Picking three letters for a stock ticker symbol is one of the many merger transition decisions that US Airways chief executive Doug Parker will have to make when he becomes chief executive of the combined American Airlines-US Airways later this year.
Parker revealed on Wednesday at the company’s media event in Scottsdale that a decision hasn’t been made yet on the stock ticker symbol for the new firm which will be named American Airlines Group.
But he does know one combination it won’t be.
The new company won’t be named AMR Corporation once AMR emerges from bankruptcy later this year, Parker reasoned. He added that he and American chief executive Tom Horton, who will become chairman of the new company, have been emailing back and forth about the ticker symbol.
In 1982, American changed its name to AMR, using the three-letter New York Stock Exchange symbol as its new corporate name since the airline had other businesses including its SABRE reservation system.
“When we put the merger agreement in place, the name of the new company doesn’t have any AMR around it,” Parker said. “Because we want to get away from that and let people know we are here for one reason. We are an airline and that is what we do.”
For those reasons, Parker said AMR is likely not going to continue to be the ticker symbol of the new American.