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Well, half true, I got the conversion rate right (and the remaining programme right)! Come on - put that bayonet away.

In any case, you never know - they could renege on the conversion rate. Of course it's unlikely to happen - that would be asking for a PR disaster.

It was mentioned during a CEOs briefing and published on AA.com so I doubt it will change, there are two real unknowns, one is when it happens, and two, what will be redemption levels like post merger.
 
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