American Airlines Group, Inc. · NASDAQ:AAL
American Airlines — IPO Roadshow (September 2016)
17 slides from American Airlines's IPO roadshow presentation, Sep 19, 2016
Slide 1: Issuer Free Writing Prospectus
Issuer Free Writing Prospectus Filed pursuant to Rule 433(d) Registration No. 333-194685-01 September 19, 2016
Slide 2: American Airlines, Inc. Series 2016-3 EETC Investor Presentation
American Series September 2016-3 Airlines, 2016 EETCInc. Investor Presentation
Slide 3: Cautionary Statement Regarding Forward-Looking Statements
Cautionary This Private “should,” future from adversely industry, transaction increased requirements, obligations; Company’s of and limits that overseas, actions impact technologies aircraft dependence behavior stringent reductions Carryforwards); impairment the takeover ownership protect our on ris
Slide 4: Free writing prospectus legend
Thistoll-free The and Alternatively, 3Co. other issuer Investor documents has atPresentation the filed 1-866-471-2526. issuer, a the registration any issuer highlights underwriter hasstatement filed basic with orinformation (including any thedealer SEC for aparticipating about prospectus) morethecom
Slide 5: Transaction Overview
Transaction 41•–Certificates, American Active The Depositary: Liquidity Joint American Two Waterfall 5x Airbus 4x 8x Class Standard 18-month Calculated Boeing Embraer Equipment Certificates transaction’s tranches Structuring AA ABookrunners: Certificates: subordinated cross-collateralization, Facili
Slide 6: Certificate Summary
American Class Face Expected Initial Regular Final Section Liquidity 321Depositary 5represents The Calculated Each Amount Expected Legal AA A Final Average LTV series 1110 Distribution Ratings Facility 2016-3 the Proceeds /Distribution Legal Maximum as Protection of $557,654,000 period Life Distribu
Slide 7: Key Structural Elements
Key Two Waterfall Buyout No Cross-Collateralization Threshold Collateral 61•Additional After All American The Two Weighted Interest No Downgrade Strategically Asbuyout Structural Classes of Equipment indentures equipment tranches recently aOctober Rights Certificate on Rating right Certificates aver
Slide 8: Comparing American EETC Precedents
Comparing American Class Equipment Maturity Notches Current •Collateral Body New 7654321Initial 11x 6x 1x 4x American As 2016-1 2016-2 2016-3 737-800 777-300ER 787-8 of /A321-200 AA AType Weighted /Principal In-service September Max Requested Rating6 above /initial Initial Airlines 22x Average •Mix
Slide 9: II. The Aircraft
8II. The Aircraft
Slide 10: Attractive Aircraft Collateral and Aggregate Appraisals
Attractive American Aggregate Appraisals 8765432Aircraft 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 1Total 9(“BK”) A321-200S Appraised B737-800 B737-800 B787-9 ERJ 1,463.66 175LR and Number has Aircraft aircraft N821AN N822AN N823AN N824AN indicate Morten N988NN N997NN N998NN N200NV Value N301P
Slide 11: 2016-3 Collateral Pool Observations
2016-3 Newer Only All Collateral Body Aircraft Wide 45% Narrow Regional 1ERJ 93% New 7% In-service New/In-service1 19% A321-200S 26% B737-800 39% B787-9 16% value 10Based other 175LR around Type1 ofcollateral EETC Type1 on such aircraft pool the 7% aircraft Collateral LMM isof than are representativ
Slide 12: Airbus A321-200 Aircraft
Airbus Increasingly Benefits Provides Large The Most Sharklets Top Operators 54321Lessors Total A321-ceo #Firm Sources: 11 American AerCap Air Turkish Delta China Lufthansa GECAS BOC CIT Delivered Backlog In of Airbus 5Current Service Orders Lease 515 256 aircraft Aerospace Operators single-aisle A3
Slide 13: Boeing 737-800 Aircraft
Boeing Considered Today, Over The In Range 227,930-kg 787-8 242 70,010-kg 737-800 162 Hong Dubai Mumbai Addis London Moscow Tokyo Shanghai Los Anchorage New Mexico DFW Panama Lagos Buenos Auckland Sydney Lima Rio Cape Growth 152 2010 1Sources: 12Data the addition, Angeles De three-class 169 737-800
Slide 14: Boeing 787-9 Aircraft
The With Enables Recent Ascend Top Operators 54321Lessors Total Boeing #Firm Sources: 13 ANA American AerCap Air Etihad United Japan CIT BBAM GECAS Delivered Backlog 5Boeing Orders aLease its 290 174 Aerospace Operators predicted widebody -787-9 787 Airlines market #American new Airways All American
Slide 15: Embraer ERJ 175 Aircraft
Embraer The •76-seaters Most Large Widest Four-abreast Generous Overhead Superior Expanded Top Operators 5432Lessors Total Range Seattle Vancouver Calgary Edmonton Los Las Salt Phoenix Kansas Minneapolis Fargo Denver Oklahoma St. Chicago Houston DALLAS New Havana Miami Jacksonville Atlanta Charlotte
Slide 16: Fleet Replacement Plan
Fleet Replacement American 2016 A320 A350-900 B737-800 B777-300ER B787 Mainline CRJ-700 CRJ-900 E175 Regional Note: 15 2017 24 Family Guidance 12 7Total 18recently /-2018 -Max -- -28/- 36 Neo 55 49 20 -13 7from Beyond 18 -2012 57 -22 8announced Plan 25 224 - -26 July 29 -20 16 61 200 2018 -80 22, 10
Slide 17: Average Fleet Age
•Fleet 81Average 13 18 Years 13.3 16.2 10.5 2012 Source: 16 6.8 Theyrs Replacement 2013 Company SEC 14.0 10.4 14.2 9.6 Fleet 2014 yrs Form yrs Age has 2015 Plan 10-K one 2016E of and theAscend 2017E youngest Fleets fleets data in base; the industry projected data based on internal Industry fleet pla