American Airlines Group makes equity distribution update

10 December 2013

The consummation of the merger between AMR Corp. and US Airways Group, Inc. and the effectiveness of AMR´s Plan of Reorganization will result in the distribution of American Airlines Group Inc. common stock (NASDAQ: AAL) and convertible preferred stock (NASDAQ: AALCP) to equity holders, creditors and employees of AMR Corp.

American Airlines Group Inc. has determined that holders of AMR common stock (formerly traded under the symbol: “AAMRQ) will receive, for each share of AMR common stock, an initial distribution of approximately 0.0665 shares of AAL in connection with the occurrence of the effective date of the Plan. AAMRQ holders may in the future receive additional distributions based on the trading price of AAL common stock during the 120 day period after the effective date and the total amount of allowed claims, in each case, in accordance with the terms of the Plan.

American Airlines Group is the holding company for American Airlines and US Airways. Together with American Eagle and US Airways Express, the airlines operate an average of nearly 6,700 flights per day to 339 destinations in 54 countries. A founding member of the oneworld alliance, American Airlines and its members and members-elect, serve 981 destinations with 14,244 daily flights to 151 countries. Connect with American on Twitter @AmericanAir or Facebook.com/AmericanAirlines and follow US Airways on Twitter @USAirways and on Facebook.com/USAirways.

0saves
If you enjoyed this post, please consider leaving a comment or subscribing to the RSS feed to have future articles delivered to your feed reader.

Comments are closed.

Powered by WordPress