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American Airlines Group (AAL)
The export includes the complete available history of financial statements and ratios. Numbers are provided in full, without million or billion abbreviations, in their original reporting units.
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American Airlines Group Balance Sheet 2025-2007 | AAL
Brief overview of American Airlines Group's balance sheet strength
This overview follows the five latest available annual observations between 2015 and 2019.
Over the period, assets gained +23.9%, moving from $48.4 billion to $60 billion. CAGR near 5.5% shows consistent growth.
Asset growth of +23.9% came with a +40.5% rise in liabilities. Financial leverage became more prominent.
Equity was negative at the end of the period. Liabilities exceeded assets, leaving no balance sheet cushion.
The cash share moved from 0.8% to 0.5%. A higher figure generally provides more room in an adverse scenario.
By the end of the period, accumulated earnings were $2.3 billion; the change from the start was +284.1%.
Balance sheet takeaway
American Airlines Group's balance sheet profile remains vulnerable. Lower liabilities and capital accumulation are the main routes to improvement.
Annual Balance Sheet American Airlines Group
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
24.7 B | 24.9 B | 29.6 B | 32.9 B | 36.2 B | 31.2 B | 24 B | 24.2 B | 24.8 B | 24 B | 20.2 B | 16.9 B | 15.7 B | 7.64 B | 7.94 B | 10.4 B | 10.9 B | - | - |
Long Term Debt |
24.6 B | 24.6 B | 28.9 B | 31.8 B | 35 B | 29.8 B | 21.5 B | 21.2 B | 22.5 B | 22.5 B | 18.3 B | 16.2 B | 15.4 B | 6.74 B | 6.7 B | 8.76 B | 9.98 B | - | - |
Long Term Debt Current |
1.06 B | 1.09 B | 1.31 B | 1.46 B | 1.51 B | 1.65 B | 1.71 B | 1.65 B | - | - | - | - | - | 1.39 B | 1.52 B | 1.78 B | 1.02 B | - | - |
Total Non Current Liabilities |
41 B | 41.5 B | 46.2 B | 49 B | 54.8 B | 52.3 B | 41.8 B | 42.7 B | 32.5 B | 33.6 B | 29.2 B | 28.3 B | 31.2 B | 22.2 B | 22.3 B | - | - | - | - |
Total Current Liabilities |
24.5 B | 24.3 B | 22.1 B | 21.5 B | 19 B | 16.6 B | 18.3 B | 18.1 B | 15 B | 13.9 B | 13.6 B | 13.4 B | 13.8 B | 9.3 B | 8.63 B | 8.78 B | 7.73 B | - | - |
Total Liabilities |
- | - | - | - | - | - | 60.1 B | 60.7 B | 47.5 B | 47.5 B | 42.8 B | 41.8 B | 45 B | 31.5 B | 31 B | - | - | - | - |
Deferred Revenue |
- | - | - | - | - | - | 8 B | 7.61 B | 6.77 B | 6.7 B | 6.27 B | 4.25 B | 4.38 B | 4.52 B | - | - | - | - | - |
Retained Earnings |
-6.73 B | -6.84 B | -7.69 B | -8.51 B | -8.64 B | -6.66 B | 2.26 B | 136 M | 3.36 B | 1.64 B | -1.23 B | -8.56 B | -11.3 B | -9.46 B | -7.59 B | -5.61 B | -5.14 B | - | - |
Total Assets |
