British Airways Sells Last Us Airways Stock

British Airways sold the last of its shares in US Airways Group Inc. on Wednesday, ending a relationship that turned sour when British Air sought an alliance with American Airlines.

British Air sold just under 14.5 million shares to the public for $499 million, or $34.50 a share, representing 22.5 percent of US Airways’ outstanding stock.

The sale, which was expected, helped push US Airways shares down $3, or 8 percent, to $34.87-1/2 on the New York Stock Exchange.

A day earlier, US Airways bought back preferred shares from British Air that could be converted to nearly 5 million common shares.

US Airways had no comment on Wednesday’s sale.

After Wednesday’s sell-off, British Air said it made a profit of $225 million on its US Airways investment.