AMR Corporation has received written notification from the New York Stock Exchange advising its common stock - traded under the symbol AMR - will be suspended from trading.
AMR - the parent of American Airlines and regional carrier American Eagle – recently filed for Chapter 11 bankruptcy protection.
The suspension of its shares will begin prior to the opening of the market on Thursday.
NYSE advised AMR that it is taking these steps because the average closing price of AMR’s common stock fell below the NYSE’s continued listing minimum share price standard of $1 over a consecutive 30-trading-day period.
Due to the company’s Chapter 11 filing, AMR is not able to affirm intent to cure the aforementioned share price deficiency and, accordingly, did not oppose the suspension and delisting of its securities.