AMR CEO Tim Horton admits that the carrier could become a takeover target candidate from...

|By:, SA News Editor

AMR CEO Tim Horton admits that the carrier could become a takeover target candidate from "opportunists" in a letter to employees that was more direct in tone and less defiant than previous communications about the firm's prospects out of bankruptcy. He also writes that AMR will restructure debt and aircraft leases, ground planes, and will "most certainly end the process with fewer people than we have today." Shares trade down 4.4% on the day on their inevitable path to being worthless.