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April 08, 2014

American to distribute final common stock allocations to creditors, labor unions and shareholders on Wednesday

Former AMR shareholders, labor unions and creditors will receive another common stock distribution on Wednesday, marking the 120th day since American merged with US Airways.

As part of the bankruptcy restructuring plan, American's labor unions will receive their final stock distribution, another 11.66 million shares, while creditors who hold convertible preferred stock will see their 12.2 million shares converted into common stock.

For shareholders of AAMRQ stock, they will receive another 0.186 shares, for a total of 0.744 shares for every one share of AAMRQ stock.

Based on Tuesday's closing price of American's new stock, AAL, of $35.98, one share of former AAMRQ stock is worth $26.77.

Former AMR shareholders may also receive an additional stock distribution after June 30, depending on how many disputed creditor claims are still outstanding, the carrier said in a filing made Tuesday afternoon.

-Andrea Ahles

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