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Guggenheim Airline ETF (FAA)

FAA is defunct since March 15, 2013. Lack of investor interest
  • Jan. 13, 2012, 11:05 AM
    Is Delta Air Lines (DAL -0.9%) just playing defense?: Industry analyst Jeff Straebler speculates that DAL may be dancing with American Airlines (AAMRQ) as a ploy to "disrupt" the carrier's journey through bankruptcy and make it harder for a rival to snap up assets.
    | Jan. 13, 2012, 11:05 AM | 1 Comment
  • Jan. 12, 2012, 3:55 PM
    That makes three: The WSJ reports that US Airways (LCC +2.1%) is a potential bidder for American Airlines (AAMRQ) - joining Delta Air Lines and TPG (previous: I,II) as firms that are reportedly kicking AMR's tires.
    | Jan. 12, 2012, 3:55 PM | Comment!
  • Jan. 12, 2012, 1:01 PM
    Longtime airline investor TPG also (previous) has interest in buying American Airlines (AAMRQ) out of bankruptcy, according to the WSJ. Sources say the P-E firm has had discussions with the carrier and could line up a strategic buyer to join its bid. A deal - if it comes - is seen as closing several months down the road after American lightens up its debt load.
    | Jan. 12, 2012, 1:01 PM | Comment!
  • Jan. 12, 2012, 12:50 PM
    The WSJ reports that Delta Air Lines (DAL +1.1%) is assessing a bid for American Airlines (AAMRQ) and has hired Blackstone as an advisor for the process.
    | Jan. 12, 2012, 12:50 PM | Comment!
  • Dec. 13, 2011, 10:42 AM
    A press conference in Dallas with execs from Boeing (BA +2.2%) and Southwest Airlines (LUV +0.9%) over their blockbuster 737 MAX deal just concluded as the firms keep the LUV-fest between the two firms percolating. Highlights from Southwest CEO Gary Kelly: "One of the main challenges we face are high fuel costs and we are very much in need of new technology to reduce the fuel burn...for the near term we are not changing our fleet strategy...we will have flexibility in the future to manage our retirements and options that we can grow our fleet."
    | Dec. 13, 2011, 10:42 AM | Comment!
  • Nov. 30, 2011, 12:15 PM
    US Airways' (LCC -0.7%) pursuit of AMR could get a healthy push if the carrier needs a debtor-in-possession loan, according to Wolfe Trahan analyst Hunter Kealy. Eyeing AMR's relatively slim $4.1B in cash it has to fund a restructuring, Kealy notes a DIP lender will want "aggressive action" from a reminted AMR including a strategic combination with another airline.
    | Nov. 30, 2011, 12:15 PM | Comment!
  • Jul. 18, 2011, 7:15 AM
    American Airlines (AMR) has let Airbus (EADSF.PK) back into negotiations for a large contract on up to 250 narrowbody airplanes. By playing off orders for Airbus' redesigned A320 against Boeing's (BA) new 737s, the firm hopes to save up to $20B as it looks towards expansion and a rumored bid for US Airways (LCC).
    | Jul. 18, 2011, 7:15 AM | Comment!
FAA Description
The Guggenheim/NYSE Arca Airline ETF (NYSE:FAA), the "Fund", seeks investment results that correspond generally to the performance, before the Fund's fees and expenses, of an equity index called the NYSE Arca Global Airline Index (the “Airline Index” or the “Index”). The Fund will at all times invest at least 80% of its total assets in common stock, American depositary receipts (“ADRs”) and global depositary receipts (“GDRs”) that comprise the Index and investments that have economic characteristics that are substantially identical to the economic characteristics of the component securities that comprise the Index. Guggenheim Advisors, LLC (the "Investment Adviser") seeks a correlation over time of 0.95 or better between the Fund’s performance and the performance of the Index. A figure of 1.00 would represent perfect correlation. The Fund, using a low cost “passive” or “indexing” investment approach, will seek to replicate, before the Fund’s fees and expenses, the performance of the Airline Index. The Airline Index is a modified equal-dollar weighted Index designed to measure the performance of highly capitalized and liquid U.S. and international passenger airline companies identified as being in the airline industry, as defined below, and listed on developed and emerging global market exchanges. The Fund’s Index Provider, Archipelago Holdings Inc. (“Arca” or the “Index Provider”), an affiliate of NYSE Euronext, Inc., defines “developed markets” as countries with western-style legal systems, transparent financial rules for financial reporting and sophisticated, liquid and accessible stock exchanges with readily-exchangeable currencies.
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Sector: Services
Country: United States
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