Airlines

AMR Corp., parent of American Airlines, spun off its 83% stake in Sabre Holdings Corp. in a $5.87-billion move to help the largest travel reservation company win contracts with more airlines. AMR, the second-largest U.S. airline company, distributed 107.4 million Sabre shares to AMR stockholders at a rate of about 0.7 Sabre share for each AMR share. The Fort Worth, Texas-based airline company said in December it would spin off Sabre, removing a hurdle the travel company faced trying to negotiate with American’s competitors. AMR will focus on running its American and American Eagle carriers. Sabre shares rose $1.13 to close at $48.38, and AMR rose $2.81 to close at $60.63, both on the NYSE.

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