American Airlines parent AMR Corp.'s announcement that it plans to divest subsidiary American Eagle was not enough to reassure shareholder FL Group, which said Friday that it lowered its stake in AMR to 1.1% from 9.1%. The Reykjavik-based investor, which had been one of the airline's largest single shareholders, in September wrote a strongly worded letter to AMR's board urging immediate action to halt the rapid descent of the company's stock price, recommending it spin off its AAdvantage ...

Subscribe to Access this Entire Article

"FL Group, unconvinced by planned Eagle spinoff, divests majority of AMR stake" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.

Already registered? here.