Equity Update Letter from ATD Director Mike Mayes, June 8, 2017

Dear American Airlines Members:

Last month, in an update in the American Airlines equity distribution case, we informed you
that the United States Court of Appeals for the Ninth Circuit had issued a decision and
opinion affirming the decision of the District Court for the Northern District of California in
the case of Demetrius v. TWU, dismissing claims that the method adopted by TWU to
distribute equity in American Airlines gained in during bankruptcy violated TWU’s duty of fair
representation.

On June 5, plaintiffs in the case filed papers asking that the Court of Appeals to reconsider its
decision. Whether it grants any further review is entirely within the discretion of the judges
of the Ninth Circuit. It is very difficult to predict when the Court will decide plaintiffs’ request
for reconsideration, but TWU regards the Ninth Circuit’s opinion in the matter as well
reasoned and solid, and is optimistic that the judges will find no need to take the fairly
unusual step of reconsidering the matter. We will keep you updated regarding any further
developments in the Court of Appeals.

You should be aware that, in the event that the Court decides not to reconsider the case, the
plaintiffs will have 90 days to ask the United States Supreme Court to exercise its discretion
to grant a writ of certiorari to review the issue. For a write of certiorari to be granted, four of
the nine Justices on the Court would have to vote to hear the issue raised.

Although we believe that the decision of the Court of Appeals puts us on the road to a final
victory in the case, it is highly unlikely—should the plaintiffs decide to exercise all their
procedural rights in this case—that any distribution will take place prior to 2018.

In Solidarity,
Mike Mayes
Director, Air Division
TWU International

AA Equity Letter from ATD Director Mike Mayes – 6-8-17 in PDF