American Airlines Group Inc (AAL)

[junkmanlong1]

rcookr1,

It is my understanding that they have a set number of shares they are distributing during each distribution. I believe that number is around 104 million shares.

When the preferred shares convert during the optional conversion those shares are coming out of that 104 million distribution. As they max out the optional conversions that reduces the number of remaining preferred shares. If they max out all the optional distributions the 120 distribution will only have around 4 million remaining preferred shares. Currently they are converting around 41 million during the mandatory 30 day distributions.

167m total preferred shares

10m 1st optional
41m 30 day distribution

10m 2nd optional
41m 60 day distribution

10m 3rd optional
41m 90 day distribution

10m 4th optional
4m 120 day distribution

So since the 120 day only has 4m preferred to convert compared to 41m in the previous distributions the extra shares should go to AAMRQ.

JML