to American Airlines Group Inc.’s Annual Report on Form 10-K filed on February 18, 2026 (Commission File No. 1-8400)). †

10.2 Eleventh Amendment to Amended and Restated Credit and Guaranty Agreement, dated as of March 5, 2026, amending the Amended and Restated Credit and Guaranty Agreement, dated as of April 20, 2015, among American Airlines, Inc., American Airlines Group Inc., the lenders from time to time party thereto, Citibank , N.A., as administrative agent, and certain other parties thereto (incorporated by reference to Exhibit 10.1 to American Airlines Group Inc.’s Current Report on Form 8-K filed on March 9, 2026 (Commission File No. 1-8400)).*

10.3 Eleventh Amendment to Amended and Restated Credit and Guaranty Agreement, dated as of March 5, 2026, amending the Amended and Restated Credit and Guaranty Agreement, dated as of May 21, 2015, among American Airlines, Inc., American Airlines Group Inc., the lenders from time to time party thereto and Barclays Bank PLC, as administrative agent (incorporated by reference to Exhibit 10.2 to American Airlines Group Inc.’s Current Report on Form 8-K filed on March 9, 2026 (Commission File No. 1-8400)).*

10.4 Fourth Amendment to Credit and Guaranty Agreement, dated as of March 5, 2026, amending the Credit and Guaranty Agreement, dated as of December 4, 2023, among American Airlines, Inc., as the borrower, American Airlines Group Inc., as parent and guarantor, the lenders from time to time party thereto, Citibank , N.A., as administrative agent, and certain other parties from time to time party thereto (incorporated by reference to Exhibit 10.3 to American Airlines Group Inc.’s Current Report on Form 8-K filed on March 9, 2026 (Commission File No. 1-8400)).*

10.5 Supplemental Agreement No. 37, dated as of January 14, 2026, to Purchase Agreement No. 03735 dated as of February 1, 2013, by and between American Airlines, Inc. and The Boeing Company.*

31.1 Certification of AAG Chief Executive Officer pursuant to Rule 13a-14(a).

31.2 Certification of AAG Chief Financial Officer pursuant to Rule 13a-14(a).

31.3 Certification of American Chief Executive Officer pursuant to Rule 13a-14(a).

31.4 Certification of American Chief Financial Officer pursuant to Rule 13a-14(a).

32.1 AAG Certification pursuant to Rule 13a-14(b) and section 906 of the Sarbanes-Oxley Act of 2002 (subsections (a) and (b) of section 1350, chapter 63 of title 18, United States Code).

32.2 American Certification pursuant to Rule 13a-14(b) and section 906 of the Sarbanes-Oxley Act of 2002 (subsections (a) and (b) of section 1350, chapter 63 of title 18, United States Code).

101.1 Interactive data files pursuant to Rule 405 of Regulation S-T, formatted in Inline XBRL (eXtensible Business Reporting Language).
104.1 Cover page interactive data file (formatted in Inline XBRL and contained in Exhibit 101.1).

† Management contract or compensatory plan or arrangement.
* Portions of this exhibit have been omitted in accordance with Item 601(b)(10) of Regulation S-K.

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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 

  American Airlines Group Inc.

Date: April 23, 2026 By:   /s/ Devon E. May
  Devon E. May
  Executive Vice President and Chief Financial Officer
  (Duly Authorized Officer and Principal Financial Officer)

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 

  American Airlines, Inc.

Date: April 23, 2026 By:   /s/ Devon E. May
  Devon E. May
  Executive Vice President and Chief Financial Officer
  (Duly Authorized Officer and Principal Financial Officer)

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