Prime Edition

U.S Airlines to land on Nasdaq
PTI  New York | 16th Nov 2013

American Airlines and US Airways, essentially cleared for merger next month, said that the combined company, the world's biggest airline, will trade on the Nasdaq Stock Market. American's parent, AMR Corporation, and US Airways Group cleared a major hurdle for their merger Tuesday by agreeing to drop airport slots and other rights at key airports in a proposed deal settling a Justice Department antitrust lawsuit.

Court approval of the deal appeared likely, and the two companies announced plans for the new American Airlines to debut on the tech-rich Nasdaq, abandoning the rival New York Stock Exchange where US Airways currently trades. American used to be listed on the NYSE but is now being traded over the counter as it undergoes Chapter 11 bankruptcy reorganisation.

Newer | Older


iTv Network : newsX India News Media Academy aaj Samaaj  
  Powered by : Star Infranet