In this episode of QAV America, Cameron and Tony dive into a deep analysis of American Airlines (AAL) — exploring its towering debt, its loyalty program goldmine, and its future prospects. They unpack how AAL’s Advantage points system, underpinned by a major new 10-year co-branded card deal with Citi, might serve as both ballast and buoy for a company flying through turbulence. Along the way, they riff on the airline industry’s cyclic nature, the debt-leverage paradox, and the Piotroski F-Score quirks that make AAL intriguing. Climate change, loyalty economics, Pratt & Whitney’s cursed engines, and the Buffett-era lessons on airline KPIs all make an appearance. After the financial deep-dive, the conversation drifts into lighter territory—Scorsese films, Gravity’s Rainbow, and Cameron’s bruising Kung Fu grading.