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Article: Fort Worth, Texas-Based Online Travel Firm Spun Off from American Airlines.(Knight Ridder/Tribune Business News)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- March 17, 2000
- Author:
CopyrightCOPYRIGHT 2000 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Mar. 16--IRVING, Texas--It was Independence Day yesterday inside Texas Stadium, complete with fireworks, music, balloons and a rousing speech from an honest-to-goodness national hero.
The gathering was a celebration for Sabre, the travel information technology company created in 1962 as American Airlines' internal reservations system.
AMR Corp., American's parent, formally spun off its 83 percent stake in Sabre yesterday to AMR shareholders in a tax-free stock distribution valued at about $5.75 billion, including a $675 million cash dividend paid by Sabre to its own shareholders last month.
William Hannigan, Sabre's chief executive, greeted ...