Emirates, the biggest airline by international traffic, said it has no plan to acquire a stake in AMR Corp., denying speculation of a linkup with the parent of American Airlines.
“We certainly wouldn’t be doing that,” Emirates President Tim Clark said in a telephone interview today. “Us buying a stake in AMR? It wouldn’t make sense.”
AMR, owner of the second-largest U.S. airline, rose as much as 6.8 percent in New York trading after Theflyonthewall.com reported today that Dubai-based Emirates is in talks with the Justice Department to acquire a 49 percent stake. The shares of Fort Worth, Texas-based AMR climbed 20 cents, or 3.3 percent, to $6.24 at 11:32 a.m. local time. The company has a market value of $2.1 billion.
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