This is Gregg Overman, APA Communications Director, with the APA
Information Hotline for Tuesday, May 25.
AX ARBITRATION AWARD: As announced last Friday, the APA Board of Directors approved a motion during its Special Meeting seeking payment of the AX arbitration award. President Darrah subsequently requested payment of the award from management, and today AMR wired APA $23,248,364, which constitutes the full amount of the award.
APA will hold these funds while the Board continues to deliberate their final disposition. As we have previously noted, the Board has considered a range of options with regard to the award amount, including various contractual enhancements.
That's it for today. Thank you for calling.