American Airlines Group Inc. Adopts Tax Benefit Preservation Plan for Net Operating Losses
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Wednesday, December 22, 2021
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FORT WORTH, Texas, Dec. 22, 2021 (GLOBE NEWSWIRE) -- American Airlines Group Inc. (the Company or American Airlines) (NASDAQ: AAL) announced today that its Board of Directors has adopted a tax benefit preservation plan to help preserve the value of its net operating losses and other tax attributes.
Key Points:
- FORT WORTH, Texas, Dec. 22, 2021 (GLOBE NEWSWIRE) -- American Airlines Group Inc. (the Company or American Airlines) (NASDAQ: AAL) announced today that its Board of Directors has adopted a tax benefit preservation plan to help preserve the value of its net operating losses and other tax attributes.
- The tax benefit preservation plan was adopted to protect an important asset of American Airlines that may have meaningful value to all American Airlines stockholders.
- The tax benefit preservation plan reduces the likelihood that changes in the American Airlines investor base would limit future use of its tax benefits, which would significantly impair the value of the benefits to all stockholders.
- As part of the plan, the American Airlines Board of Directors declared a dividend of one preferred stock purchase right, which are referred to as rights, for each outstanding share of American Airlines common stock.