American Plans To Let 'Eagle' Fly On Its Own | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date



Airborne-Wednesday Airborne-Thursday


Airborne On YouTube



Airborne-Unlimited-06.12.24 Airborne-FltTraining-06.13.24


Thu, Jul 21, 2011

American Plans To Let 'Eagle' Fly On Its Own

AMR Corporation Announces Intent To Move Forward With The Divestiture Of American Eagle

AMR Corporation, the parent company of American Airlines, announced Wednesday its intent to move forward with the divestiture of AMR Eagle Holding Corporation ("Eagle"). AMR currently expects the divestiture to take the form of a spin-off of Eagle stock to the shareholders of AMR.

"We believe that a divestiture of Eagle would be in the best interests of AMR and Eagle, as well as our shareholders, customers and employees," said AMR Chairman and CEO Gerard Arpey. "Strategically for AMR, it would be beneficial, as we could, over time, diversify our regional feed with additional regional airlines to ensure we have access to the most competitive rates and service. A divestiture could provide Eagle an opportunity to vie for business of other mainline carriers and allow the carrier to grow. I am proud of the accomplishments of American and Eagle as a combined group of companies under AMR for the past 26 years, and I look forward to their future, independent successes."
"For everyone here at Eagle, our highest priority will be to continue operating safely and reliably for all of our customers – and earning American's business every day," said Dan Garton, President and CEO of AMR Eagle and American Eagle Airlines. "We are excited about today's announcement and the opportunities for growth that would be available to us as an independent carrier. We're eager to take on those new challenges."

As part of the process of preparing for a potential spin-off of Eagle, in August AMR Eagle Holding Corporation expects to file a Registration Statement on Form 10 with the Securities and Exchange Commission related to the intended divestiture. The Registration Statement on Form 10 will describe the divestiture and will contain important information about Eagle, including its historical consolidated financial statements.
A specific time frame for the divestiture has not been announced. The company currently envisions the divestiture as a spin-off, however, it remains open to other options, including a sale, as the transaction moves forward.



More News

USCG MH-60 To The Rescue (Again) -- Rescues 4 Boaters

Capsized Vessel Located Near Dauphin Island, Alabama The Coast Guard rescued four boaters after their vessel capsized near Dauphin Island, Alabama, Thursday. Coast Guard District E>[...]

Gray Eagle Order Placed for Army National Guard

Reserve Components Looking to Improve In-House General Atomics Aeronautical Systems announced a fresh order for a dozen Gray Eagle 25M UAVs with accompanying equipment, for fulfill>[...]

Aero-Biz Survival 101 (1120a): Expert Ideas To Help You Through Tough Times

Brand New! Avoid The Need For A Comeback... Get Your Marketing Right, Right Now! Some time ago, the Aero-News Network, responding to numerous requests, established a marketing and >[...]

Airborne 06.03.24: Rotax 915/916 SB, Starship 4 Ready?, B-17 Mementos

Also: Hubble On Pause, FedEx Pilots Picket, Nexus eVTOL, VFS Honors The Rotax folks have published a Service Bulletin after issues were noted that may affect all R915i and R916i se>[...]

Mid-Continent Instruments and Avionics Mourns Former Leader

John W. Winter of AEA and Avionic Fame Passes John W. Winter brought Mid-Continent Instrument Company into the modern era in 1980, purchasing the firm and using it as a base for ex>[...]

blog comments powered by Disqus





© 2007 - 2024 Web Development & Design by Pauli Systems, LC