Sandhog
Recycles dryer sheets
I have being keeping track of AMR since 2003 when their stock plunge during union contract negotiation only to to rise and keep rising until 2007 declining. But today reminds me of 2003 wanted to buy but didn't have the funds to invest since my marriage was on the rocks. Today, I have some money to invest but there are other companies to invest other than AMR. Nevertheless, for me American Airline is American Icon. Even they do file for bankruptcy, patriotic side of me wants to be part of the American Icon to go down together while dreamer of ER wants to stay away and go with more reliable blue chip dividend stocks. Anything with American in stock or America as whole, has been in dumps for while. But I still believe America is the greatest country in the world and all its company with American in their name including Bank of America will rise and shine again.
What your thoughts or opinion on investing in AMR?
AMR stock plunges on renewed bankruptcy fears - Yahoo! Finance
What your thoughts or opinion on investing in AMR?
AMR stock plunges on renewed bankruptcy fears - Yahoo! Finance
NEW YORK (AP) -- The stock of American Airlines parent company AMR Corp. tumbled Monday, at one point falling nearly 40 percent, on renewed concerns that the carrier could be headed for bankruptcy protection.
Shares lost 84 cents, or 28 percent, to trade around $2.12 in early afternoon trade after plummeting to their lowest point in 8 years. The stock has not closed below $2 since 2003.
A major airline trade group, The International Air Transport Association, said Monday that the industry may be headed for a downturn. American Airlines is considered to be in the most vulnerable financial position of major U.S. carriers.
Morningstar analyst Basili Alukos said Monday he believes AMR implemented "its last-ditch effort to return to profitability" when it spun-off its regional carrier and said it would place a record order to buy 460 planes to quickly address its aging fleet.
American Airlines is the only major airline that has not filed for bankruptcy protection in the last decade, leaving it saddled with higher costs for everything from labor to financing. American is the only major airline that has lost money this year.
Fort Worth, Texas-based AMR. lost $286 million in the second quarter alone.