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What: Shares of embattled airline operator AMR
So what: AMR shares were pummeled yesterday on fears that an unusually large number of its pilots have been retiring because of an imminent bankruptcy, so today's statement from the the Allied Pilots Association, or APA -- which represents 10,000 American Airline pilots -- obviously eases some of those concerns. "We have seen some rumors suggesting that our pilots are acting on inside information about the financial state of American Airlines," APA said. "That is not the case. APA's rank-and-file members are not privy to inside financial information."
Now what: I wouldn't get too excited about the stock just yet. While APA states that its advisors have "indicated that the airline does not face any immediate liquidity crisis," AMR's massive debt load and copious cash burn remain just too scary for a long-term commitment. Of course, if you just have to pick through the carnage in the space, look to a beaten-up name like Southwest Airlines
Interested in more info on AMR? Add it to your watchlist.
Fool contributor Brian Pacampara owns no position in any of the companies mentioned. Motley Fool newsletter services have recommended buying shares of Southwest. Try any of our Foolish newsletter services free for 30 days.