Replies to post #15336 on American Airlines Group Inc (AAL)

[j4turbo]

JML - I don't follow your logic.

"So if there is a cap on the preferred shares then there is a partial cap on the AAMRQ shares."

There is a cap on preferred shares - agreed, but not sure how this places a partial cap on the AAMRQ shares.

The following section states that shares in excess of cap means on convertible shares. There is no cap to AAMRQ. We will receive excess of cap and excess of non-preferred debt, those shares won't go undistributed.

1.147 Mandatory Shares in Excess of Cap means, with respect to any
Mandatory Conversion Date with respect to which 96.5% of the VWAP
calculated with respect to such Mandatory Conversion Date exceeds the Preferred Conversion Cap