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New American Airlines to trade on Nasdaq

New American Airlines to trade on Nasdaq

After the American Airlines-US Airways merger closes and American parent company AMR Corporation emerges from Chapter 11, the combined company will be renamed American Airlines Group.

Based in Fort Worth, Texas, the group will trade on the Nasdaq Global Select Market under the symbol AAL.

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

“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 chief executive, and incoming chairman of the board of the new American Airlines.

Completion of the merger remains subject to approval by the US Bankruptcy Court and certain other conditions.

The companies expect to complete the merger in December 2013, assuming such approval is given and other conditions are met.

“We are very excited about the listing of our shares on the NASDAQ Global Select Market,” said Doug Parker, chairman, US Airways, and incoming chief executive 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.”