American Airlines Inc., Fort Worth, Texas, contributed $241 million to its defined benefit plans in January.
The contribution is a portion of the minimum required contributions the airline will make to the DB plans in 2021, which will total about $827 million, according to its 10-K filing Wednesday with the SEC.
Of that total, $130 million consists of minimum contributions for 2020 that were deferred under the provisions of the CARES Act.
American Airlines contributed $1.2 billion to its DB plans in 2019. As of Dec. 31, pension plan assets totaled $13.557 billion, while projected benefit obligations totaled $19.812 billion, for a funding ratio of 68.4%, down from 70.2% a year earlier.
The discount rate for the plans fell to 2.7% as of Dec. 31 from 3.4% the year before.
As of Dec. 31, the DB plans' actual allocation was 36.5% equities, 32.8% alternatives, 30% fixed income, 0.4% cash and cash equivalents and 0.3% other.
The company did not break down contributions or asset allocation by region.