« Spirit starts service to Cancun, Los Angeles and Oakland out of DFW on Thursday | Main | TWU, IAM agree on seniority lists for mechanics, fleet service and stock clerk workers at combined American/US Airways »

April 26, 2013

New American likely to have a new ticker symbol

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.

AMR.

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.

-Andrea Ahles

TrackBack

TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d8341c2cc953ef017eea98aa9d970d

Listed below are links to weblogs that reference New American likely to have a new ticker symbol:

Comments

whitey

SMART MOVE MR PARKER. NOW THE NAME HAS TO GO AWAY ALONG WITH THE CROOKS WHO RAN IT. ARE YOU HEARING THIS ARPEY HORTON AND THE BOARD OF DIRECTORS? OH AND BY THE WAY MAKE SURE YOU GET RID OF THAT TERMITE ROGER STABACH MR PARKER!!!!!!!

Post a comment

Comments are moderated, and will not appear on this weblog until the author has approved them.

If you have a TypeKey or TypePad account, please Sign In.