This has already gone to an arbitrator. AMR claims that they had a "secret verbal agreement" with Bombardier to keep the options open. The arbitrator ruled that 22 of the options were indeed still valid even though they were "secret" and "verbal" and AMR had a duty to tell the APA yet intentionally did not. No penalty to the company, of course.

Bottom line is 22 options still available to exercise.

One can draw their own conclusions about the truthfulness of the "secret verbal" deal worth in the hundreds of million of dollars and the arbitrator's "motivation" for ruling as he did. I know what I think.