American Airlines’ parent company, AMR Corp., and US Airways have applied as a combined company with NASDAQ. Upon the completion of the merger between the two companies, the new carrier will be listed under the AAL symbol.
This week’s preliminary settlement between the carriers and the Department of Justice, which had banded together with the attorneys general from six states and Washington, D.C., to challenge the merger on antitrust grounds, paved the way for the NASDAQ development. In order to merge with the Justice go-ahead, American and US will divest a large number of slot pairings at domestic airports that will be used by JetBlue, Southwest and other domestic carriers.
With the Justice challenge out of the way, the carriers expect the merger to close in December if the settlement is approved by the U.S. Bankruptcy Court.
“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,” AMR Chairman Tom Horton said in a statement.
American, US Airways apply for joint stock listing
