New American Airlines To Be Listed As 'AAL' On Nasdaq
DALLAS, Texas - For investors who want a piece of American Airlines, it's goodbye AMR, hello AAL.
The airline to be formed by the merger of American and US Airways said Friday it will use the ticker symbol "AAL" and trade on the Nasdaq Stock Market.
American parent AMR Corp. had traded on the New York Stock Exchange under the "AMR" symbol, although the shares have traded only over the counter since shortly after the company's November 2011 bankruptcy filing.
"Today we moved another step closer in our preparations to launch the new American Airlines. NASDAQ offers a most advanced trading platform driven by innovation and efficiency – qualities that complement the new American," said Tom Horton, AMR's chairman, president and CEO.
"We are very excited about the listing of our shares on the NASDAQ Global Select Market," said Doug Parker, chairman and CEO, US Airways, and incoming CEO of the new American Airlines.
"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. We are excited about what's ahead for the new American and what we will be able to deliver for our investors, customers, employees and other stakeholders."
The new company will be called American Airlines Group Inc. and based in Fort Worth, Texas.
The merger is expected to be completed next month, pending approval by the US Bankruptcy court.
The Associated Press contributed to this report.