AMR bankruptcy?
10-03-2011, 10:33 AM
#21
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Originally Posted by Av8tion
I started freeing up cash when I saw it tumble.... strongly thinking about getting in, but I think there's a little more to fall before it goes back up... look to about 1.25-1.30 before you hit bottom...
if you buy amr and they go chapt 11 there is a good chance there is a reissue on the stock and you loose all your money, stock shares usually don't make it out of bankruptcy untouched
10-03-2011, 10:42 AM
#22
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LCC / America West / US Airways down 12% on somewhat higher volume also. They are the "next worst" performer in the airline group today
AMR,LCC,UAL,DAL,LUV,JBLU | Stock Prices | Quote Comparison | YAHOO! Finance
AMR,LCC,UAL,DAL,LUV,JBLU | Stock Prices | Quote Comparison | YAHOO! Finance
10-03-2011, 10:44 AM
#23
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Originally Posted by satpak77
DAL, what happened to your stock price after the official Ch 11 filing occurred ? Did it bounce back up ?
Thoughts ?
Thoughts ?
10-03-2011, 10:44 AM
#24
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Go to Vegas if you wanna gamble a stock with that kind of one day volativity. Rather look at the quality dividend payers with plenty of cash on the balance sheets. I watched more then a few try to catch the falling knife with DAL stock. I'll never understand why airline pilots are so predisposed to try to play airline stock trader.
10-03-2011, 11:27 AM
#27
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Originally Posted by DAL4EVER
I can't recall what happened short term (several days after the official BK announcement). However, it traded in a distinct pattern and many people traded off it due to the volume you could trade. A non-airline buddy of mine made a lot of money trading in the swings. The shares don't go worthless until the company is dissolved or emerges from BK. You will not be surprised by the emergence and when the old shares become worthless. I didn't have the heart or the money back then to do it, but for those that got in at the bottom, they did make money throughout the BK process.
10-03-2011, 11:44 AM
#28
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LatestI read:
The stock price of American Airlines parent company AMR Corp. is down 35 percent on concerns that the company could be headed for bankruptcy protection.
The stock was off $1.04, to $1.92 per share. Shares have not closed below $2 since 2003. A major airline trade group says the industry may be headed for a downturn. Many analysts say that American Airlines is in the most vulnerable financial position of major U.S. carriers.
American is paying higher labor and financing costs than other major carriers. It's also the only major airline to lose money this year.
American Airlines is the only major airline that has not filed for bankruptcy protection in the last decade.
Copyright Associated Press
The stock price of American Airlines parent company AMR Corp. is down 35 percent on concerns that the company could be headed for bankruptcy protection.
The stock was off $1.04, to $1.92 per share. Shares have not closed below $2 since 2003. A major airline trade group says the industry may be headed for a downturn. Many analysts say that American Airlines is in the most vulnerable financial position of major U.S. carriers.
American is paying higher labor and financing costs than other major carriers. It's also the only major airline to lose money this year.
American Airlines is the only major airline that has not filed for bankruptcy protection in the last decade.
Copyright Associated Press
10-03-2011, 12:19 PM
#29
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Joined APC: Feb 2007
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Posts: 1,458
American is seen financially as the weakest major, and its stock was down 35 percent at $1.93 in late afternoon trading on the New York Stock Exchange. Shares of companies that declare bankruptcy usually become worthless, and new shares are typically issued once the restructuring is complete.
AMR stock was halted seven times on the New York Stock Exchange. Shares of a stock are halted on the NYSE each time it moves more than 10 percent in a five-minute period.
AMR spokesman Andrew Backover acknowledged the speculation but declined to say whether AMR was considering a Chapter 11 filing.
"That is certainly not our goal or our preference," Backover said in an e-mail. "We know we need to improve our results, and we have a sense of urgency as we work to achieve that."
Ray Neidl, a senior aerospace sector analyst with Maxim Group, said in a recent research note, "Some believe that a prepackaged bankruptcy filing would be the best thing for AMR and the industry."
In 2003, American retained lawyers from Weil Gotshal & Manges to advise it on a potential bankruptcy filing that ultimately did not happen. It was unclear whether the airline has kept the firm on retainer. Weil could not immediately be reached for comment on Monday.
American Airlines is the only major carrier that did not restructure in Chapter 11 during the recent industry downturn. As a result the airline has operating costs, including labor costs, that are higher than those of competitors. The company is currently renegotiating contracts with its labor unions.
Its top rivals, UAL Corp and Delta Air Lines (DAL.N), both used bankruptcy protection to slash costs in the last decade and have since found merger partners. Delta bought Northwest Airlines and UAL Corp bought Continental Airlines to form United Continental Holdings (UAL.N).
American Airlines was not part of the latest wave of airline consolidation, although some experts believe US Airways Group (LCC.N) is a likely partner for AMR at some point.
Like I've been saying all along, AMR is bleeding. US AIrways will probably jump in and merge with them during the BK.
