American Eagle Sell-off Confirmed

AMR CORPORATION, the parent company of American Airlines, has confirmed that it intends to divest itself of regional subsidiary AMR Eagle Holding.  The Corporation believes that a ‘spin-off’ of Eagle “as a separate, publicly-traded company would offer a number of benefits.”  The plan is for Eagle to become an independent airline but with a nine-year services agreement with American.
“We’re excited to take this important step toward becoming an independent airline,” said Dan Garton, Eagle’s President and CEO.  “We have more than 25 years of experience providing regional air service to American Airlines and we look forward to continuing that relationship for many years to come.  Likewise, we are eager to compete for new business and new customers for Eagle and our employees.”