Reykjavik-based FL Group, which owns a stake of about 9% in American Airlines parent AMR Corp., wrote a strongly worded letter to AMR's board of directors this week urging immediate action to halt the rapid descent of the company's stock price. FL Group holds a large portfolio of investments, including sizable stakes in Sterling Airlines and Finnair. It previously held the controlling stake in Icelandair and a 16% stake in easyJet, both of which it sold off, and is considered one of AMR's ...

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