American Airlines Group Inc. is presenting information relating to its financial and operational outlook at the Bernstein Strategic Decisions Conference. As previously announced, this presentation will be webcast, with the link available at the Company’s website at www.aa.com under “Investor Relations.”

Additionally, the Company is providing investors an update regarding its financial and operational guidance for the second quarter of 2023. The Company now expects total revenue per available seat mile to be down approximately 1.0% to 3.0% versus the second quarter of 2022. This improvement in unit revenue versus prior guidance is driven by continued strength in the demand environment. The Company now expects to pay an average of between $2.55 to $2.65 per gallon of jet fuel in the second quarter.

Based on these updated assumptions, the Company now expects its second quarter adjusted operating margin4 to be approximately 12.5% to 14.5% and adjusted earnings per diluted share5 to be between approximately $1.45 to $1.65. The Company does not intend to provide a further update to its financial and operational guidance until the release of its second quarter 2023 results.

Certain components of the guidance provided exclude fuel and net special items. The updated guidance provided herein is presented to provide comparability with prior guidance. The Company is unable to fully reconcile such forward-looking guidance to the corresponding GAAP measure because the full nature and amount of net special items cannot be determined at this time.