March 17, 2015

Milbank Represents Initial Purchasers in $500M High Yield Notes Offering by American Airlines Group Inc.

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Milbank, Tweed, Hadley & McCloy LLP represented the initial purchasers, led by J.P. Morgan Securities LLC, in the $500 million offering of 4.625% senior notes due 2020 by American Airlines Group Inc. (“AAG”) and guaranteed by American Airlines, Inc. (“American”), US Airways Group, Inc. (“US Airways Group”) and US Airways, Inc.

AAG is expected to use proceeds from the latest offering for general corporate purposes. AAG, together with its wholly-owned regional airlines subsidiaries and third-party regional carriers is the largest airline in the world as measured by revenue passenger miles and available seat miles, and operates an average of nearly 6,700 flights per day to 339 destinations in 54 countries. AAG was formed in 1982 under the name AMR Corporation as the parent company of American which was founded in 1934. AAG and certain of its subsidiaries emerged from voluntary bankruptcy in December 2013, at which time it began the process of merging with US Airways Group and its consolidated subsidiaries. Together, the consolidated entity is working towards operational integration, which will result in the issuance by the Federal Aviation Administration of a single operating certificate.

The Milbank team was led by Transportation and Space partners Arnie Peinado and Elihu Robertson and special counsel Kevin MacLeod. Also working on the transaction were Global Securities associates Okeoma Moronu, Cora Fanning and Matthew Kusel; Tax partner Andrew Walker and Tax associate Michael Goon.