American Airlines Shares Fall

The BBC has reported that shares in American Airlines’ parent company AMR closed 33% down yesterday.  The drop in share value resulted from rumours that the US airline might have to seek bankruptcy protection after recent financial struggles.
At one point, shares fell by up to 41% in New York.
American Airlines is one of the few major US carriers that has not restructured under Chapter 11 bankruptcy protection.  On Monday AMR said that doing this “is certainly not our goal or our preference.  We know we need to improve our results, and we are keenly focused as we work to achieve that.”