Replies to post #36225 on American Airlines Group Inc (AAL)

[jimmc]

Positive vaccine trial news

[AISI304]

Yessir. "July 15, 2020, American distributed a letter to employees regarding the possibility of a workforce reduction at their work location." AAL filed an 8-K AH today at 5:14 PM. Corporate cost containment/reduction.

https://ih.advfn.com/stock-market/NASDAQ/american-airlines-AAL/stock-news/82863654/current-report-filing-8-k

"ITEM 2.05. COSTS ASSOCIATED WITH EXIT OR DISPOSAL ACTIVITIES.
On July 15, 2020, in order to comply with various labor regulations in certain jurisdictions, including pursuant to the Worker Adjustment and Retraining Notification Act, American Airlines, Inc. (“American”), a wholly-owned subsidiary of American Airlines Group Inc. (the “Company”), informed approximately 25,000 U.S.-based employees of American and its affiliates, either directly or through a union representative, of the possibility of a workforce reduction at their work location. These notices are part of American’s response to the impacts of the COVID-19 pandemic on American’s business. As of the date hereof and based on current facts, American expects that these actions, if any, will take effect on or after October 1, 2020, and may continue through the end of 2020.
At this time, the Company is unable to make a good faith determination of an estimate or range of estimates required by paragraphs (b), (c) and (d) of Item 2.05 of Form 8-K with respect to workforce reduction actions in the remainder of 2020. The Company will file an amendment to this report after it makes a determination of such estimate or range of estimates, if any.

ITEM 7.01. REGULATION FD DISCLOSURE.
As discussed above, on July 15, 2020, American distributed a letter to employees regarding the possibility of a workforce reduction at their work location. This internal communication is furnished herewith as Exhibit 99.1 and is incorporated by reference into this Item 7.01.
The information in Item 7.01, including Exhibit 99.1, is being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section and shall not be deemed incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended (the “Securities Act”), except as shall be expressly set forth by specific reference in such filing."