American Airlines to Join S&P 500 Index
American Airlines Group will become the newest addition to the Standard & Poor’s 500 index, the iconic financial market indicator. The move is yet another signpost of the U.S. airline industry’s economic recovery.
Following its 2013 merger with US Airways, the Fort Worth, Texas, based airline became the world’s largest. American will replace Allergan, maker of Botox, on March 20 after the close of trading.
The carrier will become the third U.S. airline in the S&P 500, joining Delta Air Lines and Southwest Airlines.
Allergan is being acquired by Actavis, a company also listed in the S&P, in a transaction expected to be completed Wednesday.
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