61.8 B | 61.8 B | 63.1 B | 64.7 B | 66.5 B | 62 B | 60 B | 60.6 B | 51.4 B | 51.3 B | 48.4 B | 43.8 B | 42.3 B | 23.5 B | 23.8 B | 25.1 B | 25.4 B | - | - |
Cash and Cash Equivalents |
954 M | 804 M | 578 M | 440 M | 273 M | 245 M | 280 M | 275 M | 295 M | 322 M | 390 M | 994 M | 1.14 B | 480 M | 283 M | 168 M | 153 M | 191 M | 148 M |
Book Value |
61.8 B | 61.8 B | 63.1 B | 64.7 B | 66.5 B | 62 B | -118 M | -169 M | 3.93 B | 3.78 B | 5.64 B | 2.02 B | -2.73 B | -7.99 B | -7.11 B | 25.1 B | 25.4 B | - | - |
Total Shareholders Equity |
-3.73 B | -3.98 B | -5.2 B | -5.8 B | -7.34 B | -6.87 B | -118 M | -169 M | -780 M | -284 M | 5.64 B | 2.02 B | -2.73 B | -7.99 B | -7.11 B | -3.94 B | -3.49 B | -2.94 B | 2.7 B |
Annual performance
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All numbers in USD currency
Quarterly Balance Sheet American Airlines Group
| 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | 2010-Q3 | 2010-Q2 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
25.3 B | 22.9 B | 24.6 B | 24.5 B | 24.7 B | 24.2 B | 24.6 B | 25.8 B | 27.2 B | 27.9 B | 28.9 B | 29.3 B | 30.3 B | 31.1 B | 31.8 B | 33.6 B | 34.4 B | 34.9 B | 35 B | 35.5 B | 36.7 B | 35 B | 29.3 B | 29.3 B | 29.3 B | 29.3 B | 20.9 B | 20.9 B | 20.9 B | 20.9 B | 20.6 B | 20.6 B | 20.6 B | 20.6 B | 21.8 B | 22.5 B | 22.5 B | 22.5 B | 22.5 B | 22.5 B | 22.5 B | 22.5 B | 18.3 B | 18.3 B | 18.3 B | 18.3 B | 16 B | 16.2 B | 16.2 B | 16.2 B | 15.4 B | 8.86 B | 7.99 B | 6.65 B | 6.74 B | 6.1 B | 6.74 B | 6.74 B | 6.7 B | 6.7 B | 6.7 B | 6.7 B | 9.01 B | 9.14 B |
Total Non Current Liabilities |
41.4 B | 39.4 B | 41 B | 41.5 B | 41.8 B | 41 B | 41.5 B | 42.8 B | 44.3 B | 44.9 B | 46.2 B | 46.5 B | 47.3 B | 48 B | 49 B | 52.6 B | 53.6 B | 54.5 B | 54.8 B | 56.9 B | 58.6 B | 54.8 B | 52.3 B | 52.3 B | 52.3 B | 52.3 B | 41.8 B | 41.8 B | 41.8 B | 41.8 B | 42.7 B | 42.7 B | 42.7 B | 42.7 B | 38.2 B | 38.2 B | 38.2 B | 38.2 B | 33.6 B | 33.6 B | 33.6 B | 33.6 B | 29.2 B | 29.2 B | 29.2 B | 29.2 B | 27.8 B | 28.3 B | 28.3 B | 28.3 B | 31.2 B | 31.2 B | 31.2 B | 31.2 B | 15.9 B | - | - | - | - | - | - | - | - | - |
Retained Earnings |
-7.04 B | -7.11 B | -6.73 B | -6.83 B | -6.72 B | -7.32 B | -6.84 B | -7.43 B | -7.28 B | -8 B | -7.69 B | -7.71 B | -7.16 B | -8.5 B | -8.51 B | -9.31 B | -9.8 B | -10.3 B | -8.64 B | -7.71 B | -7.88 B | -8.64 B | -6.66 B | -6.66 B | -6.66 B | -6.66 B | 2.26 B | 2.26 B | 2.26 B | 2.26 B | 758 M | 758 M | 758 M | 758 M | -1.34 B | -1.34 B | -1.34 B | -1.34 B | 1.64 B | 1.64 B | 1.64 B | 1.64 B | -1.23 B | -1.23 B | -1.23 B | -1.23 B | -8.56 B | -8.56 B | -8.56 B | -8.56 B | -11.3 B | -11.3 B | -11.3 B | -11.3 B | -9.46 B | -9.46 B | -9.46 B | -9.46 B | -7.59 B | -7.59 B | -7.59 B | -7.59 B | -5.51 B | -5.65 B |
