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Latest News - October 2011

October 10, 2011
Shares of American Airlines parent AMR fall again
Source: Miami Herald
By: DAVID KOENIG

American Airlines parent AMR Corp. (AMR) and its pilots may be close to a labor deal this weekend, settling a five-year dispute over compensation that has been a significant overhang to improving the company's cost structure and its stock price.

The Allied Pilots Association said its board would gather for a special meeting on Saturday in preparation for a tentative deal.

"AMR management has conveyed to APA their desire to make a concerted effort to conclude pilot negotiations this week," the union said in a Tuesday letter. "Recent events such as the spike in pilot retirements, volatility in the trading volume and price of AMR shares, and the additional capacity reduction for the fourth quarter announced on Monday have created a sense of urgency."

Shares of AMR rose 3% premarket to $3.05. In the past week the stock has climbed 18%

 

 


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