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4. How variable are American Airlines' variable leases really? In your assessment, use the following information that was obtained from the latest five annual



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4. How variable are American Airlines' variable leases really? In your assessment, use the following information that was obtained from the latest five annual reports: 2022 2021 2020 2019 2018 Operating lease costs 1,987 1,998 1,943 2,012 1,889 Finance lease costs: Amortization of assets 135 107 92 79 78 Interest on lease liabilities 46 44 38 43 48 Variable lease cost 2,472 2,461 1,786 2,542 2,353 Total net lease cost 4,640 4,610 3,859 4,676 4,368 2022 2021 2020 2019 2018 Revenues: Passenger 44,568 26,063 14,518 42,010 40,676 Cargo 1,233 1,314 769 863 1,013 Other 3,164 2,503 2,048 2,888 2,841 Total operating revenues 48,965 29,880 17,335 45,761 44,530

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