FedEx Freight Holding Company Inc. (NYSE: FDXF) will replace American Airlines Group Inc. (NASDAQ: AAL) in the Dow Jones Transportation Average effective prior to the open of trading on June 1, 2026, according to S&P Dow Jones Indices.

The change follows FedEx Corp.'s (NYSE: FDX) spinoff of FedEx Freight Holding Company, a transaction expected to be completed on June 1. FedEx Corp. will remain in the transportation index following the spinoff.

American Airlines Group is being removed due to its low weight in the index of less than one-half of one percentage point, caused by its low share price. The Dow Jones Transportation Average is a price-weighted index, meaning very low-priced stocks have minimal impact on the index.

The divisor used to calculate the index from component prices will be adjusted prior to the opening on June 1, 2026. This procedure prevents distortion in the index's reflection of the portion of the U.S. stock market it measures. The new divisor will be available in end-of-day index level files via the S&P Dow Jones Indices FTP site beginning May 29, 2026.

FedEx Freight Holding Company operates in the cargo ground transportation industry, while American Airlines Group is classified in the passenger airlines sector.

S&P Dow Jones Indices manages the Dow Jones Transportation Average, which tracks transportation companies across various sectors including airlines, railroads, trucking and shipping companies.