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AMR Corp. to divest subsidiary American Eagle
American Airlines parent AMR Corp. said yesterday it plans to divest regional subsidiary American Eagle next year, a move that comes after prominent shareholders urged the company to consider selling off noncore units to stem the slide of its stock price.
Eagle is one of the industry's largest regionals with 2006 revenues of $1.91 billion and an operating profit of $185.9 million, according to data filed with the US Dept. of Transportation. AMR projects 2007 revenues for the unit of around $2.3 billion.