There arent many options for divestiture except a spin off to existing AMR shareholders. Every share of AMR stock will be worth X shares of AMR and Y shares of Eagle Airlines after a spin.

If I was an AMR shareholder and all of a sudden I was given some share of a company with an outdated fleet, no guaranteed feed contract, and high costs compared to other regional carriers then I would be ****ed!

If we are spun off it will be very hard to gain feed flying through traditional agreements because companies like Skywest/ASA/XJT and Republic/CHQ have such a huge relationship already built with the major legacies.

I am sure AMR has a business plan in mind and wants us to do well so they can get a return on their investment, but I dont think it will be a traditional business model that we have seen in todays US airline industry.