NEW YORK, Dec. 8, 2009 (GLOBE NEWSWIRE) -- Dow Jones Indexes, a leading global index provider, today announced a component change in the Dow Jones Transportation Average.
YRC Worldwide Inc. (YRCW) will be deleted from the Dow Jones Transportation Average at the close of business on Friday, December 11. The company will be replaced by Delta Air Lines Inc. (DAL).
YRC Worldwide Inc. is being removed because of its plans for financial restructuring of the company. YRC Worldwide has proposed a debt-for-equity swap, which ultimately would give noteholders control of about 95% of the company's common stock. If not enough bondholders agree to the exchange, many observers expect that YRC Worldwide Inc. could file for bankruptcy protection, which disqualifies a stock from being a component in any of the Dow Jones Averages.
YRC Worldwide has been in the Dow Jones Transportation Average since August 8, 1995 under the name Yellow Roadway Corp. The company changed its name to YRC Worldwide Inc. on January 4, 2006.
Delta Air Lines Inc. was in the Dow Jones Transportation Average from November 15, 1980 to September 19, 2005, when it was removed because the company filed for protection under bankruptcy law. The company was re-listed at the New York Stock Exchange on May 3, 2007 after emerging from bankruptcy.
The Dow Jones Transportation Average tracks 20 U.S. transportation stocks. Current components are Alexander & Baldwin Inc., AMR Corp., Burlington Northern Santa Fe Corp., Continental Airlines Inc., C.H. Robinson Worldwide Inc., Con-way Inc., CSX Corp., Expeditors International of Washington Inc., FedEx Corp., GATX Corp., J.B. Hunt Transport Services Inc., JetBlue Airways Corp., Landstar System Inc., Southwest Airlines Co., Norfolk Southern Corp., Overseas Shipholding Group Inc., Ryder System Inc., Union Pacific Corp., United Parcel Service Inc., and YRC Worldwide Inc.
Further information about the Dow Jones Transportation Average can be found at http://www.djaverages.com.
Company additions to and deletions from the Dow Jones Transportation Average do not in any way reflect an opinion on the investment merits of the company.
Journalists may e-mail questions regarding this press release to PR-Indexes@dowjones.com
About Dow Jones Indexes
A full-service index provider, Dow Jones Indexes develops, maintains and licenses indexes for use as benchmarks and as the basis of investment products. Best known for the Dow Jones Industrial Average, Dow Jones Indexes also is co-owner of the Dow Jones STOXX indexes, the world's leading pan-European indexes that are an integrated segment of the Dow Jones Global Index series. Additionally, Dow Jones Indexes maintains its benchmark index series, the Dow Jones Total Stock Market Indexes, which is anchored by the Dow Jones U.S. Total Stock Market Index and covers more than 12,000 securities in 65 markets. Beyond equity indexes, Dow Jones Indexes maintains a number of alternative indexes, including measures of the hedge fund and commodity markets. Dow Jones indexes are maintained according to clear, unbiased and systematic methodologies that are fully integrated within index families. www.djindexes.com
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