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 AMR purchase:

"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."      

 

Enquiries:

 

FL Group

Hannes Smárason                                 Kristjan Kristjansson

CEO                                                     Director Corp. Communications             

Tel: +354 591 4400                               Tel: +354 591 4400/+354 899 9352

 

Brunswick Group LLP

Anita Scott, Nigel Prideaux, Leonora Pou

Tel: +44 (0) 20 7404 5959