Total Assets |
64.2 B | 63.7 B | 61.8 B | 62.1 B | 63.7 B | 62.6 B | 61.8 B | 63.5 B | 64.1 B | 64.4 B | 63.1 B | 65.7 B | 67.3 B | 66.8 B | 64.7 B | 66.7 B | 68 B | 67.4 B | 66.5 B | 68.4 B | 72.5 B | 66.5 B | 62 B | 62 B | 62 B | 62 B | 60 B | 60 B | 60 B | 60 B | 60.6 B | 60.6 B | 60.6 B | 60.6 B | 52.8 B | 52.8 B | 52.8 B | 52.8 B | 51.3 B | 51.3 B | 51.3 B | 51.3 B | 48.4 B | 48.4 B | 48.4 B | 48.4 B | 43.2 B | 43.8 B | 43.8 B | 43.8 B | 42.3 B | 42.3 B | 42.3 B | 42.3 B | 23.5 B | 23.5 B | 23.5 B | 23.5 B | 23.8 B | 23.8 B | 23.8 B | 23.8 B | 25.4 B | 25.9 B |
Cash and Cash Equivalents |
1.03 B | 903 M | 954 M | 835 M | 833 M | 835 M | 804 M | 834 M | 605 M | 604 M | 578 M | 577 M | 614 M | 452 M | 440 M | 332 M | 401 M | 376 M | 273 M | 293 M | 325 M | 273 M | 245 M | 245 M | 245 M | 245 M | 280 M | 280 M | 280 M | 280 M | 275 M | 275 M | 275 M | 275 M | 295 M | 295 M | 295 M | 295 M | 322 M | 322 M | 322 M | 322 M | 390 M | 390 M | 390 M | 390 M | 994 M | 1.18 B | 1.21 B | 1.26 B | 1.14 B | 717 M | 1.14 B | 1.14 B | 480 M | 480 M | 480 M | 480 M | 283 M | 283 M | 283 M | 283 M | 202 M | 197 M |
Book Value |
64.2 B | 63.7 B | 61.8 B | 62.1 B | 63.7 B | 62.6 B | 61.8 B | 63.5 B | 64.1 B | 64.4 B | 63.1 B | 65.7 B | 67.3 B | 66.8 B | 64.7 B | 66.7 B | 68 B | 67.4 B | 66.5 B | 68.4 B | 72.5 B | 66.5 B | 62 B | 62 B | 62 B | 62 B | 60 B | 60 B | 60 B | 60 B | 60.6 B | 60.6 B | 60.6 B | 60.6 B | 52.8 B | 52.8 B | 52.8 B | 52.8 B | 51.3 B | 51.3 B | 51.3 B | 51.3 B | 48.4 B | 48.4 B | 48.4 B | 48.4 B | 43.2 B | 43.8 B | 43.8 B | 43.8 B | 42.3 B | 42.3 B | 42.3 B | 42.3 B | 23.5 B | 23.5 B | 23.5 B | 23.5 B | 23.8 B | 23.8 B | 23.8 B | 23.8 B | 25.4 B | 25.9 B |
Total Shareholders Equity |
-3.97 B | -4.08 B | -3.73 B | -3.96 B | -3.87 B | -4.51 B | -3.98 B | -4.85 B | -4.75 B | -5.5 B | -5.2 B | -5.14 B | -4.38 B | -5.77 B | -5.8 B | -7.89 B | -8.42 B | -8.94 B | -7.34 B | -7.44 B | -7.67 B | -7.94 B | -6.87 B | -6.87 B | -6.87 B | -6.87 B | -118 M | -118 M | -118 M | -118 M | -169 M | -169 M | -169 M | -169 M | -780 M | -780 M | -780 M | -780 M | -284 M | 3.78 B | 3.78 B | 3.78 B | 5.64 B | 5.64 B | 5.64 B | 5.64 B | 2.02 B | 2.02 B | 2.02 B | 2.02 B | -2.73 B | -2.73 B | -2.73 B | -2.73 B | -7.99 B | -7.99 B | -7.99 B | -7.99 B | -7.11 B | -7.11 B | -7.11 B | -7.11 B | -3.64 B | -3.93 B |
Quarterly performance
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All numbers in USD currency
Balance Sheet is a fundamental financial report of American Airlines Group, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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