American Airlines Weathers Turbulence

Mike Davis, finance professor at SMU's Cox School of Business, talks about American Airline's current troubles.

By Ray Villeda

Many shareholders of American Airlines' parent company are wondering what lies ahead for the airline.

Leaders of the pilots union said late Tuesday that the latest contract proposal doesn't meet their priorities, and stocks fell to the lowest price since 2003 on Wednesday.

The board of Fort Worth-based AMR Corp. had its final meeting of the year Wednesday.

Mike Davis, professor of business at Southern Methodist University, said avoiding bankruptcy was likely a topic of conversation. American is the only legacy airline to avoid bankruptcy and chances are, AMR is looking at ways to continue avoiding it....