AMR Plans to Divest American Eagle
Posted on: Friday, 30 November 2007, 03:00 CST
AMR Corporation, the parent company of American Airlines, has announced that it plans to divest American Eagle, its wholly owned regional carrier.
AMR, which has been engaged in an ongoing strategic value review process, believes that a divestiture of American Eagle is in the best interests of AMR and its shareholders and will be beneficial to American, American Eagle, their employees and other stakeholders.
The divestiture of American Eagle is intended to provide it with the structure, incentives and opportunities to win new business and provide new opportunities for American Eagle's employees. AMR also believes that the divestiture will enable American to focus on its mainline business, while ensuring American's continued access to cost-competitive regional feed.
Gerard Arpey, chairman and CEO of AMR, said: "The decision comes after a careful and deliberate evaluation of the strategy that will best enable us to continue to create value for our shareholders. We have worked hard over the years to build a regional airline that is fully capable of standing on its own and is well positioned to pursue growth opportunities outside of the AMR corporate structure."
Source: Datamonitor
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