AMR, US Airways apply to list combined company common stock on Nasdaq

By Caroline Salls

Pittsburgh, Nov. 15 - AMR Corp. and US Airways Group, Inc. have applied to list the common stock of the combined company on the Nasdaq Global Select Market, with the combined American Airlines Group Inc. to use ticker symbol AAL upon closing of the airlines' merger and AMR's emergence from Chapter 11, according to a news release.

Additionally, the common stock of both US Airways Group, Inc. and AMR Corp. will be cancelled and shareholders will receive equity interests in American Airlines Group Inc. per the terms of the plan and merger agreement.

"Today we moved another step closer in our preparation to launch the new American Airlines," AMR chairman, president and chief executive officer and incoming chairman of the new company Tom Horton said in the release.

Dough Parker, US Airways' chairman and CEO and incoming CEO of the new company, said in the release "The combined airline will have a strong financial foundation and is poised to deliver significant value to shareholders as a result of its robust global network."

Completion of the merger remains subject to approval by the U.S. Bankruptcy Court for the Southern District of New York and other conditions. The companies expect to complete the merger in December.

AMR Corp., the Fort Worth-based parent of American Airlines, filed for bankruptcy on Nov. 29, 2011. Its Chapter 11 case number is 11-15463.

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