American Airlines Group Inc., formerly AMR Corporation, operates in the airline industry. The Company's principal subsidiary is American Airlines, Inc. (American). As of December 31, 2011, American provided scheduled jet service to approximately 160 destinations throughout North America, the Caribbean, Latin America, Europe and Asia. AMR Eagle Holding Corporation (AMR Eagle), a wholly owned subsidiary of the Company, owns two regional airlines, which do business as American Eagle-American Eagle Airlines, Inc. and Executive Airlines, Inc. (collectively, the American Eagle carriers). American also contracts with an independently owned regional airline, which does business as AmericanConnection (the AmericanConnection carrier). As of December 31, 2011, AMR Eagle operated approximately 1,500 daily departures, offering scheduled passenger service to over 175 destinations in North America, Mexico and the Caribbean.
Hey everyone! I was wondering if I could get some insight on something I'm very confused about. I have been a shareholder of American Airlines (AAMRQ) for about 2 years now, and today American Airlines merged with US Airways to form American Airlines Group, with the ticker symbol AAL.
This entire merger has kinda been a learning experience for me, as I'm relatively new to investing. But here is what I'm confused about, with the merger AAAMRQ shareholders will receive a 2 for 1 deal for the new AAL stock. I've been checking my Scottrade account, trying to see when my AAMRQ stock will switch over to AAL, and it hasn't. My investment amount hasn't changed, but it now says that AAMRQ is invalid, it won't let me buy or sell the money that I had invested in AAMRQ, and it doesn't tell me the amount of shares I own.
So my question is for any experienced investors who have gone through this, when should my stock switch over to AAL? And when should I be able to buy and sell my shares again? Thanks for any help!