AAL 2019 Proxy Statement

PROXY STATEMENT SUMMARY This summary contains highlights about our Company and the upcoming 2019 Annual Meeting of Stockholders (the “Annual Meeting”). This summary does not contain all of the information that you should consider in advance of the meeting and we encourage you to read the entire proxy statement and the Annual Report on Form 10-K for the year ended December 31, 2018 that accompanies this proxy statement before voting.

2019 Annual Meeting of Stockholders

Virtual Meeting Access: www.virtualshareholdermeeting.com/aal2019

Date and Time: Wednesday, June 12, 2019 at 9:00 a.m., Central Time

Proxy Mail Date: On or about April 29, 2019.

Record Date: April 15, 2019

Stockholder Engagement and Governance Highlights We welcome and value communication with our stockholders. We engage in proactive dialogue with our largest stockholders year-round to gain an understanding of their perspectives on a wide range of matters, which we regularly share with the Board. Stockholders may communicate directly with our Board as set forth under “Communications with the Board of Directors and Non-Management Directors” on page 33. The following corporate governance and Board practices ensure accountability and enhance effectiveness in the boardroom:

Our Governance Best Practices

Annual Board elections Majority voting standard

✓ Annual Board, committee and director evaluations ✓ Annual review of Board and committee composition ✓ All members of the Audit Committee are designated financial experts ✓ Diverse Board ✓ Significant stock ownership requirements for directors and executive officers ✓ Comprehensive risk management with Board and committee oversight ✓ Commitment to corporate social responsibility

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9 of 10 director nominees are independent

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✓ Robust Lead Independent Director role with responsibilities that conform to leading governance practices ✓ Routine review of Board leadership structure ✓ Regular executive sessions held without management present ✓ Stockholder right to proxy access ✓ Stockholder right to call special meetings of stockholders

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2019 Proxy Statement |