Monday, October 3, 2011

Pilots Bailing Out of AMR

More than 200 pilots have retired from American Airlines in the last two months, compared with a typical monthly dozen, according to MarketWatch.

Pilots who retired last week were able to cash in company stock at its Aug. 1 price, which was 28% above Friday's closing price.

Shares in AMR, parent of American Airlines, are down today by another 18% to $2.42, on rumors that the firm will file a pre-packaged bankruptcy.

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