AMR Shares Hit 52-Week Low

Shares of AMR Corp., the parent of American Airlines, plunged to a 52-week low of $7 Tuesday before closing at $7.02, down $1.18, or 14.39 percent. More than 25.5 million shares were traded.

Fort Worth-based AMR, which posted a first-quarter loss of $328 million, or $1.32 a share, has been rattled in the past two weeks by maintenance issues that grounded American’s fleet of MD-80 aircraft and caused the cancellation of more than 3,000 flights. American’s unionized pilots, upset over late and canceled flights and aircraft maintenance problems that they say are the responsibility of the airline’s management, picketed American’s customers and marketing partners in 10 cities last week.

AMR shares reached a 52-week high of $29.47 last April 25.

Originally published by Bloomberg AP and Staff Reports.

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