Shares of AMR, parent company of American Airlines, took a sharp hit on concerns that it may have to file for bankruptcy. Andrew Backover, a spokesman for AMR, acknowledged speculation that the company is headed toward bankruptcy. "Regarding rumors and speculation about a court-supervised restructuring, that is certainly not our goal or our preference," he said. "We know we need to improve our results, and we are keenly focused as we work to achieve that."

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