FL Group has increased its holding in AMR
Corporation, parent of American Airlines, the world’s largest airline, and now
holds 8.63% of its shares. FL Group
therefore becomes the largest announced shareholder.
On December 26th, 2006, FL Group announced that it
had acquired 5.98% of shares in AMR Corporation. Since then FL Group has continued to build
its stake in the company.
Having owned Icelandair
and Sterling Airlines, Scandinavia's largest low cost carrier, and having owned
16.9% in British low cost carrier easyJet, FL Group
has significant experience in being a shareholder in household name air
carriers. In addition to its stake in
AMR Corporation, FL Group's current airline holdings include a 22.4% ownership
in Finnair, the Finnish flag carrier.
Hannes Smárason, CEO of FL Group commented on the
"At our AGM today I updated our shareholders
on our significant stake in AMR Corporation. We remain very excited about this
investment. We have been following the
airline industry in the United States and we believe AMR Corporation presents
strong prospects for 2007."
Tel: +354 591 4400 Tel: +354 591 4400/+354 899 9352
Brunswick Group LLP
Anita Scott, Nigel Prideaux,
Tel: +44 (0) 20 7404 5959