ITEM 7.01. REGULATION FD DISCLOSURE.




As previously reported, American Airlines, Inc. ("American"), entered into an
indenture, dated as of June 30, 2020, by and among American, American Airlines
Group Inc. and Wilmington Trust, National Association, as trustee (the
"Trustee"), relating to American's 11.75% Senior Secured Notes due 2025 (the
"Notes"). Pursuant to the Indenture, American is required to deliver to the
Trustee periodic appraisals with respect to the appraised value of the first
lien collateral for the Notes, which first lien collateral consists of certain
assets, rights and properties that American uses to provide non-stop scheduled
air carrier services between (a) certain airports in the United States and (b)
certain airports in Australia, Canada, the Caribbean, Central America, China,
Hong Kong, Japan, Mexico, South Korea, and Switzerland (collectively, the "First
Lien Collateral").
American has delivered to the Trustee appraisals, each dated November 24, 2020,
with respect to the First Lien Collateral. Using a discount rate of 11.5% and a
perpetuity growth rate of 1.5%, the aggregate appraised value of the First Lien
Collateral reflected in the appraisals is $7.111 billion.
The appraisals are subject to a number of significant assumptions, limitations
and risks, and were prepared based on certain specified methodologies described
therein, including a discounted net present value calculation to projected
annual cash flows of certain of American's scheduled services. The appraisals
may not accurately reflect the fair market or realizable value of the First Lien
Collateral. An appraisal that is subject to different assumptions, limitations
and risks, and/or that is based on other methodologies, may result in valuations
that are materially different from those contained in the appraisals summarized
above.
The information in Item 7.01 is being furnished and shall not be deemed to be
"filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as
amended, or otherwise subject to the liabilities of that Section and shall not
be deemed incorporated by reference into any registration statement or other
document filed pursuant to the Securities Act of 1933, as amended, except as
shall be expressly set forth by specific reference in such filing.

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