American Airlines' AMR Shares To Be Dropped From NYSE Trading - NewsOn6.com - Tulsa, OK - News, Weather, Video and Sports - KOTV.com |

American Airlines' AMR Shares To Be Dropped From NYSE Trading

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An American Airlines' jet at its maintenance center in Tulsa. [file photo] An American Airlines' jet at its maintenance center in Tulsa. [file photo]
TULSA, Oklahoma -

The New York Stock Exchange has decided to drop AMR from trading this week. American Airlines' parent company declared bankruptcy last year and its stock priced closed under a dollar for 30 straight days last month.

The company said that because of its Chapter 11 filing, it could not try to "cure" the weakness in its share price, and would not oppose the delisting.

AMR expects to instead trade on the over the counter bulletin board under a new symbol, although it's not clear yet what that symbol will be.

AMR filed for Chapter 11 bankruptcy protection in late November after posting about $11 billion in losses since 2001.

AMR shares had fallen 79 percent this year before the bankruptcy filing.

A judge in New York has granted American Airlines permission to keep paying for fuel, labor, new planes and other key expenses to keep flying.

AMR also owns the American Eagle regional airline, which it had planned to spin off or sell. Those plans are on hold.

American is one of Tulsa's largest employers.

12/16/2011 Related Story: Bankruptcy Woes Trickle Down To American Airlines' Vendors

The Associated Press contributed to this report.

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