American Airlines Group Inc. said on Wednesday it was seeking shareholder approval for a rights offering plan to avert any hostile takeovers and preserve a $16.5 billion tax benefit, as the industry grapples with the Omicron coronavirus variant.
The No. 1 U.S. airline said it had cumulative U.S. federal net operating loss carryforwards exceeding $16.5 billion which would be at risk if there is a change in ownership.
