American Airlines Group Inc (AAL)

[SoundGuy]

The shares are repurchased on either the open market or from private placements, at the corporations discretion. Not from the reserve fund.

Per the bankruptcy filing, the reserve fund is set aside for the settlement of outstanding lawsuits resulting from the BK, and any remnants will be distributed in a pecking order which is laid out in the filings. The shares to be re-purchased are from the open market, but can also be purchased from private placements and arrangements such as a large investment firm. That’s up to American.