American Airlines offers pass-through certificates backed by 37 aircraft; proceeds finance new deliveries and refinance owned planes

Filed July 29, 2026 · ~2 min read

Key Changes

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  American is offering Class A Certificates representing fractional interests in a pass-through trust that will own equipment notes secured by 37 aircraft (9 new A321neo, 5 new A321 XLR, 13 used A321-200, 2 used Boeing 777-300ER, and 8 new Embraer E175). Class B Certificates are not part of this offering.

  The Offering verify on EDGAR →
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  Offering proceeds are deposited with a third-party depositary in separate accounts for each aircraft. Funds are withdrawn only when an aircraft is financed and Equipment Notes are purchased. If aircraft are not financed by October 31, 2027 (or December 31, 2027 under certain conditions), unspent proceeds are automatically returned to investors with accrued interest.

  Use of Proceeds verify on EDGAR →
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  The 37 aircraft have an aggregate appraised value of $1.77 billion as of July 1, 2026, but the filing warns that appraisals are only estimates and proceeds from selling aircraft may be less than appraised values, potentially leaving insufficient funds to satisfy payments on the Equipment Notes or distributions on the Certificates.

  Use of Proceeds verify on EDGAR →