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AMR Corporation To
Move Forward With The Divestiture Of American Eagle By Steve Hall |
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July 25, 2011 - AMR Corporation, the parent company of
American Airlines, announced its intent to move forward
with the divestiture of AMR Eagle Holding Corporation
("Eagle"). AMR currently expects the divestiture to take
the form of a spin-off of Eagle stock to the
shareholders of AMR.
"We believe that a divestiture of Eagle would be in the
best interests of AMR and Eagle, as well as our
shareholders, customers and employees," said AMR
Chairman and CEO Gerard Arpey.
"Strategically for AMR, it would be beneficial, as we could, over time, diversify our regional feed with additional regional airlines to ensure we have access to the most competitive rates and service. |
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?A
divestiture could provide Eagle an opportunity to vie for
business of other mainline carriers and allow the carrier to
grow. I am proud of the accomplishments of American and Eagle as
a combined group of companies under AMR for the past 26 years,
and I look forward to their future, independent successes."
American
Eagle Airlines is a brand name used by American Eagle Airlines,
Inc. (formerly Simmons Airlines), based in Fort Worth, Texas,
and Executive Airlines based in San Juan, Puerto Rico, in the
operation of passenger air service as regional affiliates of
American Airlines. All three airlines are wholly owned
subsidiaries of AMR Corp.
American
Airlines also allows codeshares with unrelated regional airlines
under contract to provide regional service under the American
Connection brand. Operating over 1,800 flights a day, serving
159 cities across the USA, Canada, Mexico and the Caribbean,
American Eagle is considered to be the world's largest regional
airline system.
The
American Eagle brand is an affiliate member of the Oneworld
airline alliance, and has a code share agreement with Delta Air
Lines on California routes. The name was also used between April
1980 and April 1981 by an unrelated air charter service that
suspended operations and filed bankruptcy before flying any
scheduled operations. "For everyone here at Eagle, our highest priority will be to continue operating safely and reliably for all of our customers ? and earning American's business every day," said Dan Garton, President and CEO of AMR Eagle and American Eagle Airlines. "We are excited about today's announcement and the opportunities for growth that would be available to us as an independent carrier. We're eager to take on those new challenges." |