Representing the Flight Attendants
of American Airlines
Representing the Flight Attendants of American Airlines
6.30.14 – (LAA) – APFA Receives Additional Equity
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APFA Special Hotline – APFA Receives Additional Equity
As had been previously explained on JetNet and the APFA equity website, during the bankruptcy American contested the validity of a number of claims filed by various entities and individuals. In the event the Bankruptcy Court found any of these claims to be valid, American established a Disputed Claims Reserve of stock.
Today, the Company announced that shares from the Disputed Claims Reserve will be distributed to certain creditors whose claims have now been resolved. APFA is entitled to 3% of all equity distributed to unsecured creditors. This 3% allocation applies to the additional equity being distributed to unsecured creditors from the Disputed Claims Reserve. As a result there will be an APFA stock allocation that will be distributed to eligible Flight Attendants.
This distribution will be very small and because the company can only issue a whole number of shares, not all employees will receive shares.
Read the Q&As regarding the Disputed Claims Reserve distribution on Jetnet.
AmericanAirlines + US Airways
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Leslie Mayo
APFA National Communications Coordinator
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