Fidelity Becomes Biggest AMR Holder MOVERS MARKETPLACE By Bloomberg

By David Mildenberg

FMR, parent of the mutual fund company Fidelity Investments, has more than doubled its stake in AMR, the owner of American Airlines, to 10.4 percent, becoming the biggest shareholder in the carrier. FMR, based in Boston, disclosed its holdings of 25.8 million shares Friday in a U.S. regulatory filing. American is the world’s largest airline.

AMR’s shares have declined 23 percent this year, as stocks of several major U.S. airlines have fallen because of high jet-fuel prices and competition that limits fare increases. That may be making the carriers attractive, said Ray Neidl, a analyst at Calyon Securities (USA).

“Investors who have money are looking at the airline sector as overly hit, especially AMR when looking at its price/earnings ratio,” Neidl said. “I think this shows some confidence in the industry.” *

David Mildenberg

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