American Airlines Group, Inc. · NASDAQ:AAL
American Airlines — Q3 2023 Earnings Presentation
15 slides from American Airlines's earnings presentation, Oct 19, 2023
Slide 1: Third Quarter 2023 Financial Results
THIRD QUARTER 2023 — FINANCIAL RESULTS N9O8NN 3UT
Slide 2: Forward-looking statements
Certain of the statements contained in this presentation should be considered forward-looking statements within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward- looking sta
Slide 3: Third-quarter results
Third-quarter results • Record third quarter revenue of ~$13.5 billion • Excluding net special items1, third quarter net income of $263 million • Record third-quarter completion factor • Best third-quarter completion factor of the U.S. network carriers • Ended the third quarter with ~$13.5 billion o
Slide 4: AAdvantage remains strong
3Q 2019 3Q 2023 New AAdvantage® member accounts AAdvantage® remains strong • AAdvantage® continues to grow, with enrollments up 50% vs. 3Q 2019 + 50% vs. 3Q 2019
Slide 5: Third-quarter bookings contribution
53% 67% 78% 47% 33% 22% 3Q 2019 3Q 2022 3Q 2023 Booking Contribution by Distribution Technology Modern Distribution Technology Legacy Technology Third-quarter bookings contribution • American continues to see an increase in bookings from modern distribution technology Note: May not recalculate due t
Slide 6: Financial update
Financial update
Slide 7: Third-quarter financial results
Third-quarter financial results Note: May not recalculate due to rounding. 1. See GAAP to non-GAAP reconciliation at the end of this presentation. GAAP Non-GAAP1 (in millions, except share and per share amounts) 3Q 2023 3Q 2022 3Q 2023 3Q 2022 Operating Income (Loss) ($223) $930 $728 $969 Pre-Tax In
Slide 8: Deleveraging supported by moderate capex
Deleveraging supported by moderate capex Younger fleet drives lower capex Note: May not recalculate due to rounding. 1. Source: Company filings. 2021 includes net inflows from return of PDPs. $5.2 $2.0 $0.2 $2.5 $2.7 ~ $3.0 - $3.3 20 14 - 20 19 A vg . 20 20 A 20 21 A 20 22 A 20 23 E 20 24 E Total ca
Slide 9: Balance sheet strengthening continues
54 (0.8) (1.0) (1.2) (0.6) ~(3.5) ~(4.4) 43 2Q 2021 Total Debt 2019 Unsecured Spare Parts Term Loan LGA/DCA Term Loan 2020 Secured / Unsecured Amortizing Debt Lease & Pension YE 2023E Total Debt Balance sheet strengthening continues ~11.5B Peak • On track to reduce total debt1 from peak levels by ~$
Slide 10: Fourth-quarter and full-year outlook
Fourth-quarter and full-year outlook 1. CASM-ex is cost per available seat mile (CASM) excluding fuel and net special items and is a non-GAAP measure. All adjusted operating margin and adjusted earnings per diluted share guidance excludes the impact of net special items and are non-GAAP measures. Th
Slide 11: Visit our new Robert L. Crandall Campus website
Visit our new Robert L. Crandall Campus website at aa.com/campus October 19, 2023
Slide 12: GAAP to non-GAAP reconciliation
GAAP to non-GAAP reconciliation Reconciliation of GAAP Financial Information to Non-GAAP Financial Information American Airlines Group Inc. (the Company) sometimes uses financial measures that are derived from the condensed consolidated financial statements but that are not presented in accordance w
Slide 13: GAAP to non-GAAP reconciliation
GAAP to non-GAAP reconciliation Percent Increase Percent Increase 2023 2022 (Decrease) 2023 2022 (Decrease) Operating income (loss) as reported (223)$ 930$ 2,378$ 225$ Operating net special items: Mainline operating special items, net (1) 949 37 962 189 Regional operating special items, net 2 2 8 2
Slide 14: GAAP to non-GAAP reconciliation
GAAP to non-GAAP reconciliation Percent Increase Percent Increase Reconciliation of Net Income (Loss) Excluding Net Special Items 2023 2022 (Decrease) 2023 2022 (Decrease) Net income (loss) as reported (545)$ 483$ 803$ (676)$ Net special items: Total pre-tax net special items (1), (2) 1,052 (18) 1,1
Slide 15: American Airlines
American®. Airlines
American Airlines Group — Q3 2023 Earnings Presentation on 6ix