AA joins the other airlines in borrowing money from their award program partner banks:
http://finance.yahoo.com/news/AMR-Corporat...ml?x=0&.v=1
Other amounts discussed in the press release are primarily financing for new 738s to be delivered in the next couple of years.
Amending an existing agreement under which AMR will receive $1 billion in cash from the advance sale of AAdvantage frequent flyer miles to Citi, American's long-standing credit card partner. The advance sale of AAdvantage miles largely will be treated as a loan for accounting purposes. Citibank has the right to use the miles in equal monthly installments over the 2012-2016 timeframe. The transaction provides other benefits for Citi, including an extension of the co-branded credit card program.
http://finance.yahoo.com/news/AMR-Corporat...ml?x=0&.v=1
Other amounts discussed in the press release are primarily financing for new 738s to be delivered in the next couple of years.