YRC Worldwide Inc. 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.
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.