Expectations too high on American Airlines pilot deal as bankruptcy concerns continue
As last weekend approached, the Allied Pilots Association (APA) issued statements that management was highly motivated to complete a deal before the start of the new week, especially since it reports third quarter earnings today and is desperate for good news. APA marshaled its board for a potential meeting on Saturday prior to its regular Autumn meeting on Monday. Everyone expected a deal to be announced. But the failure to reach an accord prompted another dive in AMR stock value and market capitalisation, after the devastating swing earlier in the month prompted by bankruptcy rumours. Analysts then universally pointed to its liquidity, saying it still had time to turn around.
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