FORT WORTH, Texas, and
TEMPE, Ariz., Nov. 15, 2013 /PRNewswire/ -- AMR Corporation
(OTCQB: AAMRQ), whose principal operating subsidiary is American
Airlines, Inc., and US Airways Group, Inc. (NYSE: LCC) today
announced that they have applied to list the common stock of the
combined company on the NASDAQ Global Select Market. Upon closing
of the merger and AMR's emergence from Chapter 11, the combined
company will be renamed American Airlines Group Inc. and will use
the ticker symbol "AAL." Additionally, the common stock of both US
Airways Group, Inc. and AMR Corporation will be cancelled and
shareholders will receive equity interests in American Airlines
Group Inc. per the terms of the Merger Agreement and Plan of
Reorganization.
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"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 CEO, and incoming
chairman of the board of the new American Airlines.
"We are very excited about the listing of our shares on the
NASDAQ Global Select Market," said Doug
Parker, chairman and CEO, US Airways, and incoming CEO 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."
"NASDAQ congratulates American Airlines and US Airways on their
pending merger, which will solidify the company's presence as a
premier global airline," said Bob
Greifeld, CEO of NASDAQ OMX. "We are pleased to have the new
American Airlines call NASDAQ home and we look forward to
celebrating many milestones with the company and its shareholders
in the years to come."
Completion of the merger remains subject to approval by the U.S.
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.
About American Airlines
American Airlines focuses on providing an exceptional travel
experience across the globe, serving more than 270 airports in
nearly 50 countries and territories. American's fleet of nearly 900
aircraft fly more than 3,500 daily flights worldwide from hubs in
Chicago, Dallas/Fort Worth, Los Angeles, Miami and New
York. American flies to nearly 100 international locations
including important markets such as London, Madrid, Sao
Paulo and Tokyo. With more
than 500 new planes scheduled to join the fleet, including
continued deliveries of the Boeing 737 family of aircraft and new
additions such as the Boeing 777-300ER and the Airbus A320 family
of aircraft, American is building toward the youngest and most
modern fleet among major U.S. carriers. American's website,
AA.com®, provides customers with easy access to check
and book fares, and personalized news, information and travel
offers. American's AAdvantage® program, voted Airline
Program of the Year at the 2013 Freddie Awards, lets members redeem
miles for flights to almost 950 destinations worldwide, as well as
flight upgrades, vacation packages, car rentals, hotel stays and
other retail products. The airline also offers nearly 40 Admirals
Club® locations worldwide providing comfort,
convenience, and an environment with a full range of services
making it easy for customers to stay productive without
interruption. American is a founding member of the
oneworld® alliance, which brings together some of
the best and biggest airlines in the world, including global brands
like British Airways, Cathay Pacific, Iberia Airlines, Japan
Airlines, LAN and Qantas. Together, its members serve nearly 900
destinations served by more than 10,000 daily flights to more than
150 countries. Connect with American on Twitter @AmericanAir or
Facebook.com/AmericanAirlines. American Airlines, Inc. and American
Eagle Airlines, Inc. are subsidiaries of AMR Corporation. AMR
Corporation common stock trades under the symbol "AAMRQ" on the
OTCQB marketplace, operated by OTC Markets Group.
About US Airways
US Airways, along with US Airways Shuttle and US Airways
Express, operates more than 3,100 flights per day and serves 198
communities in the U.S., Canada,
Mexico, Europe, the Middle
East, the Caribbean,
Central and South America. The
airline employs more than 32,000 aviation professionals worldwide,
operates the world's largest fleet of Airbus aircraft and is a
member of the Star Alliance network, which offers its customers
more than 21,900 daily flights to 1,329 airports in 194 countries.
