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Wed, Oct 19, 2011

Trading Of AMR Halted For A Second Time

Steep Losses Trigger Automatic Stop Order

Monday was another bad day for AMR stockholders, as an ongoing labor dispute triggered steep losses in the airline's shares to the point that trading was automatically halted. It was the second time this month that trading was temporarily suspended due to rapidly falling prices.

The airline and its pilot's union failed to come to an agreement on a new contract over the weekend, which was the catalyst for the Monday stock slide. The previous issue was over speculation about a possible reorganization under bankruptcy protection for the airline.

Analysts say there is simply a lot of worry over the eventual fate of one of the remaining legacy carriers, according to a report in USA Today.

A spokeswoman for American said talks between the airline and the pilots union were expected to resume this week. Missy Cousino said the company is "optimistic that there is a path to an agreement."

The airline says it is also facing pressure from volitile fuel prices and high maintenance costs for its aging fleet of airliners.

FMI: www.american.com

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