Amid speculation that American Airlines parent company AMR (NYSE:AMR) is filing for bankruptcy, the stock was halted after taking a 29.7% plunge — the lowest in over two years.
Concerning investors is the almost inevitable filing of Chapter 11. Before today, American Airlines’ price per share had dropped 62%. AMR owns American Airlines — the third largest airline in the U.S. The company is headed toward a fourth consecutive loss, and many fear American Airlines will be unable to meet the requirements to stave off bankruptcy.