American Airlines offers Class B pass-through certificates backed by 37 aircraft; size TBD

Filed July 29, 2026 · ~2 min read

Key Changes

• high

  American is issuing Class B Certificates representing fractional interests in a trust that will hold equipment notes secured by 37 aircraft (9 new A321neo, 5 new A321 XLR, 13 used A321-200, 2 used Boeing 777-300ER, 8 new Embraer E175). Issuance is conditioned on concurrent issuance of Class A Certificates offered separately.

  The Offering verify on EDGAR →
• high

  Proceeds are deposited with a depositary and held in escrow to purchase equipment notes as aircraft are financed through February 2027. If aircraft are not financed by October 31, 2027 (or December 31, 2027 if delays are beyond American's control), remaining deposits plus interest are returned to investors.

  Use of Proceeds verify on EDGAR →
• high

  Class B certificates are subordinated to Class A in the payment waterfall. The filing warns that in a liquidation, Class B holders may recover less than unsecured creditors of the same claim amount due to subordination.

  Risk Factors verify on EDGAR →