AMR Common Stock To Trade On OTC Markets Under Symbol "AAMRQ" Beginning Jan. 5, 2012
FORT WORTH, Texas, Jan. 4, 2012 /PRNewswire/ -- AMR Corporation, the parent company of American Airlines, Inc. and AMR Eagle Holding Corporation, announced today that its common stock will begin trading under the symbol "AAMRQ" on the OTCQB marketplace, operated by OTC Markets Group, on Thursday, Jan. 5, 2012. More information, including Real-Time Level 2 quotes, is available at otcmarkets.com. Any holders of AMR's 9% Debentures due 2016 (CUSIP 001765AC0) and its 7.875% PINES (Public Income Notes) due 2039 (CUSIP 001765866) should contact their brokers or other investment advisors regarding trading in those securities.
As previously announced, the New York Stock Exchange (NYSE) has advised AMR that its common stock traded under the symbol AMR, its 9% Debentures due 2016 traded under the symbol AMR 16 and its 7.875% PINES due 2039 traded under the symbol AAR will be suspended from trading on the NYSE prior to the opening of the market on Thursday, Jan. 5, 2012, and that the NYSE has applied to the Securities and Exchange Commission to commence delisting procedures for these securities. NYSE advised AMR that it is taking these steps because the average closing price of AMR's common stock fell below the NYSE's continued listing minimum share price standard of $1.00 over a consecutive 30-trading-day period.
Due to AMR's Chapter 11 filing, AMR did not oppose the suspension and delisting of its securities.AMR cannot predict what the ultimate value of any of its securities may be, and it remains too early to determine whether holders of any such securities will receive any distribution in the Chapter 11 reorganization. It should be noted that in most Chapter 11 cases holders of equity securities receive little or no recovery of value from their investment. As a result, AMR urges investors to exercise appropriate caution with respect to any existing or future investments in AMR's securities.
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