(Click for video linked to a searchable transcript of this Mad Money segment)
Believe it or not, the quest for upside led Jim Cramer to a new airline.
The new American Airlines, to be precise.
Cramer knows that American Airlines probably sounds like anything but a new stock; after all the company was formed in the 1930's and has been a dominant force in the industry ever since.
But, for the sake of investing, the company that trades today is actually very new. It's only been in existence for a little over a month. That is, on December 9, 2013 a newly created company was formed from the merger of the former US Airways and the old AMR Corp.
Cramer thinks the merger is a game changer.
"Thanks to this and other preceding airline mergers (such as the Delta-Northwest deal in 2008 and the United-Continental merger in 2010), the airline business in this country has now become an actual, investible business, where just four carriers now handle 80% of domestic flight traffic. Consolidating industries like the airlines represent a fantastic long-term theme," Cramer said.
These mergers have allowed the airlines to cut costs and take out excess capacity. In short, running a major airline is now a viable business proposition, Cramer explained
And although Cramer thinks there are many ways to leverage the theme, one of his favorite stocks is the new American Airlines.
Now that the merger is complete American has become the largest airline in the world and Cramer believes with a fleet of 1500 aircraft the sheer size of the company gives it an incredibly competitive advance.
"You can really see the power of this deal when you look at particular airports. The combined company will control 50% of the traffic at Phoenix, Dallas/Fort Worth, Philadelphia, Charlotte, and Miami." Cramer said in March 2013, when he first introduced the theme on Mad Money. "Meanwhile, they'll have 38% share at Chicago's O'Hare airport, and about 21% at LAX. They'll be the number one player on the east coast, the number one player in the middle of the country, and number three on the West Coast."
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All told, Cramer sees upside for quite some time to come. "The wave of consolidation, culminating in the has changed the industry. And of the many ways to leverage the theme, "I think American is among the best to own. I see upside for quite some time to come," Cramer said.
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