New York Stock Exchange regulators said it will delist the common stock of AMR, the parent company of American Airlines, before the opening bell on January 5, saying that it is “no longer suitable” for listing.

Shares plunged 26% to 38 cents in after-hours trading. Through December 29’s close, shares were down 61% for the month following AMR’s announcement it was seeking bankruptcy protection on November 29.

NYSE Regulation cited reasons including the timing and outcome of last month’s bankruptcy filing as well as the company’s sharply weakened share price. AMR’s average closing price has been below $1 over 30 consecutive days, and AMR has advised the exchange it would not be possible to affirm its intent to cure this deficiency within the NYSE’s prescribed timeframes.

The NYSE operator reiterated that its rules allow it to suspend a listing “at any time” if it concludes that allowing the stock to keep trading on the NYSE is “not advisable.”