Icelandic company FL Group dumps American Airlines stock

by PegNews wire

Photo not provided by FL Group, AMR

They came, they saw, they divested

FORT WORTH — According to a story in the Dallas Business Journal, it appears that Icelandic investment company FL Group has decided to divest some 20 million shares in AMR, American Airlines' parent company. The report states that FL has divested 8 percent of its 9.1% stake in AMR, which had made FL one of AMR's biggest single investors.

FL cited a lack of clear direction and indecisive management for the move, as well as rising fuel costs and a general tightening of the U.S. economy.

You can read the official statement here.

Posted by Todd M.

Staff
Verified User
Anonymous

hotchr, says:

They're just pissed they didn't spin-off their AAdvantage program (as they requested), and instead AMR is getting rid of AAmerican Eagle. I mean come on, did you honestly think AMR was (or is) ever gonna get rid of their Frequent Flier program? They KNOW that is the ONLY reason people fly them (out of choice). If they get rid of that, there is no incentive to ever do business with them: old planes, horrendous service, no on-board entertainment, etc, etc.