American Airlines Group Inc (AAL)

[8mileshigh]

Terry Maxon seems to think that the last distribution may be some time away, if ever!



Sorry, AAMRQ holders, you won’t be getting any more stock soon
By Terry Maxon

[e-mail]
7:18 pm on June 27, 2014





A number of holders of AAMRQ shares have contacted me in recent weeks to ask about whether they’ll be getting some more shares on June 30.

Sorry, not yet.

I’m told that there’ll be a quarterly distribution as of June 30, but it will go to parties who had disputed claims approved during the quarter. The claims are paid in stock, not cash.

In addition, 23.5 percent of the shares to be distributed will go to American Airlines labor groups. That basically “trues up” their distribution stemming from labor’s own claims.

The word is that slightly less than 3 million shares will be distributed – 2.93 million to be more exact. They’ll show up in accounts July 2.

As for AAMRQ holders, there will be no potential distribution until all of the disputed claims are resolved, which may take a year or two. Or three.

The disputed claims reserve started out at $755 million. If there’s any left over after all the claims are handled, AAMRQ holders will get another distribution. But only that one, and at a time uncertain. That’s my understanding, in any case.