American Airlines : Commits $1.6 Billion Investment, Will Continue to Grow Presence at LAX

LOS ANGELES - American Airlines and the Los Angeles World Airports (LAWA) announced today that American would continue its investment at LAX, committing more than $1.6 billion over the next 15 years. The investment will go toward improvements of Terminals 4 and 5.

American's letter of intent sets the framework for negotiation of a new 15-year lease agreement and features airport improvement projects that would be made possible by the investment. The agreement also paves the way for American to receive additional gates as they continue to grow their operation and add destinations.

'This investment will not only improve the customer experience, but it will also give our employees a better place to work every day while allowing us to continue to grow in the marketplace,' said Doug Parker, Chairman and CEO of American Airlines. 'It's an exciting time for the U.S. airline industry and for American in particular. Today, U.S. airlines are healthy and investing back into their businesses and the communities they serve. What we are doing here today is a great example of that.'

For more information about LAWA and American's investment at LAX, please visit LAWA.org.

About American Airlines Group
American Airlinesand American Eagle offer an average of nearly 6,700 flights per day to nearly 350 destinations in more than 50 countries. American has hubs in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York, Philadelphia, Phoenix, and Washington, D.C. American is a founding member of the oneworld® alliance, whose members serve more than 1,000 destinations with about 14,250 daily flights to over 150 countries. Shares of American Airlines Group Inc.trade on Nasdaq under the ticker symbol AAL. In 2015, its stock joined the S&P 500 index. Connect with American on Twitter @AmericanAirand at Facebook.com/AmericanAirlines.