Together with its US Airways Express partners, the airline serves
approximately 80 million passengers each year and operates hubs in
Charlotte, N.C., Philadelphia, Phoenix and Washington, D.C. Aviation Week and Overhaul
& Maintenance magazine presented US Airways with the 2012
Aviation Maintenance, Repair and Overhaul (MRO) of the Year Award
for demonstrating outstanding achievement and innovation in the
area of technical operations. Military Times Edge magazine named US
Airways as a Best for Vets employer for the past three years. US
Airways was, for the third year in a row, the only airline included
as one of the 50 best companies to work for in the U.S. by LATINA
Style magazine's 50 Report. The airline also earned a 100 percent
rating on the Human Rights Campaign Corporate Equality index for
six consecutive years. The Corporate Equality index is a leading
indicator of companies' attitudes and policies toward lesbian, gay,
bisexual and transgender employees and customers. For more company
information visit usairways.com, follow on Twitter @USAirways or at
Facebook.com/USAirways.
Cautionary Statement Regarding Forward-Looking
Statements
This document includes forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements may be identified by words
such as "may," "will," "expect," "intend," "anticipate," "believe,"
"estimate," "plan," "project," "could," "should," "would,"
"continue," "seek," "target," "guidance," "outlook," "if current
trends continue," "optimistic," "forecast" and other similar words.
These forward-looking statements are based on AMR's and US Airways'
current objectives, beliefs and expectations, and they are subject
to significant risks and uncertainties that may cause actual
results and financial position and timing of certain events to
differ materially from the information in the forward-looking
statements. The following factors, among others, could cause
actual results and financial position and timing of certain events
to differ materially from those described in the forward-looking
statements: the challenges and costs of the proposed
transaction, including integrating operations and our ability to
achieve anticipated annual net synergies of more than $1 billion in 2015; the effects of divestitures
pursuant to the announced settlement with the Department of
Justice, Department of Transportation and certain state attorneys
general; the price of, market for and potential market price
volatility of US Airways common stock, AMR common stock and the
common stock of American Airlines Group following the closing
of the proposed transaction; significant liquidity requirements and
substantial levels of indebtedness of American Airlines Group
following the closing; potential limitations on the use of certain
tax attributes following the closing; failure of the proposed
transaction to be completed; and other economic, business,
competitive, and/or regulatory factors affecting the business of
American Airlines Group after the closing and the businesses
of US Airways and AMR generally, including those set forth in the
filings of US Airways and AMR with the SEC, especially in the "Risk
Factors" and "Management's Discussion and Analysis of Financial
Condition and Results of Operations" sections of their respective
annual reports on Form 10-K and quarterly reports on Form 10-Q,
their current reports on Form 8-K and other SEC filings, including
the registration statement and the proxy statement/prospectus
related to the proposed transaction. Any forward-looking
statements speak only as of the date hereof or as of the dates
indicated in the statements. Neither AMR nor US Airways
assumes any obligation to publicly update or supplement any
forward-looking statement to reflect actual results, changes in
assumptions or changes in other factors affecting these
forward-looking statements except as required by law.
Additional Information and Where To Find It
Investors and security holders of US Airways are urged to read
the relevant documents filed BY AMR AND US AIRWAYS with the SEC
carefully and in their entirety because they contain important
information about the proposed transaction. Investors and
security holders may obtain free copies of AMR's and US Airways'
SEC filings through the website maintained by the SEC at
http://www.sec.gov. Copies of the documents filed with the
SEC by US Airways can be obtained free of charge on US Airways'
website at www.usairways.com or by directing a written request
to US Airways Group, Inc., 111 West Rio Salado Parkway,
Tempe, Arizona 85281, Attention:
Vice President, Legal Affairs. Copies of the documents filed
with the SEC by AMR can be obtained free of charge on AMR's website
at www.aa.com or by directing a written request to AMR
Corporation, P.O. Box 619616, MD 5675, Dallas/Fort Worth International Airport,
Texas 75261-9616, Attention:
Investor Relations or by emailing investor.relations@aa.com.
SOURCE AMR Corporation