American Airlines Group Inc (AAL)

[junkmanlong1]

oldnick,

Each distribution is based on 41 million preferred shares. The 30,60,90 and 120 are all based on 41 million preferred shares.

The last distribution will be based on 41 million shares.

What they are showing on the aa website is the remaining shares that have not converted. They will take into account the optional conversions to get a total of 41 million for the last distribution.

1st opt dist 10 million @ $25.05
2nd opt dist 10 million @ 27.44
3rd opt dist 4 million @ 33.80
4th opt dist ?? say 4 million @33.80

10 + 10 + 4 + 4 = 28 million in optionals

41 - 28 = 13

13 million remaining to convert on the last distribution.

Only 13 million will convert but when they calculate AAMRQ distribution they will consider the optional conversions.

JML