AMR Corporation and US Airways Group announced (15-Nov-2013) 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." The common stock of both US Airways Group 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 Reorganisation. AMR creditors, shareholders, and bondholders will gain 72% of the new combined company, and US Airways shareholders will gain the remaining 28%. [more - original PR]
AMR Corporation and US Airways Group to list combined common stock on NASDAQ Global Select Mkt
You may also be interested in the following articles...
United Airlines stresses that capacity adds are accretive as 2Q2017 unit revenues turn positive
United Airlines expects to attain a positive passenger unit revenue performance in 2Q2017, which would mark the first positive result for the airline in that metric since early 2015. The airline’s PRASM results in 1Q2017 were in line with its initial forecast, which was more conservative than those of its larger US rivals. American and Delta refined their 1Q2017 unit revenue forecast downward, while United kept its guidance intact, and its performance fell within its initial estimates.
The airline’s 2Q2017 positive unit revenue outlook is driven by many factors, including a shift in its management of close in bookings to reduce reliance on advance purchase discounts. Latin America and the US domestic market continue to be bright spots for United, while declines in Pacific unit revenue continue to moderate. United’s better than expected unit revenue performance in trans-Atlantic markets in 1Q2017 should moderate as point of sale tilts more toward Europe later in the year.
Markets seem still to be digesting United’s decision to increase its planned 2017 capacity growth by 1.5ppt. United is stressing that much of the growth is driven by increased gauge, and the growth is designed to restore United to its natural share in the US domestic market.
Frontier to celebrate ULCC transition with an IPO: intensity grows in the US competitive landscape
After toying with the idea of engaging in an initial public offering for more than year, the US ULCC Frontier Airlines now intends to go public as its major shareholder, ULCC specialist Indigo Partners, sets its sights on Argentina. Frontier has arrived at and passed many ULCC milestones, including producing unit costs excluding fuel below the USD6 cent benchmark for the ULCC model, placing it on par with its fellow ULCCs Spirit Airlines and Allegiant.
Frontier markets its product differently from other US ULCCs, giving passengers the options to purchase product in a bundled form or a la carte, but it still maintains ultra low fares. However, Frontier couldn’t escape the pricing pressure that permeated the US market in 2016, joining the majority of the country’s airlines in posting distinct yield and unit revenue declines.
Obviously, despite the pricing pressure and changing dynamics in the US market, Frontier remains bullish on the opportunities for ULCCs in the market place, concluding that numerous markets exist for it to operate profitably with low fares.
During the past several years Frontier’s network focus has been somewhat murky. Now Frontier’s network strategy is targeting high fare, underserved routes. And like its rival Spirit, Frontier also singles out medium sized markets that offer some protection from larger competitors.