AMR stock was halted seven times on the New York Stock Exchange. Shares of a stock are halted on the NYSE each time it moves more than 10 percent in a five-minute period.
AMR spokesman Andrew Backover acknowledged the speculation but declined to say whether AMR was considering a Chapter 11 filing.
"That is certainly not our goal or our preference," Backover said in an e-mail. "We know we need to improve our results, and we have a sense of urgency as we work to achieve that."
Ray Neidl, a senior aerospace sector analyst with Maxim Group, said in a recent research note, "Some believe that a prepackaged bankruptcy filing would be the best thing for AMR and the industry."
In 2003, American retained lawyers from Weil Gotshal & Manges to advise it on a potential bankruptcy filing that ultimately did not happen. It was unclear whether the airline has kept the firm on retainer. Weil could not immediately be reached for comment on Monday.
American Airlines is the only major carrier that did not restructure in Chapter 11 during the recent industry downturn. As a result the airline has operating costs, including labor costs, that are higher than those of competitors. The company is currently renegotiating contracts with its labor unions.
Its top rivals, UAL Corp and Delta Air Lines (DAL.N), both used bankruptcy protection to slash costs in the last decade and have since found merger partners. Delta bought Northwest Airlines and UAL Corp bought Continental Airlines to form United Continental Holdings (UAL.N).
American Airlines was not part of the latest wave of airline consolidation, although some experts believe US Airways Group (LCC.N) is a likely partner for AMR at some point.
Like I've been saying all along, AMR is bleeding. US AIrways will probably jump in and merge with them during the BK.
10-03-2011, 12:55 PM
#30
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Joined APC: Mar 2007
Position: 88B - Loud Pipes Save Lives
Posts: 1,597
Originally Posted by texaspilot76
American is seen financially as the weakest major, and its stock was down 35 percent at $1.93 in late afternoon trading on the New York Stock Exchange. Shares of companies that declare bankruptcy usually become worthless, and new shares are typically issued once the restructuring is complete.
AMR stock was halted seven times on the New York Stock Exchange. Shares of a stock are halted on the NYSE each time it moves more than 10 percent in a five-minute period.
AMR spokesman Andrew Backover acknowledged the speculation but declined to say whether AMR was considering a Chapter 11 filing.
"That is certainly not our goal or our preference," Backover said in an e-mail. "We know we need to improve our results, and we have a sense of urgency as we work to achieve that."
Ray Neidl, a senior aerospace sector analyst with Maxim Group, said in a recent research note, "Some believe that a prepackaged bankruptcy filing would be the best thing for AMR and the industry."
In 2003, American retained lawyers from Weil Gotshal & Manges to advise it on a potential bankruptcy filing that ultimately did not happen. It was unclear whether the airline has kept the firm on retainer. Weil could not immediately be reached for comment on Monday.
American Airlines is the only major carrier that did not restructure in Chapter 11 during the recent industry downturn. As a result the airline has operating costs, including labor costs, that are higher than those of competitors. The company is currently renegotiating contracts with its labor unions.
Its top rivals, UAL Corp and Delta Air Lines (DAL.N), both used bankruptcy protection to slash costs in the last decade and have since found merger partners. Delta bought Northwest Airlines and UAL Corp bought Continental Airlines to form United Continental Holdings (UAL.N).
American Airlines was not part of the latest wave of airline consolidation, although some experts believe US Airways Group (LCC.N) is a likely partner for AMR at some point.
Like I've been saying all along, AMR is bleeding. US AIrways will probably jump in and merge with them during the BK.
AMR stock was halted seven times on the New York Stock Exchange. Shares of a stock are halted on the NYSE each time it moves more than 10 percent in a five-minute period.
AMR spokesman Andrew Backover acknowledged the speculation but declined to say whether AMR was considering a Chapter 11 filing.
"That is certainly not our goal or our preference," Backover said in an e-mail. "We know we need to improve our results, and we have a sense of urgency as we work to achieve that."
Ray Neidl, a senior aerospace sector analyst with Maxim Group, said in a recent research note, "Some believe that a prepackaged bankruptcy filing would be the best thing for AMR and the industry."
In 2003, American retained lawyers from Weil Gotshal & Manges to advise it on a potential bankruptcy filing that ultimately did not happen. It was unclear whether the airline has kept the firm on retainer. Weil could not immediately be reached for comment on Monday.
American Airlines is the only major carrier that did not restructure in Chapter 11 during the recent industry downturn. As a result the airline has operating costs, including labor costs, that are higher than those of competitors. The company is currently renegotiating contracts with its labor unions.
Its top rivals, UAL Corp and Delta Air Lines (DAL.N), both used bankruptcy protection to slash costs in the last decade and have since found merger partners. Delta bought Northwest Airlines and UAL Corp bought Continental Airlines to form United Continental Holdings (UAL.N).
American Airlines was not part of the latest wave of airline consolidation, although some experts believe US Airways Group (LCC.N) is a likely partner for AMR at some point.
Like I've been saying all along, AMR is bleeding. US AIrways will probably jump in and merge with them during the BK.
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